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AXA Band Aid: Your Essential First Aid Kit for Life's Unexpected Moments
In today's unpredictable world, having a safety net for accidents is crucial. AXA Band Aid offers an affordable and customizable personal accident plan , designed to provide financial protection when you need it most. Let's explore how this plan can be your essential first aid kit for life's unexpected moments.
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What is AXA Band Aid?
AXA Band Aid is a personal accident plan that provides a lump sum payout in case of accidental death or permanent disability . It's designed to be an affordable and customizable safety net, starting from just S$1/week* for essential coverage.
Key Features of AXA Band Aid
Basic Plan Benefits
Accidental Death Benefit (ADB)
Accidental Permanent Disability Benefit (APDB)
Double coverage on public transportation
Triple coverage on commercial airplanes
Free Child Cover (for basic sum assured of at least S$500,000)
Optional Benefits
Medical Expenses
Broken Bones Benefit
Home Modification Reimbursement
Accident Medical Reimbursement
Weekly Benefit on Disablement
Daily Accident Hospitalisation Income
Real premiums suggested for AXA band aid
25, Female making $3,300 a month
Coverage:
accidental death
$50,000
medical expenses
$1,000
broken bones benefit
$10,000
accident medical reimbursement
$5,000
daily accident hospital income
$100
Premium:
$268.65
Read More| Age | What suggestion covers | Premium |
|---|---|---|
| 25, Female making $3,300 a month | accidental death $50,000 medical expenses $1,000 broken bones benefit $10,000 accident medical reimbursement $5,000 daily accident hospital income $100 | $268.65 |
What Does It Cover?
Basic Plan
Accidental Death and Permanent Disability: Lump sum payout
Enhanced Coverage: 2x payout on public transport, 3x on commercial flights
Free Child Cover: 10% of your basic sum assured for up to 3 children (if your basic sum assured is at least S$500,000)
Optional Benefits
Medical Expenses: Covers diseases like Hand, Foot and Mouth Disease for up to 12 months
Broken Bones: S$10,000 to S$50,000 depending on injury and coverage
Home Modification: Reimbursement for home changes needed after an accident
Accident Medical Reimbursement: Covers inpatient and outpatient treatments, including TCM, dental, nursing care, mobility aids, and physiotherapy
Weekly Indemnity: Pays a weekly benefit if you're temporarily disabled
Daily Accident Hospitalisation Income: S$50 to S$400 per day, up to 100 days (200% for ICU stays, up to 50 days)
How Much Does It Cost?
Occupational Classification:
- Class 1: Office-based professionals and administrators
- Class 2: Field workers with some manual work, and children aged 0-16
| Sum Assured | Class 1 | Class 2 |
|---|---|---|
| S$100,000 | S$101 | S$110 |
| S$200,000 | S$201 | S$220 |
| S$500,000 | S$503 | S$551 |
Suggested Packages
S$100,000 Sum Assured
Medical Expenses: Up to S$500/year
Broken Bones: Up to S$10,000/year
Accident Medical Reimbursement: Up to S$2,000/year
S$200,000 Sum Assured
Broken Bones: Up to S$15,000/year
Home Modification: Up to S$10,000/lifetime
Accident Medical Reimbursement: Up to S$3,000/year
Daily Accident Hospitalisation Income: S$100/day
S$500,000 Sum Assured
Medical Expenses: S$900/year
Broken Bones: Up to S$30,000/year
Home Modification: Up to S$20,000/lifetime
Accident Medical Reimbursement: Up to S$5,000/year
Weekly Indemnity: S$300/week
Daily Accident Hospitalisation Income: S$250/day
Free Child Cover included
Real-Life Examples
Accidental Fall
If you slip and fall at home: You'd receive a lump sum if it results in permanent disability, your medical bills would be covered (with Accident Medical Reimbursement option), and you could claim reimbursement for home modifications (with Home Modification option).
Sports Injury
If you break a bone while playing sports: You'd receive a payout under the Broken Bones Benefit, your medical expenses (including physiotherapy) would be covered, and you'd receive daily hospital income if hospitalized.
Public Transport Accident
If you're injured in a bus accident: You'd receive double the basic sum assured for death or permanent disability , all relevant medical expenses would be covered, and you might receive weekly benefits if temporarily disabled.
Pros and Cons
Pros
Affordable starting price (from S$1/week)
Customizable with optional benefits
Enhanced coverage for public transport and air travel
Covers a wide range of accident-related expenses
Free child cover with higher sum assured plans
Cons
Basic plan only covers accidental death and permanent disability
Some benefits have coverage limits
Premiums may vary based on occupational class
Not a comprehensive health insurance replacement
Frequently Asked Questions
Can I customize my plan beyond the suggested packages?
Yes, you can talk to an AXA financial adviser for a customized plan.
What if my occupation doesn't fall under Class 1 or 2?
Contact an AXA financial adviser for specific details on your occupational class.
Is there an age limit for this plan?
The brochure doesn't specify age limits. Check with AXA for detailed eligibility criteria.
Can I change my coverage later?
Contact AXA to discuss options for adjusting your coverage.
How do I make a claim?
Contact AXA as soon as possible after the accident. They'll guide you through the process.
Wrapping It Up
AXA Band Aid offers a flexible and affordable way to protect yourself and your family against accidents. With its customizable options and enhanced coverage for public transport, it can be a valuable addition to your insurance portfolio. However, it's important to remember that this is primarily an accident plan and doesn't replace comprehensive health insurance.
Consider your lifestyle, existing coverage, and budget when deciding if AXA Band Aid is right for you. It could be particularly beneficial for those who frequently use public transport or travel by air, or for families looking for additional protection for their children.
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