Health Fund Sign Up Bonuses for March 2012
There are some definite advantages to having private health insurance. Being able to choose who treats you, and paying no Lifetime Health Cover (LHC) loading fees, are just two of the benefits. Not thought about getting private health insurance before? Now is the perfect time to compare health insurance options.
While you should always put your needs first when you compare health funds, there may be several that seem equally important. In this scenario, you may find it difficult to know how to choose. Many Australian health funds offer sign up incentives to encourage you to choose them. This can prove useful but it can take a while to check them all out. Don’t have the time to do this? You’re in the right place! We’ve rounded up the best sign up bonuses for March 2012.
Waived extras waiting periods
Under normal circumstances, you will have a waiting period for ancillary cover. Pre-existing conditions, pregnancy benefits and major dental cover have a 12-month waiting period. Most other extras carry a two-month or six-month waiting period. However, many Australian health funds will waive the lesser waiting periods as a sign up bonus. This means that you can claim as soon as you need to for those extras.
BUPA Australia, HCF, Medibank Private and NIB are some of the health funds offering this for March. Watch out for exclusions. The HCF and NIB offers do not include palliative care, psychiatric and rehabilitation extras, while Medibank Private’s offer excludes ambulance cover.
Some health funds will offer some of your cover for free to win your custom. For example, Medibank Private offers 6 free weeks if you sign up in March. You need to pay the first month but the next six weeks will be free. HIF are currently offering 43 days for free after you have paid your first premium.
With some health funds, you may get a specific month’s cover for free. For CUA and GMHBA, this is currently the first month while for AHM, your second month’s cover will be free. You will often need to pay premiums by Direct Debit to get these type of bonuses.
Some health funds offer free gifts to win you over. For example, Peoplecare are offering a free magazine subscription if you join in March or April. There are several health-related titles to choose from.
A word of caution
We all love a good deal, but don’t forget to put things in perspective. If you concentrate purely on the sign-up incentives, you may choose a health insurance policy that is not quite right for you in other more important aspects. Always keep health fund sign up bonuses as just one aspect of your health insurance comparison. Do not be swayed into choosing a policy that does not fit your needs just to get a sign up bonus.
Another top tip: don’t forget the terms and conditions. You may need to fulfil specific criteria to be eligible for the sign up bonus. For example, you may need to pay your premiums by Direct Debit to be eligible for some offers. Read the small print carefully before you decide what to go for.
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