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Thursday, 11 June 2009
PA for DiGi's customers
We first reported this story on 12/9/2008 when the PA was offered free.Now DiGi's customer base has grown from 5 mil to 7.2 mil. The PA is also purchasable for either RM50,000 or RM100,000 sum assured. The premium is RM2 and RM6 respectively for a 30-day coverage.
It is interesting to note that you have to pay 3 times as high a premium for only twice the SA. Wonder whether a lot of people will go for the higher plan except perhaps with the reason to anti-select against the insurer?
Source: Business Times
Labels: AIA/AIG
About Me
- Name: Teh Loo Hai
- Location: Kuala Lumpur, Malaysia
Loo Hai is an actuarial recruiter cum actuarial consultant. He has over 20 years of work experience gained in Malaysia and Australia in the actuarial, insurance, takaful and pension fields.
Previous Posts
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- ValuePac
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2 Comments:
Hi Mr.Teh.. what do you means by 'anti-select against the insurer'?
Anti-selection happens when policyholder knows that he is highly likely to make the claim and therefore does not mind the higher premium. For example, someone in an occupation subject to higher accident risk may find RM100,000 sum assured worth it even though the premium is at RM6, RM2 more than the theoretical premium of RM4 (if one can take 2 policies of RM50,000 sum assured each, one needs to pay only RM4).
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