I am a relatively frequent traveller with children. I have spent a few tense moments in medical centres in various parts of the world. Fortunately all were relatively minor, apart from my middle-child's asthma - which can get serious. Whatever the problem, it really does help to have one less thing to worry about - like whether you can afford the treatment, which can be surprisingly expensive. Two consultations and a tube of ointment cost US$400 for the youngest child when we were in Hawaii.
Obviously Southern Cross is keen for you to buy their travel insurance. But these case studies are useful reminders about how even minor medical mishaps can have far-reaching consequences if they happen during a bad moment in a tightly scheduled travelling day.
Southern Cross Travel Insurance (SCTI) CEO Craig Morrison said “The other week I heard a story about a family almost missing the start of a cruise because the youngest child had fallen out of bed and hit their head on the bedside table at a hotel. Although the injury wasn’t serious, there was a cut that needed stitches. By the time they’d gone to hospital and waited for treatment they came close to having to re-plan their entire holiday.”
Some of their recent childrens’ claims include:
- $70,000 – child had thumb severed by tow rope while water tubing and had to undergo complex microsurgery.
- $19,000 – child suffered a seizure requiring a doctor escort to New Zealand for ongoing investigation
- $5,000 – child developed chicken pox and missed flights home
- $4,000 – child admitted to hospital with Rotavirus
- $4,000 - child required surgery on broken arm after falling off trampoline
Southern Cross also gives the following useful tips:
- Research basic first aid, such as what to do if a child chokes, is stung by an insect or suffers a sprain.
- Pack a first aid kit suitable for your destination.
- Be very clear to communicate between adults about who is responsible for watching children, particularly around water.
- Reinforce pedestrian road safety – particularly if cars drive on the other side of the road.
Quotemonster is now two years old and is now the number one place to go for pricing and research. We are thrilled with this response and are committed to continuing to be your first choice.
As part of this we are holding another round of road shows in Auckland, Wellington and Christchurch. Ideal for you to attend if you are new to Quotemonster or if you are an old hand but want to learn about what’s new.
- New Research tools (Business, IP Claims, Insurer Selector, Funeral Plan and Head to Head)
- Policy Document Library
- New poster - Why You Need Insurance: The Financial Facts
- New quote options and products
- Tips and tricks
- The latest news on more than a dozen price and product changes since you last joined us
As always these sessions will be jam-packed full of good ideas and something to take away with you.
Click on the links below to register:
Auckland - North 28 October 2014
Auckland - Central 28 October 2014
Wellington 30 October 2014
Lower Hutt 30 October 2014
Christchurch 31 October 2014
After a slow first half of the year the pace of change has pushed back above the trend line with seven companies changing product or price (or both) in the past quarter:
- Partners Life
- Southern Cross
We report on each one as they come up, but it is worth reflecting the number as a whole. If you are not watching the market bear in mind that your perceptions of price and product competitiveness can quickly get out of date with this rate of change.
Nib, the country's second-largest health insurer have introduced a new scheme to cover health expenses for New Zealanders working overseas. Nib's Rob Hennin says more than 45,000 New Zealanders a year went overseas for an extended time, and either relied on their travel insurance for health cover or did not have specific insurance cover.
As Kiwi's have long-since discovered that they can fly, they have been living and working for extended periods overseas. Although I am surprised to discover it many set off without even getting travel insurance. Even those that do buy some travel cover, simply forget about it when they get a job, or their temporary assignment turns into the start of an expat career. They can buy good international cover.
Read more here.
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We have been made aware that a few of the bank insurance products have updated their policy terms and conditions. We are currently in the process of updating our database to reflect these changes and we aim to have them live shortly.
When comparing bank products here are a few helpful tips:
- If quoting Trauma or TPD make sure it is Accelerated if you want the banks to appear in the research as most don't offer Standalone Trauma and TPD
- When quoting Income Protection Indemnity and the bank you want is NOT appearing, change it to Agreed Value and see if they appear there, if not their product could possibly be rated under Mortgage Repayment
- The banks will not appear if the clients age is out of the range covered by the banks protection, this commonly happens if the client is aged over 55
- Make sure the bank offers the occupation class you have selected, some banks do not offer TPD to class 3 or 4, most do not offer to class 5
Here is a screenshot of "Step 3: Compare Insurers" in the "Research" tab where you can select which companies you want to appear on your QPR report. You can only have 14 companies selected so you may need to un-tick a company to allow you to include the bank of your choice.
Any further questions about comparing banks email us or call us (09) 480 6071.
For those of you who subscribe to our Medical Comparison Database version 36 is now available. This new version includes the following updates:
New AIA rates effective 23/8/14
New Accuro rates effective 1/9/14
Sovereign Absolute Health rates have been replaced with the new Private Health product launched 1/9/14
There is now a "View Policy Document" button in the partial policy wording section which will open a new tab and generate the full policy document for each company in a pdf.
Accuro Smartcare+ prices and policy documents have now been updated on Quotemonster. It appears that Smartcare+ has increased by 9% and an increase of 8% when Specialists and Tests are included.