Pacific Prime sees Rapid Increase in Bupa's Child Insurance Premiums in China

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Pacific Prime reports on Bupa's latest premium adjustments and the impact they have had on child coverage for plans in China.

Pacific Prime

Pacific Prime

Bupa is undoubtedly still highly dedicated to the Chinese market.

Bupa’s April 1st, 2013 premium adjustments spelled positive news for the majority of the insurers plans and clients worldwide. Pacific Prime clients attached to Bupa’s Premier Worldwide Health Options (PWHO) plan in China may have reason to be concerned, however, as the premium designs for young children have been adjusted significantly.

Premium increases have varied across all plan modules and deductibles available on the PWHO plan. A uniform increase of 32% occurred across all deductibles on the ‘WMI’ inpatient module, whereas the ‘WMP’ outpatient module increased by 37% for children on a nil excess and 50% for those with higher deductibles. In addition, all medicine, dental/wellbeing modules have uniformly increased by 25%.

While such increases may be disappointing for Pacific Prime clients, Bupa is demonstrating that offering the best coverage possible to clients is more of a priority over the relative costs. The WMP plan continues to offer exceptional coverage specifically designed for children in the 0-6 age bracket, including vaccination cover and general young child check ups. While increases are significant for these ages, once children reach 7 years old, their premium will once again drop to a lower amount for their new age bracket.

Many insurers would rather reduce specific benefits that are not as popular in the market but Bupa typically prefers to maintain extensive comprehensive cover, albeit at higher prices.

Despite their experience in the worldwide market, Bupa is still relatively new to the China segment and so unforeseen adjustments such as this can be expected. Child alone coverage is particularly delicate in China and many insurers are still trying to find the best way to deal with this issue in the region.

Interglobal, for example, offer child alone cover on all levels of their plans outside of China but will only offer coverage on lower level plans within the country, whereas Now Health offer child alone coverage for plans processed in China but not in other countries.

Child alone coverage is still a relatively new product so this will always be a difficult task to educate a market such as China with. Pacific Prime clients may be disappointed to hear this recent news, but Bupa is undoubtedly still highly dedicated to the Chinese market and by making such adjustments; they are ensuring accuracy and stability for premium rates in the future.

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Sergio Ulloa
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