Do your children need Health Insurance?


In New Zealand, we have a great (and free) public health system. If you are in an emergency situation, you will get well taken care of in a public hospital. But what happens if you, or one of your children, has a health condition that is not an emergency, but still impacts on your quality of life?


Unfortunately, there are waiting lists for people who need treatment, but aren’t considered urgent – and these waits can sometimes be months. That’s where Health Insurance can step in, and give your family the medical treatment they need without the need for a waiting list.


So what are some other benefits of putting Health Insurance in place while your kids are still young?


Peace of mind

None of us wants to consider the thought our own child will get sick or injured and need medical treatment. We always think it will never happen or only happens to someone else – but what if you are the someone else it happens to?


Having Health Insurance in place that covers your children gives you the peace of mind that, should the unthinkable happen, you can have your child treated without the stress of a waiting list, greatly improving their successful recovery.


Low cost

Premiums for children are relatively cheap; especially in comparison to the potential lost income you will experience if your child does get sick, and you have to take time off to care for them while they are on a waiting list.


As Health Insurance means your child won’t be on a waiting list, they will be treated much more quickly, reducing your own downtime.


Future proofing

Once your child has Health Insurance in place, they can usually convert that policy to cover them as an adult – generally with no further medical underwriting.

Suppose your child develops a medical condition later in life. By having a child’s policy in place, they will have cover even for that condition, whereas if they took it out AFTER the condition had developed, this medical issue may be excluded (or even cause an Insurance application to be rejected altogether).


It makes sense to take out cover while your kids are young and healthy, as they unfortunately may not stay that way as they grow into adulthood. If you have young children, look into options for putting Health Insurance in place for them. Hopefully, you will never need it – but you will be glad you have it, if you do.


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© 2014 Thompson Financial Services Limited.