Claim Based Pricing

AIA Vitality

Visit the AIA Vitality website

GIVING YOU CONTROL OVER YOUR PREMIUMS

Claim-based pricing (CBP) is a fairer pricing
approach where your premiums are
adjusted
based on the claims that you make.

UP TO 25% DISCOUNT

off your Standard Level premium if no claims are made under your AIA Max VitalCare – highest discount in the market!

NO INCREASE

in premium level if you choose to seek treatment at a public / restructured hospital.

keeping healthcare costs affordable

Medical claims have been growing quickly which has led to rapid increase in premiums. The introduction of claim-based pricing aims to address this by encouraging more prudent use of healthcare services.

STABILISE CLAIMS

for continued access to affordable
and quality healthcare.

REWARD CUSTOMERS

who are prudent in their use of
healthcare services.

who does this apply to?

only for AIA MAX vitalcare customers

All existing AIA Max Essential A policies will be converted to AIA Max VitalCare from policy anniversary on / after 1 April 2021.

AIA Max VitalCare is a rider attached to AIA HealthShield Gold Max A that helps to keep out-of-pocket expenses to the minimum, while giving you control over your premiums.

AIA MAX VITALCARE

Medical Protection

HOW DOES CLAIM-BASED PRICING work?

With claim-based pricing, premiums at each policy anniversary may increase or decrease depending on the source of claim and the amount of claim paid under AIA Max VitalCare during each policy year.

Source of Claim	Claim Amount	Movement of Premium Level
No claims	$0	Down 1 Level (Limit at Standard Level)
Public / Restructured Hospital	Any amount	Down 1 Level (Limit at Standard Level)
Private Hospital	$1,000 and below	Remains same level
	Above $1,000 and up to $5,000	Up 2 Levels (Limit at Level 4)
	$5,000 & above	Up 4 Levels (Limit at Level 4)

There are 5 premium levels – starting with Standard Level (the lowest premium level), followed by Level 1 to Level 4 (the highest premium level). Your premium level will determine how much your premium will be multiplied by.

(based on age next birthday)

The longer you stay in standard level, the more you save on your premium!

No claims made for...	Discount
1 policy year	10%
2 consecutive policy years	10%
3 consecutive policy years	15%
4 consecutive policy years	15%
5 or more consecutive policy years	25%

The longer you stay in standard level, the more you save on your premium!

No claims made for...	Discount
1 policy year	10%
2 consecutive policy years	10%
3 consecutive policy years	15%
4 consecutive policy years	15%
5 or more consecutive policy years	25%

For the purposes of determining premium level and no claim discount rate, policy year refers to the 12-month period immediately prior to the 2 calendar months before your next policy renewal.

(based on age next birthday)

The longer you stay in standard level, the more you save on your premium!

No claims made for...	Discount
1 policy year	10%
2 consecutive policy years	10%
3 consecutive policy years	15%
4 consecutive policy years	15%
5 or more consecutive policy years	25%

The longer you stay in standard level, the more you save on your premium!

No claims made for...	Discount
1 policy year	10%
2 consecutive policy years	10%
3 consecutive policy years	15%
4 consecutive policy years	15%
5 or more consecutive policy years	25%

For the purposes of determining premium level and no claim discount rate, policy year refers to the 12-month period immediately prior to the 2 calendar months before your next policy renewal.

Here's an Example

John, 31 years old, pays a Standard Level Premium for his AIA Max VitalCare policy at his policy issue date, 1 May 2021.

1 May 2021

John pays a Standard Level Premium

1 May 2022

No claim was made in the past policy year

Down 1 Level*

1 May 2023

Claimed for a $6,000 bill from a public / restructured hospital

Down 1 Level*

1 May 2024

Claimed for a $5,100 bill from a private hospital

Up 4 Levels

1 May 2025

No claims made in the past policy year

Down 1 Level

*The lowest premium level is Standard Level. Therefore John’s premium level remains at Standard Level.

HAVE A QUESTION about claim-based pricing?

You may find the answer in our Frequently-Asked Questions (FAQs).

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CLAIM-BASED PRICING (CBP)

GIVING YOU CONTROL OVER YOUR PREMIUMS

keeping healthcare costs affordable

STABILISE CLAIMS

REWARD CUSTOMERS

who does this apply to?

only for AIA MAX vitalcare customers

AIA MAX VITALCARE

HOW DOES CLAIM-BASED PRICING work?

Here's an Example

1 May 2021

1 May 2022

1 May 2023

1 May 2024

1 May 2025

HAVE A QUESTION about claim-based pricing?

HAVE A QUESTION about claim-based pricing?

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