The ferry tragedy that happened on 1 October 2012 took away 39 lives, and resulted in a total of 7 families losing their loved ones. While the whole community continues to express its deepest condolences to the families of the victims, this tragedy yet again brought the subject of personal accident protection sharply into focus.

Accidents do happen very unexpectedly and in their immediate aftermath, the victim’s family members often find it difficult to settle back into some semblance of normality, sometimes aggravated by practical issues such as financial support.

With tragedies such as this recent ferry disaster, it often takes years to complete the investigation and subsequent legal processes before liability claims can be settled. Therefore, reliable and long-term financial support coupled with an immediate lump sum compensation will help in relieving the victims' families' financial pressure.

Personal Accident protection aims to provide comprehensive coverage to the insured against bodily injury directly caused by an accident. Lump sum compensation can ease the financial pressure of losing the ability to work. Additionally, customers can also choose the optional medical expenses section so that medical expenses incurred as a result of the accident can be reimbursed.

At the same time, some personal accident protection plans will offer temporary disablement cover as another optional cover. This pays up to 80% of your average weekly earnings to be paid as weekly benefit and up to 104 weeks, leaving the insured worry-free during the recovery period.

With all this in mind, when choosing a suitable Personal Accident protection plan for the future, you are advised to base your requirements on your current financial burdens, economic status and medical benefits so that your protection is maximised over the long term.

Learn more about accident insurance plans