Medical Insurance (Private Room Plan)
5 Star Products

Medical insurance products have complex benefit structures and policy terms requiring professional medical knowledge, making it difficult for consumers to understand a product, let alone compare across products.

To allow comparisons across products, 10Life focusses on the medical coverage of selected medical cases and auxiliary benefits when evaluating medical insurance (private room). The top tier with highest medical coverage and auxiliary benefits can be awarded as “5 Star Product”.

award
Private Room (Global) – Overall Medical Rating
In alphabetical order by company name
Category
award
Private Room (Global) – Overall Medical Rating
Category
In alphabetical order by company name
Bupa Global
Major Medical Global Health Plan
China Life
Master Care
Chubb
Chubb Assured Medical Series
Cigna
Cigna HealthFirst Elite Medical Plan
Hang Seng
Bupa Global Prestige VHIS Plan
HSBC Life
HSBC Voluntary Health Insurance Flexi Plan Diamond
Prudential
PRUmyhealth prestige
Sun Life
SunHealth Medical Premier
How we rate Medical Insurance products
10Life consults medical specialists to get medical expense data for common medical cases in the five groups below. Our actuaries then estimate the coverage ratio of each case based on the benefit limits and policy terms of each product. The 10Life Overall Medical Coverage Score (Private Room) is based on the average coverage ratio across all cases and auxiliary benefits. “5 Start Product” is awarded to products with score above the benchmark.
Cancer
Vascular Diseases
Injury
Investigative Treatments
Minor Cases
Auxiliary Benefit
What is the difference between medical insurance and critical illness insurance?

While both is often categorised under “health insurance”, they are very different in nature.

Medical insurance is also known as hospitalisation insurance. The main purpose is to cover the medical expenses if the insured is hospitalised, with some products also covering specific outpatient treatments. Claims are on an expense reimbursement basis, on the condition that the expense is “Medical Necessary”.

Critical illness insurance covers the insured against specified diseases. A lump sum benefit is paid if the insured is diagnosed with a specified disease that matches the definition in the policy provisions. In general, insurance companies do not limit the usage of the benefit payment.

How dose traditional medical insurance work? What is a “Full Coverage” product?

Traditional medical insurance defines coverage limits item by item, e.g. room and board, surgeon fee, miscellaneous fee, etc… If the medical expense on particular item exceeds the limit, one may recover the excess from Supplementary Major Medical (if available, and after any co-payment), and any further excess needs to be paid out-of-pocket by the insured.

“Full Coverage” medical insurance generally does not limit the coverage amount in a single item. The medical expense can be covered as long as it does not exceed the per policy year, per disability or lifetime limit. However, the relevant medical expense needs to be “Medical Necessary” and “Reasonable and Customary”.

What is deductible?

The deductible is what the amount the insured needs to pay out-of-pocket first, while the insurance company covers the medical expense in excess of the deductible. For example, for a policy with a $10,000 deductible, if the eligible medical expense $50,000 the insurance company would only pay $40,000.

Disclaimer
  1. The information on 10Life is intended for general education purpose and reference only, and does not constitute any insurance, financial, investment or other professional purchase advice or solicitation to buy insurance, financial or investment products. 10Life Product Ratings and Scores are mathematical calculations based on public product information and assumptions for generic customer segments. The Product Ratings and Scores DO NOT reflect YOUR personal needs. 10Life hereby excludes any liability arising from using the information and will not make warranty or guarantee on the accuracy, completeness and timeliness of the information or for any claims and / or losses caused thereby. You should seek independent professional advice and review the insurance product information carefully before purchasing any insurance products. The information shown in the communications placed on 10Life does not constitute an offer or solicitation for the purchase or sale of any banking or insurance products or services.
  2. 10Life Insurance Product Ratings are based on facts and data, and are not be influenced by any partnerships with insurance companies.
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