Tokio Marine's TM 365 plans may be good options for seniors looking for post-accident coverage. However, its low accidental death coverage and rather uncompetitive prices lead to plans that may not provide the same value to the average consumer.

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Tokio Marine TM 365 Personal Accident Highlights

Tokio Marine's TM 365 plans can be a good fit for seniors due to its post-accident benefits and length of coverage. You have 4 plans to choose from, with Plan A being the basic tier option, B & C being mid-tier options and Plan D being the top-tier option. On average, we found premiums to cost around 35% below average when comparing them to their plan tier averages (basic, mid-tier and top-tier options). However, when comparing these plans to other plans with the same coverage amounts, they actually cost up to 26% above average. This causes their value to be quite low and thus it may not be the best option for individuals looking for budget-friendly options.

In terms of coverage, TM 365 offers a wide array of benefits. These range from common benefits, such as a weekly income benefit, to less common ones, like a coma benefit. Most of these benefits focus on post-accident recovery, with coverage for mobility aids, home modification and trauma support counseling. Your family will also receive a cash benefit if you pass away. These benefits make Tokio Marine's plans decent options for the elderly—particularly because they see longer recovery times after serious accidents. Another added perk for older individuals is that you'll be able to renew plans A, B or C until you turn 85 if you purchase them before you turn 65. This age limit is 10-15 years higher than most plans on the market.

However, these plans won't be good options for the average individual looking for high coverage or high value plans. TM365 coverage is capped at S$300,000 for accidental death and total and permanent disablement, which is quite low compared to other plans. Furthermore, despite there being many benefits, their coverage amounts are below average. Lastly, you can't purchase this plan online and have to go through your financial advisor instead. While this may be the preferred method for individuals who are not computer savvy, it may be more cumbersome for young, working professionals.

Tokio Marine TM 365 Plan A

Elderly individuals looking for a low coverage and affordable plan may benefit from Tokio Marine's TM 365 Plan A. It offers S$50,000 of accidental death and disability coverage, with a 150% payout for total and permanent disability. Furthermore, there are a large number of miscellaneous benefits that can support the elderly after an accident. These include trauma counseling coverage, home modification & mobility aids benefits and a caregiver grant (to hire a caregiver if you suffer from permanent disablement).

However, while at first glance it seems like its competitively priced compared to other basic plans on the market, it actually isn't. When comparing it to other S$50,000 sum assured PA plans, Plan A's premiums cost 7% below average to 14% above average. In fact, we found this plan to cost more than several other S$100,000 options on the market. Therefore, the average working consumer who does not need these benefits may find better value with other insurers.

Tokio Marine TM 365 Plan B & C

Tokio Marine's TM 365 Plans B and C are mid-tier options with premiums ranging anywhere from 10% cheaper to 10% more expensive than average. As individual plans, they don't stand out among their competitors neither price-wise nor coverage-wise. However, they do stand out with the types of benefits available and policy length. First, you can renew these plans until you turn 85 if you bought these plans before you turned 65. Second, you will get a wide range of benefits ranging from medical expense coverage to trauma benefit coverage (counseling for PTSD after a permanent disability).

With 10% below average prices, retirees and office workers may find these plans to be budget friendly and offer decent value. However, prices for class 2 or 3 occupations like salesmen, bakers, plumbers and other jobs involving light machinery are above average. Thus, these consumers may not find as much benefit in these policies unless they value the benefits offered more than the price.

Tokio Marine TM 365 Plan D

While the rest of Tokio Marine's TM 365 plans may be a good option for seniors, it is not the case with Plan D. First, in addition to premiums being less competitively priced compared to other S$300,000 sum assured plans, your coverage ends when you turn 75. After this point, you'll have to downgrade to the A, B or C plans. Not only that, but you won't be able to purchase this plan if you are retired. Despite TM 365 offering unique benefits, we found most of the benefits have below average coverage amounts compared to the average top-tier plan. This means this plan may not provide enough coverage for individuals looking for high payouts. All in all, if you would prefer a high coverage, top-tier plan we recommend other insurers.

Tokio Marine TM 365 Optional Add-Ons

Tokio Marine's TM 365's Child Protector is the policy's only optional add-on. This add-on will provide the same coverage for your dependent children except for the weekly income benefit. It offers 50% of the coverage of whichever parent bought a plan that is the lower sum assured. So for instance, if you bought Plan A but your partner bought Plan C, your child would receive 50% of the benefits of Plan A. This add-on costs between S$42.80 and S$123.05.

Policy Exclusions

This policy does not cover suicide or attempted suicide, self-inflicted injury, pregnancy and childbirth. However, there is an exception for miscarriages due to accidents. Last, you won't be covered for accidents arising from pre-existing conditions or disabilities.

Claims & Contact Information

To file a personal accident claim with Tokio Marine, you should notify them as soon as possible after the eligible event occurs. Next, you should download their personal accident form submit all the original documents by post. These documents include claim forms, original invoices, police invoices and any other documents required by Tokio Marine.

Tokio Marine TM 365 Cost & Features

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To avoid gaps in coverage or overpaying for insurance, it is imperative you compare benefits and pricing for as many plans as you can. Below, we summarised Tokio Marine's TM365 plans' coverage and premiums. You can read our guide to the best personal accident insurance plans currently available on the market if you'd like to compare it other plans on the market.

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