NTUC Income
The Gen XY Lifestyle
NTUC Income Launches A New Insurance Plan
NTUC Income has launched an industry-first insurance plan that extends insurance coverage to safeguard users of personal mobility devices (PMD)*, pedal bicycles and power-assisted bicycles.
Named the Personal Mobility Guard, the insurance plan covers accidental death, permanent disability, medical expenses against injuries and third-party liability when one meets with accidents when riding, mounting or dismounting a personal mobility device or bicycle in Singapore.
While most personal accident policies cover death, permanent disability and medical expenses, Personal Mobility Guard further closes the coverage gap by providing third-party liability protection. It offers up to S$1 million coverage for paying damages against third parties due to accidental injuries or damage of property. In so doing, it paves the way for a liability framework which benefits users of personal mobility devices, cyclists and pedestrians.
The use of personal mobility devices and bicycles is on the rise in Singapore. In tandem with the trend is also the increasing number of accidents that involved personal mobility devices and bicycles. Figures from the Traffic Police revealed that there were 17 fatal accidents involving cyclists or their pillion riders in 2015, up from 15 such accidents in 2014 and 2013. In the same period, the Ministry of Transport reported that there were 27 road accidents involving power-assisted bicycles, up from six accidents in 2014 and 2013 respectively.
“Users of personal mobility devices and bicycles, as well as pedestrians are vulnerable when they share common spaces. We designed the Personal Mobility Guard to give protection to users of personal mobility devices and bicycles so that they have peace of mind as they participate in leisure activities. We hope the third-party liability coverage further promotes responsible cycling and riding in the community, and will go towards preventing hit-and-run incidences should an accident occur,” said Ms Annie Chua, Vice President for Personal Lines, NTUC Income.
In-line with NTUC Income’s philosophy of making insurance and protection available and affordable to all segments of society, the Personal Mobility Guard is affordably priced at S$96 a year. It will be made available for purchase on www.income.com.sg/PMG from 25 April 2016.
*PMDs refer to, but are not limited to, wheelchairs, hoverboards, power-assisted scooters, power-assisted unicycles, rollerblades, roller-skates, skateboards, skate-scooters and unicycles.
