Elaborating on the scheme, Senior Minister of State for Health Chee Hong Tat said: "Any pre-existing conditions that are covered prior to the switch will not be excluded."
This should also apply to people currently with full riders who want to switch to the new scheme to save money. Said Mr Chee: "We expect the new riders to have lower premiums than full riders, so the switch will result in premium savings for policyholders."
As for those who already have riders, Mr Chee said: "We recognise that existing rider policies are commercial contracts between insurers and their policy holders.
"If insurers intend to make changes to their existing policies, they should consider the interest and well-being of all policy holders , as they seek to keep premiums affordable for everyone in the longer term."
