Wednesday, 14 June 2017
AdviceFirst Financial Adviser James Polson says people are concerned about the cost of their premiums but also worried about not having cover.
It’s true that the cost of health insurance increases as you get older. But you may not need to cancel, tap into retirement savings, rely on family or even sell assets in the event of ill health.
Instead, it could be about taking a close look at the policy and making changes to excess levels and other areas to help monitor the premiums, and preserve insurance that covers bigger health events that cost more.
James says: “We check the affordability of your policy and try to fine tune it to help lower your premiums, while still covering the more costly treatments”.
Health insurance can be seen as pre-paying for future health expenses, says James.
“You may be paying a couple of thousand each year in premiums, but it can be a small amount when it comes to covering treatment at claim time,” he says.
Health insurance is also important for people with an asset / wealth protection plan. If a health event happens where you’re unable to work and can’t pay into your retirement fund, health insurance can help you get private medical care.
James sums it up with this analogy: “If the price of petrol goes up, you don’t sell your car. Instead, you find ways to be more fuel-efficient”.
Get advice about your health insurance from the experienced team at AdviceFirst. Call now on 0800 438 238 or click here to send an email.
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