About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Tuesday, February 18th, 9:25PM
Latest Headlines

The need for medical insurance

Rationing is alive and well in healthcare. It isn’t even that controversial these days: everyone accepts that there isn’t enough money for everything we want. It just gets messy when we disagree over where the money should be spent.

Monday, July 11th 2011, 2:02PM

by Russell Hutchinson

A couple of years back I met a woman who had been offered cover with a loading - not astronomical - but like many clients a "100% loading" sounds awfully high.

She was worried - "does that mean I am twice as likely to die?" I said it means the insurance company wants double the premium, which isn't quite the same thing. Trying to be reassuring I looked at the numbers "Besides. Fewer than two people out of every thousand your age dies, so if you chance is either three in 1000 or four in 1000 that's still very low."

But this wasn't the problem. The problem was what her doctor had told her.

"My doctor says I don't need any treatment, so the insurance company must have got it wrong."

Ah, perhaps. Or maybe to doctor doesn't have to deal in probabilities, or maybe the doctor didn't want to say "In the US, if you were insured, we'd correct this with surgery. Here in New Zealand, we don't consider this worth correcting, because it increases your risk of death by only about 50% to 100% a year".

In truth there is another possibility - that the client doesn't well remember what the doctor said.

In matters of health sometimes the strangest things are the things we tell ourselves. But assuming her recollection was good, then "don't need any treatment" is at best a highly relative statement, and at worst, a lie.

It disturbs me that rationing care, even to a woman in her early 30s, is perhaps so normal that it is not even questioned by the people that do it.

There is no better advertisement for medical insurance.

« Ssshh, but it is still about sellingWhat advice can you offer your old whole of life clients? »

Special Offers

Commenting is closed



Printable version  


Email to a friend
Insurance Briefs

Southern Cross launches advisory group
Southern Cross Health Society has announced the establishment of a Māori governance advisory group in a first for New Zealand’s health insurance sector.

HealthLink and Konnect NET to merge
Healthcare technology companies HealthLink and Konnect NET are merging.

Fidelity scores top award for third consecutive year
Fidelity Life has been named 2019 Life Insurance Company of the Year by ANZIIF for the third consecutive year.

Suncorp invests in wellbeing
Suncorp New Zealand has now invested a total of $20 million into wellbeing bonds as part of its focus on identifying sustainable investment opportunities that can deliver positive community outcomes.

News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
Site by Web Developer and eyelovedesign.com