Singapore legislation
Regulation 9
of Medi Shield Life Scheme (Private Medical Insurance Scheme) Regulations 2015
Regulation 9
Refund of premium
Subregulation 1
If a person’s insurance plan is terminated or cancelled, and the person ceases to be insured under that plan, within the free‑look period applicable to that plan, the insurer of that plan must refund —
in the case of an integrated shield plan, the amount of all the premiums paid for the additional private insurance coverage under that plan; or
in the case of a non-integrated shield plan, the amount of all the premiums paid for that plan.
Subregulation 2
If a person’s insurance plan is terminated and the insured person ceases to be insured under that plan —
after the free-look period applicable to that plan; or
within the free-look period applicable to that plan, and a claim was paid under that plan,the insurer of that plan must refund an amount not less than the amount specified in paragraph (1)(a) or (b), as the case may be, pro‑rated for the unexpired period of the person’s insurance plan at the time the insured person ceases to be insured under that plan.
Subregulation 3
If an insurer cancels a person’s insurance plan so that the person is taken never to have been insured under that plan, the insurer must refund —
the amount specified in paragraph (1)(a) or (b), as the case may be; or
if a claim has been made under a person’s insurance plan before the date the plan is cancelled, an amount not less than the amount specified in paragraph (1)(a) or (b), as the case may be, pro-rated for the insurance periods of that plan falling after the insurance period in which the last claim was made under that plan.
Subregulation 4
The proportion of any refund of any premium under paragraph (1) or (2), corresponding to the proportion of the premium paid by a withdrawal from a CPF member’s medisave account, is to be paid into that member’s medisave account.
Subregulation 5
Where the Board forwards any refund of the whole or part of the premium for the MediShield Life Component to the insurer, the Board may direct the insurer to pay the premium refunded —
to the person from whom, and in the mode of payment by which, the premium was received by the insurer; or
in any other manner as the Board may determine,and the insurer must pay the premium refunded as directed by the Board.
Subregulation 6
In this regulation —
Definition
“free-look period”, in relation to an insurance plan, means the period specified in the insurance plan, or such longer period as the Board may specify, within which if the insurance plan is terminated or cancelled, a person is entitled to obtain a refund of the amount specified in paragraph (1)(a) or (b), as the case may be;
Definition
“person’s insurance plan” means an integrated shield plan or a non-integrated shield plan under which the person is insured.