Life Time Health Cover Loading What You Need To Know | Private Health Insurance | PHI

With private health, there are a few important rules that you should be aware of as they could directly impact the amount you pay for private health cover in the future and today I'm going to be discussing Lifetime Health Cover Loading.

DISCLAIMER:
Nothing in these videos are intended to serve as legal financial advice. Reece Caruso is not a licensed financial advisor. This video, the topics discussed, and ideas presented are Reece's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own research.

Art of silence by uniq

[curlybob]

Great video! Really helps shine light on a confusing topic
One thing to add with the loading - to cover gaps, such as switching from one insurer to another, you can be without hospital cover for a total of 1094 days (i.e. three years less one day) during your lifetime, without affecting your LHC loading. This is known as 'Days of Absence'.
So if you do cancel your cover for lets say 6 months after having insurance, it will not affect your loading

[Real.Estate.Report]

I didn't know anything about private health so this was interesting to learn about. Interesting story about that extra $900 per year premium on your father's coverage.

[MrAtor]

Lets say my 31st birthday is in march so should I get an insurance before july of that year rigth? thanks for the video.

[jimmaecar]

You are just better off never taking out private hospital cover till you need it, just use Medicare if you get sick and invest the money you would have spent on hospital cover in an asx 200 ETF or overpay your home loan.

[jacobanthony]

ADA, Theta, Link, Vchain are strong choices! Good luck to everybody :)

[Elenaa]

ADA and xlm are my favorites :) and i m holding to the $6

[marceloAK]

Thanks for the information. Can you recommend me options of private health company? At the moment I'm paying "Silver plus essential hospital" in Bupa for $120.

[Checky]

Your dad pays an extra $900 for the next 10 years, but by not taking out cover in previous years surely he saved far more than what these additional costs will add up to?