What is the difference between premium and benefits
An insurance premium is the fee paid by the policy holder to the health insurance provider, which entitles them to the benefits under the health insurance policy. The insurance premium is usually paid once per year, but it can also be paid per month or per day, depending on the agreement between the insurer and policy holder.
The insurance premium is normally calculated by the age and residential location of the policyholder. Other factors can influence a premium amount, such as the medical benefits desired by the policy holder or premium saving benefits such as deductibles.
The health insurance policy is a contract between the insurer and the policy holder. The health insurance policy will include a list of benefits that the policy holder is entitled to. Typical benefits of a health insurance policy will include inpatient and outpatient cover. Other types of benefits can be included on a health insurance plan, such as maternity, dental, member and premium saving benefits.
Health Check up
Prenatal and Postnatal Care
Birth with complications
Routine Check up
Scale and Polish
Restorative Dental (Fillings, Root Canal)
Major Dental (Braces, Crown, Bridge)
Health and Well Being services
Medical, Security and Legal Advice
Second Opinion Medical Service
Comprehensive Health Screening Checks
Discounts on health care services
Claims and Customer Service Helplines
Premium Saving Benefits:
Deductibles - policy holder pays for their medical treatment up to a certain amount, before receiving reimbursement from the insurance company.
Geographic Area of Coverage - exclusion of medical cover in certain geographic regions such as the United States can reduce the price of a premium.
For more information on the definitions of insurance terms or any other health insurance inquiry, please contact us today.
Simplifying Health Insurance
Moving Abroad Guide
Our online guide tells you everything you need to know and prepare for as an expat moving abroad.
Use an online quotation tool to compare health insurance plans on the market.
Contact Us Now
Our health insurance advisors will ensure that you get exactly the cover you need.
Cost of Health Plans 2022
Read about the average cost of international health plans in 100 locations, as well as unlock analysis on the latest health insurance trends.