Insurance Premiums

How much does health insurance cost?


Premiums can be charged in different ways. With regular premium policies, you pay regular premiums throughout the life of the policy. With single premium polices, you pay one premium at the start of your cover.

If you are paying regular premiums, the amount of the premiums may change as you grow older. Before you buy your policy, you will be given a table which shows the premium you will have to pay in the future, depending on your age at that time. Do note that in most cases, the premiums shown are not guaranteed and are subject to change. The insurer may have the right to change the premium at any time by giving you written notice.

You must keep up with payments of any regular premiums due. So before you buy any policy, make sure you can afford to pay the premiums over the long term. If you don’t keep up with premiums, the policy may lapse and you will not have the coverage you want when you need it.

Deductibles and co-insurance (applicable for medical expenses insurance plans only)

These are common conditions in medical expense insurance policies and help to keep premiums affordable. Read more on Deductibles and Co-Insurance.


The above information is prepared in collaboration with the Life Insurance Association of Singapore and the General Insurance Association of Singapore.