QBE has finally launched its small group insurance for SME companies from 1 to 14 staff! From the looks of it, this plan seems to be able to "overthrow" many of their competitors in this heavily competitive employee benefits industry. In a nutshell, here are some of the product features:
- Essential Plan (that is what it is called), is positioned as a low cost group medical plan
- 6 Room & Board options to chose
- No health declaration form required (trust me, this is a BIG plus in this day & age of compliance and forms filling!)
- Pre-existing health condition is permanently excluded (terms & conditions apply)
- Various riders to chose from : KCT (Kidney & Cancer Treatment), Outpatient Panel Clinic, Outpatient Specialist, Dental, Deductible options.
- Premium is based on average age and group size
- Panel TCM consultations is part of its outpatient plan
- Minimum premium is $200 per policy excluding GST
- Dental benefits has more coverage and higher limits than other insurers
- Insurance coverage till 72 (ANB) ~ Most small group plans are up to 66 (ANB)
- MRI/CT Scan/PET Scans are included in Specialist treatments ( Many insurers exclude this)
- Deductibles can be applied to reduce premiums
