NEW RIDERS
The four major insurers – AIA, Prudential, Great Eastern and Income Insurance – have introduced new rider products that comply with the updated rules.
These insurers are designated domestic systemically important insurers. This means that if they fail, their failures are assessed to have a significant impact on the financial system and the broader economy in Singapore.
Great Eastern, which unveiled its new products on Tuesday, is offering four rider plans with premiums being reduced between 16 per cent and 50 per cent.
For those aged between 40 and 60, premiums for Great Eastern’s private hospital plan are 42 per cent cheaper than the previous rider.
For the same age group, premiums for its restructured hospital A Ward plan have been halved compared to the previous rider.
