Health Insurance Premiums Halved for Kiwi Discount Club

Health Insurance Premiums Slashed By 50% for Kiwi Discount Club Members

Members of Kiwi Discount Club can now save over 50% on their health insurance premiums in the first year and 30% on their premiums for the life of the contract.

Kiwi Discount Club director Des Morgan said they are able to offer their members this savings through a combination of a cash rebate of commission received from the Insurance broker firm placing the business on behalf of our members and a nominated voluntary excess of a $1,000 on the policy with the insurer.

“An excess is the amount of money you’ll need to contribute towards the total cost of any claim you make for each diagnostic investigation or treatment. If your policy excess is $1,000 and you have a health claim costing $12,000, the insurer will pay $11,000 and you’ll need to contribute $1,000. Having a higher excess still protects you against the bigger treatment costs, allowing you to self insure to a degree that you are able to handle” Morgan said.

Morgan said Kiwi Discount Club members who purchase their health insurance online through discountedmedicalinsurance.co.nz will receive a 30% cash rebate on their first years premiums and this put into a savings account will go a long way to paying the $1,000 excess in the event of a claim.

“In addition in the event of an insurance claim the Kiwi Discount Club will pay the member the difference between the $1,000 excess if under age 55 and the cash rebate of the first years premium already paid in effect giving its members the benefits of a no excess policy.

"For our members joining over age 55 the voluntary excess will be $2,000 and the same top up will apply,” he said.

Morgan provided an illustration of the approximate yearly premium for couples based on their current age. Premiums vary between insurer and it pays to go online and get at least 3 quotes he said.

HOSPITAL COVER WITH Specialists & Diagnostics

Note: In the event of a claim Kiwi Discount Club pays the member the difference between the $1,000 voluntary excess with the insurance company and the cash rebate already paid

Note: In the event of a claim Kiwi Discount Club pays the member the difference between the $2,000 voluntary excess with the insurance company and the cash rebate already paid.

Morgan said by making health insurance premiums more affordable he hopes this will stop the decline in consumers purchasing health cover for their families.

ENDS

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