Is the Personnal Accident Insurance (known as PA) covered irrespective ages, especially hoary age of 60 forwards?
For life insurance, insurance company reject the nouns on
senior citizens of 60 onward. What more or less PA , is there any restriction?
Answers:
Based on Malaysia scenario, you are right.
PA insurance covered irrespective of age. The maximum entry age is 60 or 65 depending on the insurance company's practise. Most of the insurance companies use age 60 as the maximum age of entry.
PA insurance premium rate is base on occupational classes.There are three classes of occupation:
Class 1: Occupations involving clerical, administrative, clerical work, solely in department or non-manual work
Class 2: Occupations involving work of supervision, not involve use of tools or machinery (non-manual work), outdoor sales, with the sole purpose occasionally expose to hazardous situation like site plan
Class 3: Occupations involving manual work, use of tools or machinery.
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Any restriction within PA insurance acceptance?
The answer is Yes or No.
You hold to declare to the insurance company a few things beforehand the insurance company tells you whether nearby is any restriction or not.
For example: whether you have any physical defect or suffer from infirmity, whether you sustain any injury or receive medical treatment (due to accident or Sickness).
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My answer pertaining to duration insurance application:
Most of the life insurance companies contained by Malaysia accept applicant up to age 70.
Because of poor condition conditions of applicant age 60 and above( for example, high blood pressure, lofty colestrol, diabetes) the acceptance rate is low.
Life insurance typically covered the person till loss or 85 years old for some companies if you enjoy an existing policy. Unlike personal Accident Insurance, normally one and only covered till 60 - 65 years old.