With healthcare costs increasing steadily, it's understandable that both the cost of healthcare as well as health insurance are an increasing concern for everyone. One method to manage the costs of health insurance is co-payments; Co-Pay is a mechanism that allows insurance providers to reduce the cost and present a win-win scenario for both insurers and the insured. A health.
April 27, 2021
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Health enthusiasts and fitness junkies rejoice! You score lower premiums for your insurance with these plans, just by staying fit as a fiddle.
Besides the obvious reasons for staying healthy (being illness-free and looking attractive), there is also insurance merit to keep fit. Insurance companies in Singapore are starting to adopt claims-based pricing, a fairer method of pricing for consumers that also encourage them to look after their health.
Claims-based pricing takes reference from the no-claims discounts that are offered for car insurance plans, where your premiums are lowered if you don’t get into a car accident.