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MEDICAL AND HEALTH INSURANCE
CHAPTER 2: PRIVATE MEDICAL INSURANCE PRODUCTS
AND PRINCIPLES
2.1 PMI POLICIES
PMI policies provide financial protection to people who decide to fund
their own medical treatment against medical expenses arising out of
illness, sickness, disease or injury resulting in hospitalisation or day care
procedures, subject to the types of products purchased.
Health insurers offer coverage from basic to comprehensive, integrating
major medical as well as long-term care insurance. The eligible age may
differ from insurer to insurer.
Notwithstanding the development of PMI, the policies are subject to
regulatory guidelines and industry association guidelines to safeguard the
interests of consumers and stakeholders of the insurance company.
2.1.1 OVERVIEW OF PMI MARKET AND ITS RELATED PRODUCTS PMI
PMI products are offered by all the following insurance companies:
General insurance companies
Life insurance companies
Takaful operators.
The PMI market is divided into 3 main segments:
a) Individual market
b) Voluntary group market
c) Company and corporate group market.
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