The Tokio Marine TM PA (Personal Accident) is a personal accident insurance plan that provides financial protection in the event of accidents resulting in injuries. The policy offers global coverage round the clock and allows you to customize your plan with optional benefits. This article will delve deeper into the features of the TM PA policy.

The TM PA policy is available for individuals aged 16 to 60 years and provides guaranteed annual renewal until the insured turns 75. It also offers simplified issuance for underwriting, making it easier for you to obtain coverage.

Premiums for the TM PA policy vary depending on your occupation class and preferred plan type. The premiums can be paid annually or monthly, but only GIRO payments are accepted. It is important to note that the premiums are not guaranteed and may change with a 30-day notice.

In terms of protection, the TM PA policy provides coverage for accidental death. The amount payable under this benefit depends on the date of passing relative to the accident date. If the passing occurs on or within 180 days from the accident date, 100% of the sum assured will be paid. After 180 days, a fixed amount of $3,000 will be paid. Any payout under this benefit will be made after deducting amounts owed to Tokio Marine.

The TM PA policy also includes a Double Indemnity Benefit, which provides additional compensation if certain conditions are met. If the accident resulting in the insured’s passing occurs while traveling on a registered vehicle used for regular commutes, and within 180 days from the accident date, the insured’s loved ones will be entitled to an additional 100% of the sum assured. It is important to note that the amount payable under this benefit will be reduced by existing and previous claim amounts under the Accidental Dismemberment and Burns Benefit.

If the insured passes away due to a non-accidental cause, their loved ones can claim under the Death Benefit, which provides a fixed payout of $3,000. This benefit can only be claimed if the insured’s passing is not a result of an accident.

The TM PA policy also covers accidental dismemberment and burns. If the insured suffers a loss or injury stipulated in the Table of Indemnity, a percentage of the sum assured will be paid out. The injury must be caused by an accident, diagnosed by a medical practitioner, and occur within 180 days from the accident date.

Medical expenses incurred for treatment, hospitalization, and surgery can be reimbursed under the Medical Reimbursement Benefit. This benefit also covers out-patient and dental treatment within 180 days of the accident. It is important to note that only expenses incurred within 180 days will be reimbursed.

One unique feature of the TM PA policy is the Free Child Cover, which provides basic insurance benefits for up to 4 children of the insured. This feature includes an Accidental Death Benefit and a Medical Reimbursement Benefit for eligible children.

There are also optional riders available for the TM PA policy. The Hospital Care Benefits rider provides coverage for hospitalization expenses, including ambulance services, daily hospitalization cash benefit, daily intensive care unit cash benefit, and weekly recuperation cash benefit. The Lifestyle Care Benefits rider covers expenses such as mobility aids, home modifications, and nursing care.

In summary, the Tokio Marine TM PA (Personal Accident) policy offers comprehensive coverage for accidents resulting in injuries. It provides various benefits such as accidental death coverage, optional riders for hospital care and lifestyle care, and free coverage for children. The premiums are flexible and can be paid annually or monthly. It is important to review your needs and consult with a financial advisor to determine the most suitable personal accident plan for you.

Overall, the Tokio Marine TM PA policy seems to offer wide coverage at a lower cost compared to other personal accident plans. However, it is crucial to compare different policies and analyze your specific needs before making a decision.

Hot Take: The Tokio Marine TM PA (Personal Accident) policy offers robust coverage for accidents resulting in injuries, including accidental death, dismemberment, burns, and medical expenses. The optional riders provide additional benefits such as hospital care and lifestyle care. The policy also includes a unique feature of free coverage for children. It is important to carefully review your needs and compare different policies before making a decision.

Subscribe to FMS Financial Insights to receive our weekly newsletter and stay updated on the latest financial news and insights.


Benjamin Low
Benjamin Low

Benjamin is known as The Passive Income Guy. He has helped hundreds of people to build passive income. He is also a member of the Million Dollar Round Table, and Certified Financial Planner™ (CFP®) and Certified Private Banker (CPB).

Leave a Reply

Your email address will not be published.