If you are looking for some comprehensive value-for-money medical insurance, Sompo Now Health Singapore is one of the leading providers of health insurance in the country. The company offers a wide range of health insurance plans to individuals, families, and businesses, including hospitalisation, outpatient, dental and maternity coverage for locals and expats.
One of the key features of Sompo Now Health Singapore’s health insurance plans is the flexibility they offer. Policyholders can choose from a variety of plan options, including basic and comprehensive coverage, and can also customize their coverage by adding on additional riders or benefits.
Sompo Now Health Singapore is a subsidiary of Sompo Holdings, one of the largest insurance companies in Japan, thus providing a strong financial backing to the company.
Sompo Now Health has several competitive advantages, namely:
- Flexibility: Sompo Now Health in Singapore offers a wide range of plan options and allows policyholders to customize their coverage with additional riders or benefits, providing more options for customers.
- Wide network of hospitals and medical providers: The company has a large network of medical facilities across Singapore, including public and private hospitals, providing policyholders with more options for receiving care.
- Digital services: Sompo Now Health’s online policy management and claims submission system makes it easy for policyholders to manage their coverage and access the care they need.
- Strong financial backing: As a subsidiary of Sompo Holdings, one of the largest insurance companies in Japan, Sompo Now Health in Singapore has a strong financial backing, giving policyholders peace of mind.
- Extensive Coverage options: The company offers a wide range of health insurance plans to individuals, families, and businesses, including hospitalisation, outpatient, dental and maternity coverage, providing a wide range of options for customers
- Cashless treatment: Sompo Now Health has tie-ups with a large number of hospitals, so policyholders can avail cashless treatment at these hospitals, making the claims process more convenient.
- No Claim Bonus: Policyholders can also enjoy the benefit of No Claim Bonus, where they can get a discount on their premium if they don’t make any claims in a policy year, which can be a saving for customers.
- International coverage: Some plans offered by Sompo Now Health also offer international coverage, which can be beneficial for people who travel frequently, providing more options for customers.
- Maternity coverage: The policy also offer coverage for pregnancy and childbirth, providing peace of mind to expecting parents, which is not common among all insurance companies.
Like any health insurance provider, the Sompo Now Health does have some disadvantages for policyholders, such as:
- High costs: Some of the coverage options offered by Sompo Now Health may be more expensive than other health insurance providers.
- Limited coverage for pre-existing conditions: Some plans may not cover pre-existing conditions or have a waiting period for them, which could be a disadvantage for some policyholders.
- Limited coverage for alternative treatments: Sompo Now Health’s plans may not cover alternative treatments like acupuncture, chiropractic, and homeopathy.
- Limited coverage for mental health: Some plans may not cover mental health as extensively as physical health.
- It’s important to note that these disadvantages may vary depending on the specific plan or coverage option chosen by the policyholder. It’s always advisable to go through the plan details and coverage options before purchasing a policy.
In summary, we feel that though this plan is not for everyone, they do carry pretty decent limits and is extremely suitable for top management executives, including expats. Their plans are also great for mix and matches with existing group policies.
Feel free to contact us for a quotation & further discussion.