I’ve recently been singing the praises of a brilliant new “kids only” health insurance policy. Unlike most health insurance, KidSmart provides private health cover, without the child being attached to an adult’s policy. What a gift to give a new grandchild or loved dependent and the gift of peace of mind for mum and dad too!
There is FREE cover and no underwriting for babies up to six months’ old, and children are able to be insured without the same extensive medical questions and examinations asked of us grown ups! What’s more you can cover all your children but pay for no more than two. General surgery is covered up to $500,000 for as little as $29 a month.
The policy is provided by not-for-profit Accuro who have just taken the top spot in Consumer Magazine’s Health Insurance Report. 73% of their customers were very satisfied with the service, and that is up from 66% a year ago.
You can have the reassurance that your child can avoid long public wait times for treatment by going private and be covered for many unexpected and costly procedures.
And it’s a fantastic long term strategy. When those children graduate to their own policies (which let me say if children are signed on this policy before the age of 16, they can stay on it until they are 25), they do so without new underwriting. Compare that to an adult who has never had health cover as a child. During their life they will have experienced varying levels of illness and injury and will likely be set back, with medical insurers giving them cover with a number of “exclusions".
Hurt your knee playing hockey at 15, and the chances are a medical insurer will exclude any claims for knee surgery from your policy. Common ailments such as ear, nose or throat infections may incur more exclusions. If it’s in your medical history, insurers have the right to deny that cover. There are times those exclusions may be challenged and removed (for instance if years pass), but it’s better to skip the queue, get the full cover early and have the assurance good insurance brings.
And children do get sick.
As reported by Stuff, in 2013, Southern Cross paid out 230,000 claims for people aged 20 or under. The top procedures were tonsillectomy and removal of teeth. The most expensive was a spinal fusion at $38,000.
The cherry on the top of the KidSmart policy is the exercise based contribution of $150 for school, club, swimming or dance lessons.
The highlights in summary:
- General surgery cover of up to $500,000
- Free cover and no underwriting for babies up to six months’ old
- Cover for all your children but pay for no more than two
- Children who sign up before 16 are covered until they are 25
- Exercise based activity contribution of $150 for school, club, swimming or dance lessons
- Parents, Grandparents or guardians can gift to their children, grandchildren or dependents