Category: Insurance

family health

What You Need to Know about Members Own Insurance FundsWhat You Need to Know about Members Own Insurance Funds

Most people looking for a health insurance provider have many things in mind. Nevertheless, there are others that are more interested in what a given fund can do or what they do with the premiums paid by their members. For a long time, members own, or not-for-profit health funds were not very popular. However, with most people realizing their benefits, their popularity has been increasing considerably in recent years.healthy pulse rate

What is Members Own Health Fund?

By now you might be having an idea of what all members own health funds are all about. Ideally, these are institutions brought together and run based on a shared belief – to cover the health of their members. Whenever you come across a members own logo, you can be sure that the fund values the welfare of their members over making profits. These funds can be open to the public or a specific group of individuals.

Difference Between For-Profit and Members Own Funds

The main difference between members own insurance funds, and for-profit health funds are easy to understand. The former is in business to make a profit from the premiums paid by the members, while the latter does not. As such, this is often manifested in the way they offer their services.

Concerning the amounts of premiums paid, for-profits fund set their dividends in a way that they will be able to post profits at the end of their financial year. On the contrary, premiums paid to members own health funds are solely designed to cover the operational costs of the fund, and in case there is surplus revenue, these finds are re-invested into the fund to improve the quality of services offered to its members.

Key Objectives of Members Own Funds

  • Return more to the members – Over the years, members own health funds collectively given a higher percentage of premiums paid to them back to their members. Thus, unlike the for-profit group, you are likely to get more benefits when you are insured with a members own fund.
  • Quality customer service – Members own funds are designed to offer optimal customer service. This means that you expect to hear lower complain rates with members own funds. As a result, you are more likely to be satisfied here.heart health

If you are looking for a health fund that is dedicated to benefiting you, a member own health fund could be what you have always needed. You only need to do your homework to ensure you get a fund you find appropriate based on your health needs.…

insurance for family

What to Look for in Health Insurance in AustraliaWhat to Look for in Health Insurance in Australia

Having health insurance when living in a country especially like Australia, is a must, many things can go wrong, and it is better to prevent than cure. However, there are a lot of programs that you will find both online and offline, so it can be confusing for anyone to choose which one is going to suits your lifestyle and budget the most. To help you with that, here are three things that you need to look for when considering taking health insurance.

Company’s Purpose

Whether it is a small, big, multinational, or local health insurance program, each company or group that has it must have a purpose and a vision. Look at the reason why they exist and what is it that they want to achieve in the future. Their vision and mission can speak a lot about what you can expect from them and will also let you help to form an opinion towards all the choices that you have. Choosing the best private health insurance is going to help you survive and go through any medical challenges that you may face later on in life. A pro tip is to choose a non-profit group that offers excellent health insurance, this way you will feel better about where your money is going.

Level of Coverage

woman in front of laptopThere are many hospitals all across Australia, and emergencies will not wait until you are near to the hospital with your insurance will cover. Often, people get into a particular misfortune, and it got worse when their insurance company cannot pay for the expenses. For this reason, it is essential for you to choose a health insurance program that includes as many types of a hospital when possible. You should also check on the kinds of treatment and doctors that your insurance will pay. This way, wherever and whenever it happens, no matter what kinds of remedial actions that you need to have, you never have to worry about it.

Numbers and Quality of Benefits

insurance cover iconsEvery program will have their benefits so they can compete against each other and attract customers. Pay attention to those details and write in down somewhere if you must, later you can compare with other programs that you are interested in and make the best decision. Just remember not to get lost in the number of benefits, you also need to see whether each thing that you will get is valuable or not.…

car

Reasons to get a Car InsuranceReasons to get a Car Insurance

For some people, they spend their hard earned money on buying a new car or perhaps a new house. Buying a new car can also be an investment, and often people buy it to ride their car from town to another town, to impress someone and many more. And often people forgot to get new car insurance as they get their car because they’re already overwhelmed with the price of the vehicle and the gasoline itself. And we’re here to remind you of reasons on why you should get car insurance, make sure that you read this article to find out more about it.

car crashIn case of an accident

No matter how careful you are when driving, there will be times where things don’t go the way you want such as accidents that you may cause or someone else. If by any chances your car suffers any damage such as a broken window, scratched walls, broken tires and many more, you shouldn’t worry as your insurance will make sure that you don’t pay a single penny to get it fixed, that is if you have an insurance that is.

billsPaying medical bills

As we’ve written before, accidents may happen and sometimes beside your car, your body can also be the victim as well. And this is where car insurance will come in handy as they also cover your medical fees due to the accident. You might want to get car insurance as soon as possible as medical bills can skyrocket, and it might burn more than just your wallet. Besides paying for your medical bills, car insurance might cover more than what you think, so make sure to do some research on what the car insurance will cover.

Tip: Always wear your seatbelt and never drink and drive.

Reducing any liability

There are times where you’re the cause of the accident and the responsibility of paying falls to you, and this is where you’ll be grateful if you have car insurance as they will also help you pay with a lot of fees despite your mistakes. Medical bills for you and the people that got injured will be taken care by your car insurance, so no more worries. The only downside of this is that it takes a long time to take care of the coverage, and if your insurance has a reimburse system it’ll take even longer.