#3 The ins & outs of Life Insurance

Insurance 101-What is health insurance?

Health/Medical cover 

This is a reimbursement of ‘approved’ medical expenses if you require medical treatment or advice. Again, there are many options usually available for you to choose from, depending on what’s important to you. Some insurance companies offer give premium discounts if you take more than one type of cover with them, so check this out.

Should I consider health insurance?

New Zealand has a very good health system but it is not able to cater for everyone at the time when treatment is needed.

There are many reasons why singles, couples and families take out private health insurance. Typically, they are seeking peace of mind – the security of knowing they can get immediate access to the right level of care and treatment that they require while being financially protected.

As a patient with Hospital Cover, you’ll be covered for some or all medical treatments (theatre fees, accommodation, intensive care services) when you need to be hospitalised using a private hospital.

The focus should be on quality hospital cover, rather than the ‘extras’ like obstetrics, fertility treatment, prosthetics, hearing aids, GP and prescription costs, etc. Your level of hospital cover will determine the types of service you are covered for.

And by adding extra cover will help with the costs of health services, such as, dental treatment, chiropractic treatment, home nursing, podiatry, physiotherapy, occupational, speech and eye therapy, glasses and contact lenses, prosthesis and other ancillary services.