How to deal with medical insurance repricing?
|
|
 Jan 11 2024, 08:37 AM
Return to original view | Post
#1
|
 
Senior Member
3,833 posts Joined: Oct 2011 
|
When 100% of the insurance companies failed 100% of their projection for decades, it's safe to say that they deliberately overestimating their potential investment return and underestimating future costs to trick the consumers to sign up for their ILP. ASoulNamedLeo, Gaza, and 2 others liked this post
|
|
|
Jan 11 2024, 09:06 AM
Return to original view | Post
#2
|
|
Senior Member
3,833 posts Joined: Oct 2011
|
QUOTE(MUM @ Jan 11 2024, 08:48 AM) I would say, they do it intentionally to slowly increase the premiums and to avoid a sudden big increases that would made customers angry and raises BNM queries. That's the scammy part. They can do a better and more accurate projection at the beginning so that the customers can anticipate and make better planning for it. But they won't, because if they show the real numbers, the people who willing sign up for their ILP (most profitable product) will reduce significantly.As they are "allowed" to make periodic increases to suits the "said" medical inflation  |
|
|
Jan 11 2024, 09:25 AM
Return to original view | Post
#3
|
|
Senior Member
3,833 posts Joined: Oct 2011
|
QUOTE(MUM @ Jan 11 2024, 09:13 AM) I think few years ago BNM had already had them made a more stringent projections by narrowing down their projected numbers?? BNM only request them to give projections and follow up, which they did.But accuracy of the projections? You know I know. |
| Change to: |  0.0131sec
 0.72
 7 queries
 GZIP Disabled
Time is now: 12th December 2025 - 09:16 AM |
Quote