The right health insurance policy caters for all medical needs and has multiple other benefits.
Additionally, with the health of cost rising considerably, it is wise to get the right cover to ensure that both individual and groups enjoy the competitive quotes offered by health insurance providers.
In the recent past, Singapore has enjoyed surging growth of the health insurance market as existing health insurance firms diversify their products, and new entrants make way into the market. Most health insurers in Singapore cover the medical expense, critical illnesses, and disability income.
The following five (5) health insurance providers in Singapore are the best and most dominant.
Great Eastern Life Insurance
Great Eastern Insurance Company, the oldest and most established life insurance group in Malaysia and Singapore was founded in 1908. The company boasts of over S$60 Billion in assets and has over 5 million policyholders.
Mostly, the insurance firm generates its clients through a tied agency teams, bancassurance agency, and Great Eastern Financial Advisers, a financial advisory firm. Its health insurance solutions cover both personal and corporate individuals.
Its supreme health insurance plans are Supreme MediCash and SupremeShield which have a global advantage to the policyholders.
NTUC Income Health Insurance
NTUC Income is the only insurance co-operative in Singapore and as founded in 1970. The company has an asset value of over $33 billion assets under its management. It serves over 2 million customers who have over 4 million policies hence it is regarded as the top composite insurer in Singapore.
NTUC Income Health insurance plans include; Enhanced IncomeShield, IncomeShield Standard Plan, Income Shield Plan, Managed Healthcare System, Managed Healthcare System (Outpatient Plan) Co-Pay Assist Plan, ElderShield, and PrimeShield.
AXA Insurance Singapore
AXA Insurance is a global insurance brand founded in 1985 in France. Over time it has grown to other nations and has established itself as a major health insurance solutions provider in Singapore.
AXA Insurance Company offers SmartCare Health Insurance policies under its health cash plan. Additionally, its health insurance covers include; HealthVital Major Illness Insurance cover that protects policyholders to the age of 100 years and covers 56 major and minor illnesses. Interestingly, through its Global Elite Health Plan, it offers its insurance policy holders medical protection globally.
Prudential Singapore
Prudential Singapore is an indirectly wholly owned subsidiary of Prudential PLC UK. The company has over 85 years of service in Singapore, and its asset value is in excess of S$31.5 billion and has a market share of 1.5 million insurance policyholders.
Under its medical insurance cover, Prudential Insurance Singapore offers differentiated PRUshield, PRU shield extra and PRUshield Extra Lite health plans and PRUfirst alongside other benefits such as MediCash and a global outreach for its policyholders.
Aviva Singapore
Aviva Insurance was founded in 1696 in London hence boasts of over 300 years of experience in the Insurance industry. In 2002, as a result of large mergers, it was rebranded to Aviva. Currently, it operates in Singapore, China, HongKong, India, and Taiwan.
Aviva Singapore has grown significantly in the recent past as a result of its diversified health plans which include; MyShield, IdealMedical, and Global Health plans as well it has an integrated shield plan for the nationally recognized ElderShiled Scheme.