Partners bumps up medical pricing
Partners Life is boosting its medical premiums from the end of this year.
Tuesday, November 27th 2018, 12:24PM
The insurer said, to be able to continue to offer its product, it had to review its pricing structures.
"Product innovation is something we take extremely seriously and as such we spend considerable time in balancing a first-class product offering with a competitive pricing structure. The time has now come to apply a premium increase across our medical benefit range," it said in a note to advisers.
"Even with this premium change Partners Life medical products remain extremely competitive.”
Changes take effect on December 31 for new policies.
Medical, specialist and tests benefits for clients aged up to 20 will have a premium increase of 11%.
For those aged 21 and over, those benefits will increase 9% in price for men and 14% for women.
Existing policies will have their prices updated at their policy anniversary.
All other benefits will not incur a premium rate change.
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