Health Insurance

"Dropping health cover completely should really be a last resort, because once coverage ceases, it is difficult to pick up later and get coverage for pre-existing conditions".

"Many people have had to make some difficult choices in the last year, although I would urge people to talk with their insurer (adviser) rather than simply dropping their health cover. In many cases there will be options for changing the plan they are on to something more affordable, possibly with a change in the level of excess or coverage".

The above two statements were from the Chief Executive of the Health Funds Association of NZ.

We can not deny that pressures on our discretionary dollar combined with the increases in the cost of general house and contents insurance following the Canterbury earthquake has resulted in many NZ'ers cancelling their health insurance - in the year to March 2012 the total number of lives insured was 1,351 million, a decrease for the full year of 25,700 people!

On the other hand whilst the number of lives covered has decreased as shown above the value of insurance claims is certainly not showing any signs of decreasing, as shown below. And the costs for specialists; medicines; surgery and rehabilitation is not going to get cheaper!

By 2008 NZ had the OECD's fifth highest public health spending as a proportion of GDP! We also now have a dangerously high reliance on public funding - just 19% of total health spending is privately funded in NZ, compared with an OECD average of 28% and Australia's 33%.

These factors have major implications for how NZ funds health care going forward - given our aging population pointing to rocketing health care costs over the next 20+ years.

What this means

People will have to pay a greater share of their own health care costs; either out of their own pocket or by way of personal health insurance... the modest increase currently proposed to prescription charges is nothing compared to what the future holds!

People have time to adjust and make arrangements now; such as taking personal responsibility for their health care at an early age.

ACC

Last year, ACC received 56,000 applications for funding for elective surgery; while they approved most; the level of declines resulted in some 2,300 complaints for review of ACC's decision! And these are only for "accident" not illness.

Advice

You should always get advice when considering taking out health insurance. Each persons situation and health is different to the next - so personalised advice is key to ensuring people have the best possible health insurance.

Most important is being aware of all the options available - the industry is not clear cut; the health sector is dynamic and products and poolicy wordings continue to evolve which is why we recommend everyone should talk to an insurance adviser who has expertise in this area.

Options to reduce the cost of health insurance:

* Higher Excess * Limited Cover * Specialists & Tests *

* Family Cover * * Best DoctorsTM * New product *

Health insurance takes away the uncertainty of your future health care!

As we've said at the very start; cancelling your insurance should be absolutely a last resort - get advice; have a coffee and chat with an adviser today - make the choice to be in control of your health care.

Email a question  |  Freephone 0800 823 823

May marks a month-long fundraiser for the Breast Cancer Aotearoa Coalition (BCAC). Supported by Arnott’s, the fundraiser asks you to ‘Show Your Heart’ by buying Tim Tam during the month from Countdown, Super Value or Fresh Choice supermarkets to help BCAC support thousands of women and their families as they tackle breast cancer.

Every year 2750 women (& 20 men) are diagnosed with breast cancer ... and thousands of husbands, boyfriends, fathers, sons, daughters, mothers, aunts, partners, grandmothers, friends, cousins and sisters are affected by someone special to them tackling the disease.

More than 650 women die from the disease this year - making it the leading cause of cancer-related death in females.

1 in 9 women will be diagnosed with breast cancer at some time in their lives.

90-95% of women who are diagnosed with breast cancer have no family history of the disease.

Whilst financial assistance doesn't cure the illness, it does mean that women and their families can focus on treatment and recovery without having any financial pressure.

Trauma Cover and Medical Cover provide financial assistance for women and their families dealing with breast cancer at a time when income may be reduced or non-existent and extra funds may be required for medical treatment.

Trauma Cover pays a lump sum in the event of a major medical trauma. Some Trauma policies include special cover for low-grade gender specific cancers.

Medical Cover provides for reimbursement of significant medical expenses.  

Did you know?
Although Herceptin (The drug used to treat HER-2+ breast cancer patients) is now government funded for the first 12 months of treatment there are thousands of safe and effective medicines and treatments which are not funded by PHARMAC. Some Medical Covers include cover for non-PHARMAC Medsafe approved treatments and medications.

For a free no obligation review of your medical insurance contact the team at Insurance People today.

freephone 0800 823 823


Disclosure Statement available on request and free of charge.
Statistics from Ministry of Health.

What's more precious...

Insurance People would like to share "Choose Precious" from Sovereign.

The key purpose for any Insurance Adviser is to give the best possible advice to a family and to ensure that they are fully protected no matter what life may throw at them...

"Choose Precious" is just one offer available through Insurance People dedicated to you and your family.

• Are you planning to start a family?
• Is your family expanding?
• Do you have health insurance that covers your children?
• Is the family income earner protected for injury & illness?

If you want to know more about protecting your family now and for the future freephone 0800 823 823 today or click here to email a question.


Disclosure Statement available on request, free of charge.

OCR remains held at 2.5%

The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 2.5%, in a short statement Dr Bollard confirmed "For now it is appropriate for the OCR to remain at 2.5%".

"The domestic economy is showing signs of recovery...
"Housing market activity continues to increase...
"A recovery in building activity appears to be underway - as forecast...
"That recovery will strengthen as repairs and reconstruction in Canterbury pick up later in the year."

The main concern for the Reserve Bank appears to be offshore "the global outlook remains of concern. Near-term indicators have moderated and financial market sentiment is still fragile."

"The New Zealand dollar has stayed elevated despite recent falls in commodity prices. Should the exchange rate remain strong without anything else changing, the Bank would need to reassess the outlook for monetary policy settings."

But what we don't know is what that reassessment may involve - as previously indicated a longer period of no change to the OCR; or whether they would see a cut to the rate.

The next Monetary Policy and OCR rate annoucement is 14th June.

If you are interested in reading past announements and statements from the Reserve Bank click here

***

If you want to speak with a mortgage adviser about your home loan then click here to meet the Mortgage People team or freephone 0800 823 823

Or if it is time you discussed Mortgage Repayment Insurance or your current House Insurance then click here to meet the Insurance People team or freephone 0800 823 823

Travel Insurance

NEWS FLASH

Insurance People now offer travel insurance through 1Cover.

You can now save money on your travel insurance with 1Cover New Zealand

"1Cover specialises in providing travel insurance to New Zealanders at very low prices. With three levels of cover, from Budget to Comprehensive, there is great value travel insurance to suit every budget.

For travellers who have regular stints away from home, compare the cost of the Annual Multi Trip policy against insuring individually each time. If you're travelling at least twice a year, undoubtedly the Annual Multi Trip options will save you both dollars and time. 

Worldwide Annual Multi Trip $339
Worldwide Excl USA/Canada $279
Domestic NZ $199
*Correct at date of blog.

Going on holiday as a family can be costly but with 1Cover, you don't have to worry about insuring your children as kids travel free, up to age 21.

If you are over 40 with pre-existing medical conditions, you are covered giving you automatic peace of mind for these conditions as you book your insurance policy.

For senior travellers over 70, it can often be difficult to find an insurer who will cover you but 1Cover takes care of all ages, in fact 1Cover has a wide range of policies for you to choose from.

1Cover's cheap travel insurance policies work with your flexibility in mind - you can choose the level of cover to suit your needs or even opt for no excess for a small premium.

With savings of up to 50% compared to your local travel agent, at 1Cover, they've really got you covered."

Dont' take the risk - click here to get a quote now or contact Insurance People on freephone 0800 823 823.

New Give Way Rules

Next Sunday, the 25th of March 2012 is when the new Give Way rules in New Zealand take effect.

Are you prepared? Are you insured?

Whether you've been driving from way back when you could get your Licence at 15 and off you went, or if you've just got your Restricted or Full Licence these changes require you to take a moment and think before you move forward from an intersection!

We all need to retrain our brains on the "give way to your right" rule that has been programmed into us all!

If you haven't already, check out the NZTA's website here, there are simple illustrations that actually make it seem quite clear... although it will be a different story when you are in your car and on "auto pilot", doing your usual drive to drop the kids at school, get to work, the supermarket or the gym.

So, where does this leave you with your car insurance? If you are "at fault" then its your excess thats going to be hit and possibly your no claims bonus!

When was the last time you checked your car insurance?

If you want a free review of your car insurance policy get in touch today... now is a good time to check your covers and check the market for the best possible car insurance.

CONTACT ME for a free car insurance review

Insurance People freephone 0800 823 823

NOTICE: House, Contents & Car Insurance

Premium Increase

Recently most of New Zealand will have been notified from their insurance broker or insurance company of increases to your premiums; largely this was due to the increase in EQC Levies. The EQC Levy was increased as of February 1st, to a maximum annual levy charge of $172.50 per house insurance policy and $34.50 per contents policy. This is one of those compulsory costs if you have insurance on your home, your personal contents or car - there has been a huge amount of commentary in the news, and most of last year was full of warnings to expect your insurance premiums to go up!

Did you know...

Many insurers also took this opportunity to raise their premiums in addition to the EQC levy increase. The increases vary between all the insurance companies, and here at Insurance People we're pleased to say that our preferred suppliers for fire and general insurance fall within the lower percentage of increase when compared to the wider market of insurance companies.

Do you think your premiums have gone up too much? If you'd like to get a comparison and a QUOTE please click here >

Contact Us with your Query or Concern

If you have your House, Contents and Car insurance with Insurance People and have a question or concern about your cover or premium please do not hesitate to contact us - we're here to help anytime you need us! We'd rather you talk to us now so there are absolutely no issues come claim time.

If you've been referred to this blog or perhaps just stumbled up on it on google and you want to know more, please contact Yvonne Wallace - she is an expert when it comes to general insurance!


We offer a full service

Like some big companies as a client you can get lost... you won't get lost here! We don't just put your insurance in place then forget about you; we look after you throughout life's changes and most importantly, at claim time!

To find out more freephone 0800 823 823 & ask for Yvonne...

House, Contents, Car & Boat Insurance

Disclosure Statement available free of charge on request!