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Five Reasons Why You Need Personal Accident Insurance

A personal accident plan, sometimes known as a PA plan, is a form of insurance that helps policyholders financially during unexpected events. A personal accident plan’s main purpose is to provide financial assistance to policyholders in the event of  unforeseen circumstances such as  injury, disability, or death.

The loss of your salary would make it difficult for you and/or your family to maintain the same standard of life. Getting hurt in any kind of accident might leave you unable to work for a while and with medical expenditures that aren’t covered by health insurance, even if the accident itself wasn’t very bad.

Most people can get by with just health insurance, but there are those whose risk factors for illness, disability, or injury are higher than average. Having peace of mind that you and your loved ones are financially secure no matter what the future may hold is possible with the right personal accident (PA) plan.

Here are five reasons why purchasing a PA plan may make sense:

1. Workplace accidents do happen

According to the Ministry of Manpower, Major injury rate fell from 18.5 per 100,000 workers (610 major injuries) in 2021 to 17.3 per 100,000 workers (614 major injuries) in 2022.

Even minor accidents can leave you temporarily disabled or unable to work. Personal accident insurance can be used to pay for medical expenses in certain situations.

Additional riders providing income replacement benefits may be available for purchase.

A PA plan is there to help you out financially in the event that you suffer an injury on the job and end up in the hospital or need other medical attention. If you are the primary breadwinner in your family, it is very important to have  this coverage like, which may include hospital income of up to S$500 per day.

2. You value sports, fitness, or the great outdoors

The risk of a fall or injury is higher for physically active people than it is for less active people, thus those who regularly participate in sports, fitness, or outdoor activities should also think about implementing a PA strategy.

According to the NTUC article (2022), Bone breaks and fractures experienced in sports can result in medical bills that surpass above $20,000. A broken collarbone at a private hospital or clinic will run you beyond $23,000 in treatment fees. This doesn’t account for costs associated with things like ambulance rides, mobility assistance, diagnostic tests, TCM, physiotherapy, or even just staying in the hospital for a day.

Medical costs incurred as a result of participation in recreational or sporting activities may be covered by a participant’s personal accident (PA) coverage. It can also be used to help pay for medical expenses not covered by public or private health insurance.

3. Hospitalization and Medical Expenses

You may be eligible to get reimbursement for some of your outpatient and hospitalization costs. Personal accident plans may not be as all-inclusive as health insurance, so you shouldn’t count on them to pay for all of your medical bills.

You may be able to add hospitalization benefits by purchasing a “rider” to your personal accident insurance policy. This can be in the form of a lump sum payment, a daily allowance, an ambulance ride, a broken bone benefit, or a medical evacuation and repatriation benefit, depending on the circumstances.

4. You need COVID-19 insurance coverage

If you don’t want to pay extra for COVID-19 insurance, a FWD PA Plan will cover any medical expenses you incur as a result of contracting COVID-19 in addition to dengue and the other infectious diseases listed above.

A claim relating to the COVID-19 epidemic can be made after only 15 days, compared to the standard 90 days for other infectious disorders.

Should you experience any adverse reactions to the COVID-19 vaccine that necessitate hospitalization, you can rest assured that your inpatient medical costs in Singapore will be covered by our Personal Accident insurance at no additional cost to you.

5. You're a parent

More mishaps occur when children are older and more active because they are more likely to explore areas that are dangerous for their parents. In fact, whether it’s through falling off their bike or while playing on the playground, falls are the most common cause of non-fatal injuries among kids.

With the right PA plan, you can rest easy knowing that your kids are covered in the event of an emergency, whether it be an injury or an illness (even something as common as food poisoning or Hand, Foot, and Mouth Disease).

Find the best PA plan for your needs

Personal Accident Insurance is a flexible and inexpensive way to protect yourself from the financial consequences of an accident that could have been prevented.

Accidents can happen to anyone at any time, but that doesn’t mean you have to be unprepared! Get the peace of mind you deserve with personal accident insurance. 

In the end, mishaps can occur to anyone. If you fit into one of the categories above, Personal Accident insurance is a smart option because it provides up to S$15,000 or beyond for inpatient and outpatient care in Singapore and allows you to add a rider for up to S$30,000 and beyond of international medical coverage.

Personal accident insurance isn’t meant to be a substitute for health or life insurance. Instead, you’re seeking this type of insurance to protect yourself and your family from the financial fallout of unforeseen events.

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Traveling Soon? Here Are Some Things You Need To Know

As travel restrictions begin to ease in many parts of the world, the prospect of finally embarking on that long-awaited vacation may seem within reach. However, traveling in the post-pandemic era is not quite the same as it was before. 

There are a number of new rules and regulations to be aware of, as well as practical considerations to take into account. From testing requirements and vaccination certificates to quarantine rules and travel insurance, there’s a lot to keep in mind before packing your bags. 

Whether you’re a seasoned traveler or a first-timer, it’s important to stay up to date with the latest guidelines and recommendations to ensure a smooth and stress-free trip. In this article, we’ll guide you through some key things you need to know before you embark on your next adventure.

Setting a Budget

Setting a budget is an essential step in planning a trip, as it helps to ensure that you have a realistic understanding of your finances and can avoid overspending. When creating a budget, it is important to consider all of the expenses associated with your trip.

To estimate your expenses and create a budget plan, consider the following:

  • Research the destination and calculate costs for transportation, accommodation, food, activities, and souvenirs.
  • Use online tools and apps to create a budget plan and track expenses.
  • Include a buffer for unexpected expenses or emergencies.
  • Consider using a travel credit card with rewards or cashback to save money.

One way to estimate expenses and create a budget plan is to research the destination and compare costs for different options. Online tools and apps can be helpful for creating a budget plan and tracking expenses, and it is also important to include a buffer for unexpected expenses or emergencies. 

Saving Money

Saving money before and during a trip can make a significant difference in the overall cost of the trip. To save money, consider the following:

  • Book flights, accommodation, and activities in advance to get better deals.
  • Sign up for travel rewards programs to earn points or miles for future trips.
  • Use public transportation instead of taxis or rental cars.
  • Pack snacks and drinks to avoid unnecessary expenses.
  • Avoid tourist traps and eat where locals do.

These small expenses can add up quickly and have a significant impact on your overall budget. One way to save money is to set a daily spending limit and stick to it. 

Another strategy is to bring a refillable water bottle and snacks with you, so you can avoid unnecessary purchases while out and about. By being aware of your daily expenses and finding ways to reduce them, you can stretch your travel budget further and have a more enjoyable and stress-free trip.

Best Practices for Traveling with Money

When traveling with money, it is important to follow best practices in order to avoid theft, fraud, and other financial risks. 

To safeguard your finances, consider the following:

  • Use credit cards with no foreign transaction fees to avoid extra charges.
  • Carry cash in a safe manner, such as using a money belt or hidden pockets.
  • Use ATMs wisely and avoid using them in remote or unsafe areas.
  • Exchange currency at banks or official exchange offices instead of airports or tourist areas.
  • Be cautious about scams and safeguard personal information.

This can help you to identify any suspicious activity or errors and take appropriate action before it is too late. Another useful strategy is to notify your bank or credit card company before you travel, to avoid any issues with transactions being declined or flagged as potentially fraudulent. By being proactive and protecting your finances, you can travel confidently and avoid any unexpected financial setbacks.

Accommodation Options

When planning a trip, choosing the right accommodation is an important consideration. There are several different options to choose from, each with its own advantages and disadvantages. 

Different options include:

  • Hostels: affordable option for solo travelers or groups.
  • Vacation rentals: good option for families or groups who want more privacy and space.
  • House-sitting: an option for long-term travelers who want to save money on accommodation.

When looking for affordable accommodation options, it is important to use booking websites to compare prices and options. Looking for promotions or discounts, such as last-minute deals or loyalty rewards, can also be a good way to save money. Finally, it is important to consider staying in less touristy areas or neighborhoods, as this can often be a cheaper and more authentic option.

Conclusion

Remember to be flexible with your travel dates, compare prices from multiple sources, and take advantage of loyalty programs and discounts wherever possible. Additionally, consider alternative forms of transportation, like trains or buses, which can often be cheaper than flying. With some careful planning and a bit of research, you can make the most of your travel budget and enjoy your trip without breaking the bank. 

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Chronic Illnesses Ever Singapore Should Know And How To Be Protected

As World Health Day approaches, let’s take a moment to reflect on the state of healthcare in our communities. One of the biggest health challenges we face in Singapore and worldwide is chronic illnesses.

Chronic illnesses are long-term health conditions that require ongoing management and treatment. They can have a significant impact on a person’s quality of life. In this blog, we’ll delve into some of the most common chronic illnesses in Singapore and the risk factors associated with them. We’ll also provide tips on how individuals can protect themselves from chronic illnesses and effectively manage these conditions.

By raising awareness about chronic illnesses and sharing strategies for prevention and management, we can work together to improve the health and well-being of individuals and communities across Singapore.

Chronic Illnesses in Singapore

Chronic illnesses, such as diabetes, high blood pressure, and high cholesterol, are prevalent in Singapore and can have a significant impact on a person’s quality of life. That’s why it’s important to work closely with healthcare professionals to manage these conditions effectively. 

They can provide guidance on medication, lifestyle changes, and regular check-ups to help prevent complications and improve quality of life. By staying proactive and working closely with healthcare professionals, individuals can better manage their chronic illnesses and achieve better health outcomes.

Risk Factors for Chronic Illnesses

Understanding the risk factors associated with chronic illnesses is an important step in preventing and managing these conditions. Genetics can play a role in the development of certain chronic illnesses. For example, if a family member has a history of heart disease, diabetes, or cancer, you may be more likely to develop these conditions yourself. However, genetics is not the only factor that contributes to the development of chronic illnesses.

Lifestyle choices also play a significant role in increasing the risk of chronic illnesses. A sedentary lifestyle, poor diet, and smoking are among the most common lifestyle factors that can contribute to the development of chronic illnesses. A sedentary lifestyle, which involves little physical activity, can lead to obesity, which is a risk factor for many chronic illnesses. 

Environmental factors can also contribute to the development of chronic illnesses. Exposure to pollution and toxins, for example, can increase the risk of respiratory problems like asthma and chronic obstructive pulmonary disease (COPD). Exposure to pesticides and other chemicals can also increase the risk of cancer and other chronic illnesses.

Protection Against Chronic Illnesses

While there’s no guaranteed way to prevent chronic illnesses, individuals can take steps to reduce their risk. Regular exercise is an excellent way to promote overall health and decrease the risk of developing chronic conditions. Engaging in physical activity for at least 30 minutes a day, five times a week, can help improve cardiovascular health and reduce the risk of developing chronic illnesses.

Eating a balanced diet that is rich in fruits, vegetables, and whole grains can also help to reduce the risk of chronic illnesses. These foods provide essential nutrients that can help strengthen the immune system and protect against diseases. Avoiding processed and high-fat foods, which can contribute to obesity and other health issues, is also important.

Mental Health and Chronic Illnesses

Engaging in activities like meditation, mindfulness, and counseling can help to promote mental well-being and reduce the negative impact of chronic illnesses on mental health. Meditation and mindfulness can be effective tools for managing stress and anxiety, helping individuals to develop coping strategies and cultivate a sense of calm. 

Counseling can also be a valuable resource for individuals living with chronic illnesses, providing a safe and supportive space to discuss concerns and develop strategies for managing difficult emotions.

Managing Chronic Illnesses

Managing chronic illnesses requires a long-term approach that involves working closely with healthcare professionals to develop a treatment plan. This plan may include medication, lifestyle changes, and regular monitoring to ensure that the condition is managed effectively. It is also important to develop a support system that can help to manage the emotional and physical aspects of the illness. This may include family members, friends, or support groups.

Addressing Healthcare Inequality

To reduce the incidence of chronic illnesses and ensure that all individuals have access to quality healthcare, policy changes and community outreach efforts are essential. Measures like increasing access to healthcare resources, improving health education and awareness, and addressing social factors can make a significant difference in promoting health equity.

Improving access to healthcare resources can involve initiatives such as expanding healthcare coverage and increasing the availability of healthcare services in underserved communities. 

Health education and awareness efforts can involve providing information on preventative measures, early detection of chronic illnesses, and promoting healthy lifestyle habits. 

Addressing social factors, such as poverty and discrimination, can involve supporting programs that provide access to healthy food options, safe living environments, and opportunities for education and employment.

Final Thoughts

Despite the challenges of living with chronic illnesses, individuals can lead fulfilling lives by taking steps to reduce risk factors, seeking support for their mental health, and working closely with healthcare professionals to manage these conditions effectively.

It’s essential to continue raising awareness about chronic illnesses, promoting strategies for prevention and management, and addressing healthcare inequality to ensure that all individuals have access to quality healthcare. By working together to address these challenges, we can improve the health and well-being of individuals and communities across Singapore and around the world.

Through education, community outreach, and policy changes, we can reduce the incidence of chronic illnesses and provide individuals with the resources and support they need to manage these conditions effectively. By promoting healthy lifestyle habits, providing access to healthcare resources, and addressing social factors that contribute to chronic illnesses, we can create a healthier and more equitable society.