Health insurance is complicated enough even for somebody working in the industry and buying through a good advisory company costs exactly the same as buying direct plus there’s a host of advantages;
- They’ll save you money.
A good advisor will have access to insurers and policies that you’ll struggle to find yourself and they may well have plans and “special” offers that aren’t available to the public. On top of finding the right medical insurance for you they’ll shape the benefits so that you only pay for benefits that you’ll be able to use.
- They’ll save you time.
Why do all the leg work yourself when it costs the same for somebody else do it for you? Most health insurance brokers don’t charge fees as they get their remuneration from commission payments from the insurers.
They’ll do the research quicker and better too.
- They won’t “sell” you.
If you use independent private medical insurance brokers they should have agencies with all the insurers and they’ll recommend the best policy based on your needs. If you’re dealing directly with the insurer’s sales people then they’ll just sell you what they’ve got and extoll their company’s virtues.
Do check though that the people you’re talking to are truly independent as some “brokers” only have relationships with a hand full of insurers.
- They’ll give you advice.
A well-trained advisor working for a good health insurance broker will give you sound advice. If you are enquiring directly to an insurer the person dealing with you may not be authorised and regulated to give you advice and they’ll just give you information.
- They’ll make something complicated simple.
A good advisor should be able to explain the finer details in a “common sense” way that should help you understand exactly what the policy does and does not cover.
- They’ll help you choose the best underwriting.
It’s not uncommon for the unwary to have moved insurer thinking they’ve made a big saving only to find out at the point of claim that they’d given up cover for pre-existing medical conditions when they took out the new policy.
Sound advice will help you select the correct option for your particular health.
- They’ll review your policy at renewal.
At the annual renewal of your policy your advisors should look at your policy with a fresh pair of eyes to confirm that it still meets your needs. There’s often special offers in the market and a private medical insurance broker should assist you to take advantage of any discounts rather than allowing you to languish with the same insurer year after year.
- They’ll check that the insurer is not making mistakes on your policy.
Insurers are not unique in making errors but a well-run health insurance brokerage will check through the details of your policy to minimise the chance of errors. If there is a mistake on your plan they’ll deal with it for you.
- They’ll support you when claiming.
If you’re lucky then you’ll have your health insurance in place for many years and you’ll be in wonderful health and you’ll never need to claim. Even though most claims are handled well if you do run into a problem you may need some help.
When you’re claiming the insurer will always know their terms and conditions better than you do but good advisors may know them even better than the insurer’s staff and they can make sure that legitimate claims are processed properly.
