{"id":1127,"date":"2018-06-25T11:57:33","date_gmt":"2018-06-25T03:57:33","guid":{"rendered":"https:\/\/www.pacificprime.sg\/blog\/?p=1127"},"modified":"2023-08-04T17:10:40","modified_gmt":"2023-08-04T09:10:40","slug":"renewing-your-health-insurance","status":"publish","type":"post","link":"https:\/\/www.pacificprime.sg\/blog\/renewing-your-health-insurance\/","title":{"rendered":"Everything you need to know about renewing your health insurance plan"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Just like any type of insurance, <a href=\"https:\/\/www.pacificprime.sg\/plans\/\">medical insurance<\/a> is usually signed for a fixed term of one year with the possibility of renewing your health insurance. This allows you to extend coverage for another year without having to re-qualify for coverage. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most insurers offer a lifetime renewal option, but some policies <\/span><span style=\"font-weight: 400;\">are signed on a yearly renewable basis up to a certain age, and there are some that may reject your renewal, leaving you with no medical cover. It&#8217;s good to know what type of guarantee your policy has and see if it\u2019s time for a change, as not all products were created equal.<\/span><\/p>\n<style type=\"text\/css\"><!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--><\/style>\n<p><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:[null,0],&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\"><div class='code-block code-block-5' style='margin: 8px 0; clear: both;'>\n<p><a href=\"https:\/\/www.pacificprime.sg\/compare-quotes\/step-one\/?campSource=PPSG-Blog&utm_source=blog&utm_medium=cta_banner&utm_campaign=banner&utm_content=quote?campSource=PPSG-Blog&utm_source=blog&utm_medium=content_banner&utm_campaign=banner&utm_content=general\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-778\" src=\"https:\/\/www.pacificprime.sg\/blog\/wp-content\/uploads\/2024\/07\/Blog-Banner_Singapore_1.jpg\" width=\"1138\" height=\"493\" \/><\/a><\/p><\/div>\n<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">The difference between guaranteed lifetime renewal policies and the ones without a lifetime guarantee. <\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The lifetime renewal guarantee means that if you get diagnosed with a serious illness or chronic medical condition during the policy term, your health insurance company can\u2019t refuse the renewal of your policy or leave you with no coverage. Such guarantees can save you hefty amounts of money in the case you develop any chronic conditions. Some of the pre-existing conditions that could lead to your policy not being renewed (in the event you don\u2019t have a lifetime guarantee) are arthritis, asthma, cancer, diabetes and some viral diseases such as hepatitis C and HIV \/ AIDS. <\/span><\/p>\n<h2><span style=\"font-weight: 400;\">When and how can I renew my policy? <\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The renewal date of your insurance policy is based on the date your policy took effect. Usually, an international medical policy is signed for the period of one year. In most cases, your insurer or broker will send you an e-mail or notify you in another way about your policy\u2019s upcoming end date. You can also opt-in for the auto-renewal option, and when the time comes, you will be sent a confirmation letter outlining the continuing coverage.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Can I make a change before renewing my health insurance?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Yes! Now\u2019s the right moment to make changes<\/span> <span style=\"font-weight: 400;\">and to contact your insurance advisor to help you with this. Pacific Prime Singapore sends renewal notification at least one month before a plan\u2019s renewal date to give you enough time to review your options.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">A few things to consider during the pre-renewal period: <\/span><\/h2>\n<h3><span style=\"font-weight: 400;\">Policy scope <\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Take time to look back on the past year and seriously consider if renewing your health insurance is the right option. Some of the premium benefits you pay for may be found not useful at all. For example, you may have never filed a claim for a particular benefit, or the number of claims under a particular benefit may have been way lower than the annual limit, so you may want to cut benefits from your plan. You may also notice that certain doctors and clinics are not in your network, and you may want to add them up to your plan. <\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Changes in circumstances <\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Let\u2019s hope not, but if you have developed a chronic disease, it\u2019s safer to stick to your current plan, as changing an insurer with a pre-existing condition may turn out to be costly. There are other considerations, too, of course. Have you started a new sport that may cause injuries? Are you traveling more this year? <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another thing to consider is adding or removing a maternity package, and to remember that for maternity coverage, a waiting period of 12 months or more usually applies. \u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Overall satisfaction from the service <\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Your plan might sound amazing on paper, but in reality, handling claims takes a long time, and some related procedures can seem quite complicated to policyholders. It may possibly be time for a change after all, and in that case, you\u2019ll have to go through the process of finding a new insurer all over again. \u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Why did my insurance renewal price go up? <\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The insurance industry is as much connected to the global economy as any other business. Therefore, your premiums may change during at renewal time. In the last few years, <\/span><span style=\"font-weight: 400;\">Singapore\u2019s medical insurance inflation rate of 11.18% was considerably higher than the global rate of <\/span><span style=\"font-weight: 400;\">9.2%<\/span><span style=\"font-weight: 400;\">, as insurers had to raise rates to keep up with medical costs, as well as other factors.\u00a0<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you are interested in the topic and eager to discover the key inflation factors and figures, you can download our free <\/span><a href=\"https:\/\/www.pacificprime.com\/ipmi-2018\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">International Private Medical Insurance Inflation report here. <\/span><\/a><\/p>\n<h2><span style=\"font-weight: 400;\">How can Pacific Prime help in renewing your health insurance plan? <\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When buying and renewing an international medical insurance policy, it is important to plan long-term and protect yourself from unnecessary future expenses. Having a dedicated insurance advisor definitely comes in handy, especially if you choose Pacific Prime as your broker. Why? <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">We have over 18 years of experience in the international medical insurance industry and served over 100,000 clients worldwide.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">We have a dedicated renewal team that will help you negotiate the terms and benefits you want. <\/span><\/li>\n<li><span style=\"font-weight: 400;\">We advise you on what additional benefits you\u2019ll need depending on your future plans or changing medical requirements, and help to negotiate the best rates with your current or new insurance provider. <\/span><\/li>\n<li><span style=\"font-weight: 400;\">We do it all for you free of cost. <\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Feel free <\/span><a href=\"https:\/\/www.pacificprime.sg\/contact-us\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">to contact us<\/span><\/a><span style=\"font-weight: 400;\"> with any questions regarding your renewal, as well as for individual and group international medical plan quotations.<\/span><\/p>\n<style type=\"text\/css\"><!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--><\/style>\n<p><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:[null,0],&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\"><div class='code-block code-block-6' style='margin: 8px 0; clear: both;'>\n<p><a href=\"https:\/\/www.pacificprime.sg\/compare-quotes\/step-one\/?campSource=PPSG-Blog&utm_source=blog&utm_medium=cta_banner&utm_campaign=banner&utm_content=quote\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-781\" src=\"https:\/\/www.pacificprime.sg\/blog\/wp-content\/uploads\/2019\/06\/PPSG_Gen_02.jpg\" alt=\"Get an Insurance quote banner\" width=\"1138\" height=\"493\" \/><\/a><\/p><\/div>\n<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just like any type of insurance, medical insurance is usually signed for a fixed term of one year with the possibility of renewing your health insurance. This allows you to extend coverage for another year without having to re-qualify for coverage. Most insurers offer a lifetime renewal option, but some policies are signed on a &#8230;<\/p>\n","protected":false},"author":18,"featured_media":1133,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[770,768,38,924,925,39,926,923],"class_list":["post-1127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insurance","tag-ban_gen","tag-cta_gen","tag-health-insurance","tag-how-to-renew-health-insurance","tag-increased-premium","tag-medical-insurance","tag-renew-my-policy","tag-renewing-your-health-insurance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Everything you need to know about renewing your health insurance plan<\/title>\n<meta name=\"description\" content=\"Are you renewing your health insurance soon? This article covers the most important factors you need to consider when renewing your health insurance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pacificprime.sg\/blog\/renewing-your-health-insurance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Everything you need to know about renewing your health insurance plan\" \/>\n<meta property=\"og:description\" content=\"Are you renewing your health insurance soon? 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