Know Risk is a community education program designed by the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) to improve our understanding of insurance and how it relates to managing the many risks we all face in life.
What to ask your health insurer when looking at a policy
There's no such thing as a stupid question.
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Getting health insurance can be a complicated thing. With so many funds and different levels of cover to choose from, it can be a bit tricky to work out what you really need and how much benefit you actually get from it. Here are a few questions you can ask a health insurer when you’re looking at getting a policy.
- Which hospitals have agreements with this fund?
- Do I still have a bill to pay even on top of the hospital cover?
- What is excluded or reduced under partial hospital cover?
- Is the excess payable once a year or for each hospital visit?
- How do the annual benefit limits compare across funds?
- What are your waiting periods?
- What is the definition of a dependent child?
- Can I lower the premium by excluding certain treatments?
- Are alternative therapies included in ancillary cover?
- Can I claim for 'wellbeing' costs such as gym membership?