What is health insurance?

It is a type of insurance plan that helps the insured manage the costs of unexpected medical and surgical expenses. It covers various expenses including hospital stays, surgeries, critical illnesses, disabilities, and even long-term care.

Who needs health insurance?

Unexpected health issues can affect anyone, from the young to the old and the medical cost involved may be hefty. Hence, a health insurance plan is an essential financial safety net for all.

How do I choose health insurance?

Evaluate your specific needs including age, existing medical conditions, potential familial health concerns, and anticipated healthcare requirements. Then determine an appropriate premium payment plan that aligns with your financial capabilities. Compare deductibles, co-payments, and coverage limits to find a plan that fits your preferences. Take into consideration the network of healthcare providers, facilities, and services included in the plan. Thoroughly review the policy terms and conditions to understand the coverage limitations and exclusions. Take note of the different health insurance plans that are available: hospitalisation and surgical plans, critical illness plans, hospital cash plans, etc. If you are unsure about anything in the plan, speak to a qualified Financial Representative to find out more.

What health insurance do I need?

While all Singapore Citizens and Permanent Residents are covered under a basic health plan provided by the government (i.e. MediShield Life), you can opt for additional health insurance coverage for more protection. The health insurance policy you choose will depend on your needs, including your health requirements, preferences, lifestyle, age, medical conditions, and family composition. Different plans serve various purposes: Hospitalisation and Surgical plans: cover hospital room and board, doctor fees, and other related charges during hospitalisation, for example: Great Eastern’s GREAT SupremeHealth and GREAT TotalCare, Hospital Cash plans: provides payout for each day of hospitalisation. The payout can be used in whichever way one may wish, for example: paying the daily living expenses during the recovery period, for example, Great Eastern’s GREAT Hospital Cash, Critical Illness plans: provide a lump sum payout upon diagnosis of a critical illness covered by the plan, such as cancer or heart disease, for example: GREAT Critical Cover Series, GREAT Cancer Guard, Disability Income: Provide income if you are unable to work due to disability, for example Pay Assure, Long Term Care: Pay for care if severely disabled, for example GREAT CareShield Ultimately, whichever plan you choose will depend on your unique circumstances.

Where can I buy health insurance?

For hospitalisation and surgical plans, you must purchase via a qualified Financial Representative as it requires medical underwriting. For health plans with minimum health underwriting, you may purchase online. Talk to our qualified Financial Representatives today to find out how you can protect yourself against unexpected health issues that may incur hefty medical expenses.

Claims-Adjusted Pricing feature on GREAT TotalCare P Signature Plan | GREAT SupremeHealth

Claims-Adjusted Pricing feature on GREAT TotalCare P Signature Plan (for policy incepted and renewed on and after 1 April 2024)

What is Claims-Adjusted Pricing

Claims-Adjusted Pricing (CAP) framework is an equitable and sustainable framework that allows you to decide on your preferred treatment option based on your circumstances.

It is applicable to policyholders with GREAT TotalCare P Signature supplementary plan. The yearly renewal premium for your supplementary plan will be determined by your personal claims experience and prudent use of healthcare services during the Assessment Period¹.

Learn more about CAP and how it benefits you

With CAP, your Premium Level at each policy renewal may increase or decrease depending on the source of claim and the total amount of claim paid under your GREAT SupremeHealth and GREAT TotalCare during the Assessment Period¹.

Source of Claim	Total Amount of Claim(s) Paid by the Company during the Assessment Period	Premium Level (at Renewal date)
Private Hospital / Private Community Hospital / Private medical clinic that is not a Panel Provider	S$1,000 and below	Up 1 level
	Above S$1,000	Up 2 levels
Private Hospital / Private Community Hospital / Private medical clinic that is a Panel Provider	S$1,000 and below	Remain on same level
	Above S$1,000	Up 1 level
Restructured Hospital / Government-funded Community Hospital / Inpatient Palliative Care Institution	Any amount	Remain on same level
No Claim	Nil	Down 1 level

Depending on your age, there are 5 premium levels as shown below in ascending order from left to right. Your premiums are determined by multiplying the Multiplier Factor corresponding to the applicable Premium Level at policy renewal.

Premium levels for Life Assured whose age is below 65 Age Next Birthday at renewal
Premium Level	Preferred	Standard	Level 1	Level 2	Level 3
Multiplier Factor	0.8	1.0	1.5	2.0	2.5

How does it work?

With CAP, you will start at the Preferred Premium Level which gives you 20%^#off the standard premium rate when you are healthy. At each policy renewal, your Premium Level will be determined by any previous claims²you have made during the Assessment Period¹.

Staying at the Preferred Premium Level

If you stayed healthy and did not make any claim during the Assessment Period¹, you will remain at the Preferred Premium Level and continue with 20%^# savings off your renewal premium.

How does CAP change upon a hospitalisation claim?

The scenarios below show how CAP changes for a Life Assured whose age is 65* and below at renewal.

Claim Made Under Specialists or Medical Practitioners in Restructured Hospital

If you were on the Preferred Premium Level and made a claim for treatment in a Restructured Hospital, (including Government-funded Community Hospital and Inpatient Palliative Care Institution), you will remain at the Preferred Premium Level and continue to enjoy the same 20%^# discount off your next policy renewal.

When will your Premium Level change upon the next policy renewal?

Should you prefer your medical care and support to be provided by a Private Hospital and/or private medical specialists, here’s what you need to know to make an informed decision on your choice of healthcare.

Claim Made Under Private Panel or Extended Panel of Specialists

We have over 800 Private Panel Specialists supported by our dedicated call-in service, Health Connect. When a planned hospitalisation is required, call Health Connect for us to help arrange a Private Panel Specialist consultation according to your preference and convenience, and to get pre-approval of your eligible medical expenses.

If you were on the Preferred Premium Level and made a claim for treatment with a private panel specialist in a private hospital, here’s how your Premium Level will change:

For a claim amount S$1,000 and below - you will remain at current Premium Level and continue to enjoy the same 20%^# discount off your next policy renewal.

For a claim amount of above S$1,000, you will lose the 20%^# preferred discount and your premium level will increase by 1 Premium Level on your next policy renewal.

Claim Made Under Private Non-Panel of Specialists

If you were on the Preferred Premium Level and made a claim for treatment with a private non-panel specialist in a private hospital, here’s how your Premium Level will change:

For a claim amount S$1,000 and below - you will not enjoy the 20%^# preferred discount and you will be at the Standard Premium Level on your next policy renewal.

For a claim amount above S$1,000 – you will lose the 20%^# preferred discount and your premium level will increase to Premium Level 1 on your next policy renewal.

How can I maintain affordable premiums in the long run?

We understand that you may require hospitalisation and/or medical treatments and may be concerned on the possibility of increased premium in the following year. Here are some options which can help you decide better:

Consider if there is a need for in-hospitalisation stay for minor medical attention.
Consider having your medical treatment supported through Singapore's restructured hospitals or our Panel Specialists.
Consider if your employer has additional health coverage that enables claims or reimbursement from your company’s group insurance employee benefits plan so you can make your claim under that coverage instead.

How to maximise benefits from your other insurance plans?

By reducing the claim amount made under your Integrated Shield policy and supplementary plan, you can better manage future premium increments. One way to do this is to recover the cost of your medical claims from other insurance plans that you are insured under, such as your company’s group insurance employee benefits plan. By doing so, you can reduce the claim amount made under your Integrated Shield policy and help us keep your premiums more affordable in the long term.

You may reach out to your Financial Representative or call our Customer Service Officers at 1800 248-2888 or email us at wecare-sg@greateasternlife.com for assistance.

¹ If it is the first policy year that your policy is subject to CAP, the Assessment Period refers to a 9-month period starting on the Commencement Date of your policy or the first renewal date that your policy is renewed into CAP (whichever applicable). Otherwise, the Assessment Period refers to a 12-month period starting 3 months immediately preceding the last renewal date, and ending 3 months immediately preceding the relevant renewal date for which the premium level is to be assessed.

² Refers to all claims paid by us from your GREAT SupremeHealth and GREAT TotalCare (where applicable).

^#For GREAT TotalCare P Signature that are incepted with no premium loadings and/or exclusions. T&Cs apply.

* Refers to age next birthday of the Life Assured.

Subject to terms and conditions as stated in the GREAT TotalCare P Signature policy contracts.

This advertisement has not been reviewed by the Monetary Authority of Singapore.

The above is for general information only. It is not a contract of insurance. The precise terms and conditions of this insurance plan are specified in the policy contract.

Maximum entry age for GREAT SupremeHealth (P Plus, A Plus and B Plus) and GREAT TotalCare is age 75 years next birthday.

GREAT TotalCare is not a MediSave-approved Integrated Shield plan and premiums are not payable using MediSave. GREAT TotalCare is designed to complement the benefits offered under GREAT SupremeHealth.

These policies are protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or SDIC websites (www.lia.org.sg or www.sdic.org.sg).

Information correct as at 31 April 2024.

Enjoy Health Connect benefits with our health plans

Through Health Connect, you will enjoy access to one of the largest private specialist panel in Singapore and have the assurance of what is covered before your treatment. There’s no need for any cash deposit upon hospital admission as we settle your eligible medical expenses directly with the hospital.

Learn more about Health Connect

Life and health

Wealth

Lifestyle

National schemes

Prestige series