The Personal Insurance

The Personal Insurance – PMD insurance is a policy designed to provide comprehensive cover to users of Personal Mobility Devices (PMD). The policy is designed to protect you against third party liabilities arising from your negligent use of your personal mobility devices (PMD) and against costs incurred by the user of the PMD registered in your name. It also extends coverage to provide personal accident benefits and medical expenses following accidental bodily injury arising from PMD use.

PMD includes (but is not limited to) electric scooters, power assisted bicycles, unicycles, wheelchairs, hoverboards, roller blades, skateboards and unicycles.

The Personal Insurance

The Personal Insurance

Extension for commercial use is optional. The cover is applicable only when the insurance cover is extended as shown in the policy schedule.

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If you opt for the commercial use extension, the policy will be extended to cover third-party liability or third-party liability sustained as a result of your use of the PMD in the course of your work for which you have earned income, recalculation or profit .. Determining whether an accident occurs in the course of your work will be based on digital or electronic records from your electronic device and/or similar records of the organization where you worked during the accident.

Here is a summary of the information. Please see the actual policy wording for rules and regulations. This article visits some common topics about health insurance plans. If you have specific questions or would like advice on your security needs, please leave your details below, and we will get back to you as soon as possible.

Health insurance is an important part of financial planning. Most Singaporeans are familiar with MediShield Life – a basic health insurance scheme for Singapore citizens and permanent residents to cover hospital bills and outpatient treatment costs. But what about critical illness, disability or childbirth? To help you make sense of things, here’s a quick guide to health insurance for every Singaporean and permanent resident.

Do not mix life insurance with health insurance. Life insurance is basically meant to support your loved ones in case of your death while health insurance covers a portion of your medical bills in case of injury or illness.

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There are more specific types of health insurance on the market such as health insurance for people with diabetes, or health insurance policies for high-risk occupations, ie, soldiers or competitive athletes.

These policies provide a payout if you are diagnosed with a critical illness like cancer. Most critical illnesses, whether cancer, stroke or heart attack, are divided into early, intermediate, and advanced stages.

Early onset critical illness coverage pays off almost as soon as you are diagnosed. However, premiums for these types of policies tend to cost more than plans that only cover advanced-stage critical illness.

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However, there is another alternative: multi-payer critical illness coverage. With this plan, you will get a large lump sum payment in early, moderate and severe stages of critical illness. This ensures that you are well cared for throughout the duration of your illness if your condition worsens.

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Unlike normal critical illness plans, multi-pay critical illness policies are able to cover you for critical illnesses even after diagnosis and initial payment. They offer better financial security when you need to stop working and focus on recovery (if possible), or spend the rest of your time with your loved ones.

If you’re diagnosed with advanced-stage cancer, for example, critical illness coverage can pay for up to 10 years of your earnings depending on the amount of coverage purchased. This allows you to spend the rest of your time doing what you want instead of working and worrying about your family.

Gender-sensitive critical illness schemes such as Criticare for Him and Criticare for Her specifically address the healthcare needs of men and women. Coverage extends from diagnosis to recovery, not just one episode of illness. Coverage includes surgical benefits such as reconstructive surgery and supportive benefits such as outpatient psychiatric benefits, which are not covered by most critical illness policies.

You may want to consider gender-specific coverage if your family has a medical history of major diseases that are more prevalent in one gender than another.

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Since Criticare for Him and Criticare for Her policies cover a specific list of critical illnesses, their premium amounts can be as low as one dollar per day.

These policies cover your hospital and treatment expenses. Every Singaporean and permanent resident is covered under the basic version called MediShield Life, regardless of age or health status. MediShield Life can be supplemented with a private insurance policy called an Integrated Shield Plan (IP), which increases the amount of coverage.

. A severe disability is defined as the inability to perform at least three of six activities of daily living (ADL), namely:

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This type of policy provides a fixed payment and the amount is not linked to your income. This varies from policy to policy. And the payments continue for the rest of your life.

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All Singaporeans and permanent residents aged 30 and above are covered by CareShield Life. CareShield Life offers monthly payments in case of severe disability, as determined by the inability to perform at least three of six ADLs. The payment amount will increase annually by S$600 per month until age 67 in 2020 or if a successful claim is made, whichever is earlier. If you become severely disabled after age 67, your payment amount will be calculated in the year you turn 67. From 2020 to 2025, the payment will increase by 2% per year.

, which is also considered a type of life insurance. In fact, TPD insurance is usually part of a life insurance plan, or even some endowment plans.

TPD insurance provides a single, lump-sum payment if you meet the criteria for permanent disability. In general, TPD refers to disability to the extent that you cannot work (for example, blindness or loss of both limbs). Check with your financial advisor for the exact definition of an insurer.

This refers to the health insurance provided by your employer. This is often provided as an employment benefit and continues as long as you work for the company.

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However, you have no real control over the policy your employer chooses. Also, you will not be covered by group insurance coverage as a result of being between jobs or unemployed. Or say, when you retire, eventually you won’t be covered.

Maternity insurance or prenatal insurance is for expectant parents. The policy provides compensation in case of complications during pregnancy, as well as any illness affecting the newborn.

Common examples of pregnancy complications include eclampsia and stillbirth, while examples of conditions that affect the baby include congenital blindness, the loss of two or more limbs, or spina bifida.

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Maternity insurance can usually be purchased from the 13th to the 36th week of pregnancy. These insurance policies are purchased from the last time until the birth of the child.

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Note that coverage for maternity insurance is usually local and not international. If the child is admitted to a hospital abroad, for example, the policy may not cover it.

Generally, health insurance may not cover you for pre-existing conditions such as diabetes, stroke, heart disease, etc. However, some types of policies are only available to care for people with these conditions.

For example, CancerRecover is Singapore’s first plan specifically to protect cancer survivors by covering recurrent or new primary cancers. This plan provides coverage in case of recurrence or new diagnosis of any early to advanced stage cancer.

For example, an insurance policy for diabetic patients may cover both diabetes and pre-diabetes. It can pay for amputations, or blindness due to diabetes.

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These types of policies only apply to those with certain conditions (for example you cannot buy Cancer ReCover if you have not been diagnosed with cancer).

Under SHIELD, however, the limit is raised to cover costs as billed. Remember that you must also pay the deductibles as well as the required copayments. For a complete list of refund limits, see here.

There are also limits for outpatient treatment under Basic Medishield Life. For example, if you have cancer, you will need to return regularly for further treatment. Under Basic Medishield Life, you are only covered up to $3,000 per month for chemotherapy and up to $1,800 per radiotherapy treatment.

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Under SHIELD, however, your claim can continue until you reach $2.5 million for treatment before, during, and after hospitalization, as long as you are approved by a panel of experts or a official rehabilitator. You are receiving treatment in the hospital. As such, adding your MediShield Life to an IP provides a greater margin of safety.

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Premiums for your IP can be paid through your MediSave account up to your MediSave withdrawal limit. However, riders must pay in cash.

A rider is an optional addition to your IP that affects your maximum co-payment amount. If there is no rider, you are encouraged to enter the hospital

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