Page 26 - MEDICAL AND HEALTH INSURANCE

MEDICAL AND HEALTH INSURANCE

The range of individual products for the individual market is generally

divided into:

 Budget

 Standard

 Comprehensive

 International.

Budget products provide a minimum cover for a low premium without any
frills and appeal to those who have a budget constraint. The coverage only

caters for hospitalisation expenses without pre- or post-hospitalisation

benefits and a low annual limit and at times for public hospital admission

only.

Standard products are like those offered by comprehensive cover except
that the coverage limit may be lower and without the long-term illness

cover of outpatient cancer or kidney dialysis treatment benefits.

Comprehensive products generally provide a wide range of services that

will permit customers to be admitted to high-end or five-star hospitals for

treatment. The limits are high along with the premium charged.

International products cater more for those who travel frequently or
reside outside the home country and require a local policy to be issued.

The products for the group market are divided into:

 Small group

 Large group.

The classification of small group and large group are by their group size,

which may differ amongst insurers.

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