Claim-based pricing (CBP) is a fairer pricing approach where your premiums are adjusted based on the claims that you make.
Giving you control over your premiums
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.
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AIA Max VitalCare is withdrawn, and it is not available for new business or for switching in. For more information on your AIA Max VitalCare Policy, please refer to your contract or approach your AIA Financial Service Consultant / Insurance Representative.
How does Claim-based pricing work?
How your claim affects your premium
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) |
The longer you stay in Standard Level, the more you save on your premium!
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.
Age till 54
Age 55 and above
(based on age next birthday)
| In Standard Level, if no claims are made for ... | You will enjoy discount of |
|---|---|
| 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)
| In Standard Level, if no claims are made for ... | You will enjoy discount of |
|---|---|
| 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.
