Life stages in health insurance policies are all about finding the most suitable cover of value to you. So whether you’re young and single, or mature aged and married with kids – there are health insurance options for each stages of life.
As our needs and priorities change throughout our lives, why shouldn’t our health insurance? Our team of experts frequently speak to everyday Aussies who are under or over insured, and help them find the right cover for their circumstances.
What are the life stages in health insurance?
There are some key life stages most Aussies can be categorised into, and their individual needs vary considerably. The main life stages in health insurance are:
What is the difference between each life stage?
The difference between life stages depend on the level of cover you choose to take out. Some health insurance life stage choices that may be relevant to you:
If you are close to the age of 31 and don’t take out health insurance by 31 you may have to pay an extra loading if you require cover later on in life.
If you are planning on starting a family, you may want to consider adding obstetrics cover well before you fall pregnant. There’s a 12 month waiting period you’ll need to sit before you can be covered for obstetrics related services.
Young Aussies receive a government rebate on health insurance premiums, if you earn under $140,000 as a single or $280,000 as a family you are eligible for between 8.644%-34.579% depending on your age and income tier.
If your children’s eyesight is of concern, you may want to look into taking out an extras policy that covers them for optical.
If you’re over the age of 31 who requires medical treatment such as major dental, you may want to consider an appropriate level of cover that can contribute to the cost, reducing any out-of-pocket expenses.
Ultimately, everyone’s situation is different, but being able to choose the right level of private health cover that fits within your lifestyle (and budget) is important. That’s why you should always review your health policy according to your life stage, so that you can maximise value for services and treatment you (or your family) need.
Why you should compare policies with us
Compare the Market understands every Australian has different goals and circumstances, so matching the right level of private health cover is an important decision to make, regardless of your situation. For that reason, we give you a hand finding a policy that caters to your needs.
If you are confident you know which life stage you’ve reached, use our free health insurance comparison tool to explore a range of great value policies suitable to you. In just minutes you’ll be able to select a range of options that matter to you the most so you can compare the results, or alternatively, give one of our experts a call on 13 32 32. Simples.