Does your private health insurance still meet your needs?
If it’s been years since you’ve bought your private health insurance plan and you have to rummage through your drawers to find the plan, then chances are that your plan no longer meets your needs. You see, a private health insurance plan isn’t like a Netflix or Spotify subscription that you can set on auto payment and enjoy the same service as long as you like. On the contrary, a private health insurance plan is dependent on your life circumstances – something that’s ever-evolving. But don’t be disappointed just yet. In this Pacific Prime China article, we give you some things to ponder over so that you know for certain if/how your private health insurance plan still meets your needs and what can be done to remedy this.
How long has it been since you bought your plan?
Even if all else stayed the same, one thing will not: your age. While there are things we can do to keep ourselves fit and healthy, the sad reality is that our healthcare needs are likely to increase as we get older. At the age of 20, you probably didn’t have to worry about worsening eyesight or body aches and pains. As our 40s, 50s, and 60s come along, then it’s a completely different story. You may also want to consider getting coverage for things like chemotherapy, joint replacement, heart and vascular system, etc. So when did you buy your plan? And how long has it been since this? The longer it has, the more you need a review and adjustment of your plan.
Has your lifestyle stayed exactly the same?
As time goes by, chances are your lifestyle has changed as well. Maybe you developed a penchant for adventure sports or became a gym buff? Being active is indeed a great way to remain healthy, but it also increases your likelihood of sport injuries and need for physiotherapy in the future. Do you know that not all private health insurance plans cover sport injuries? Or maybe you started traveling abroad more frequently and now require comprehensive, worldwide coverage? There are a number of different things that could have changed, and you need to consider what (if any) implications these will have on your private health insurance plan as well.
What about your family situation?
Whether you’re planning to start a family or have growing children, you’ll also need to ensure that your private health insurance plan reflects each stage of your family life. For those planning to start a family, consider whether you want maternity coverage as a “rider” or optional extra added to your private health insurance plan. If so, it’s recommended to do so as soon as possible due to the 10 to 12 month “waiting period”. Put simply, this is the amount of time you need to wait before you can start using your plan. As your kids grow up and move through schools, their health requirements may also change and they may require major dental and orthodontics, speech and occupational therapy, psychology services, etc.
Are you regularly hitting your annual limit?
Another sign that your private health insurance plan may not be meeting your needs is if you’re regularly hitting your “annual limits”. In other words, this is the total amount you can claim in benefits in a policy year. For example, you may be making the maximum claim for optical, psychology, or another aspect of your private health insurance plan well before the end of the policy year. Any amount spent after this may not be covered by the insurer. In this situation, you should consider upgrading to a plan that offers a higher annual limit. Even though you may need to pay a higher premium for this, you may end up with a better deal overall.
Get a free insurance review from Pacific Prime China today!
As we’ve established, it’s vital to review your private health insurance plan regularly. It also pays to understand insurance jargon when doing so. This will make it easier for you to scan your policy and immediately know where the gaps in coverage are. But, of course, insurance isn’t everyone’s cup of tea. If you’d like to save time and hassle, you’re more than welcome to reach out to Pacific Prime China. We have insurance experts on hand who can guide you through your insurance journey. We are 100% impartial and provide a number of FREE, value-added services. Not insured yet? No problem. We can help you find and compare individual health insurance, family health insurance, or any other type of health insurance plan in China.
Contact us today to get started!
Disclaimer: Pacific Prime China solely represents, operates and manages locally regulated insurance products and services in the territory of PR China. Any references to Pacific Prime Global Company or Group, the international services, insurance products or otherwise stated written or verbally, is for introduction purposes about our overseas network only as each entity is fully independent.
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