You're young, you don't need health insurance - or do you?

In your 20s or 30s? It’s an exciting stage of life, full of firsts and possibilities at every turn. You may be starting your career or looking to advance, studying or upskilling, all the while laying the foundations for your financial future.

And maybe, just maybe, with so much going on in the present moment, you’re not thinking about the future too much. Isn’t being young about experiencing life as it flows?

Now, it may sound counterintuitive, but there are good reasons to consider health insurance at any age. Yes, even when you’re young and healthy. In fact, especially when you’re young and healthy. Let’s start with the first one.

No one is bullet-proof

You probably won’t be claiming for cataract surgery at your age, but there’s still a lot that health insurance can help you with.

Health cover is designed to provide faster access to private treatment and diagnostics, so you don’t have to wait in line in the public healthcare system. Many young people, for example, use it for things like tooth extractions, hernias, skin lesions, and endometriosis surgery.

Plus, when it comes to serious illnesses, it has been proven that some forms of cancer are not just an ‘older person’s disease’. In the case of breast cancer or bowel cancer, getting an early diagnosis can make all the difference – a crucial step that health insurance can fast-track for you.

The limits of ACC and public healthcare

Here in New Zealand, we’re lucky to be able to rely on our public healthcare system for urgent care, and ACC for accident-related injuries.

But what about all those scenarios that are neither urgent nor accident-related? Some medical issues may not be life-threatening (e.g., hernias, endometriosis, etc.), but leaving them untreated for months, while waiting for your turn, can significantly affect your quality of life.

It’s just a small but powerful example, showing the value that health cover brings every day to Kiwis of all ages and walks of life.

For your health cover, you’ll be ‘forever young’

Enough talking about medical issues: after all, the younger you are, the less likely you are to experience relevant health conditions.

But protecting yourself ‘in the now’ isn’t the only reason to consider health insurance. In fact, it’s largely about protecting yourself in the future, with the most comprehensive cover you’ll ever get.

Here’s why: the healthier you are when you take out cover, the more comprehensive protection you can secure. Once you develop a medical condition or suffer a medical event, it becomes difficult to get that covered by health insurance. It may be completely excluded from a future policy, or be covered in return for higher insurance premiums.

The reality is, you’ll never be as young as you’re today. And by taking out cover now, in a way, you’ll be that young forever.

Options to suit your budget

Lastly, the younger and healthier you are, the lower your insurance premiums are likely to be. This means you can get peace of mind, at an affordable price.

Premiums vary depending on the insurer, the policy you choose, and what features you include. For example, you may want to take out cover for specialist visits and diagnostics, everyday medical costs like GP visits and dental care, or a mix of both.

Then, you can further tailor your policy by adjusting the excess and carefully selecting add-ons.

Not sure where to start?

Finding the right health cover for your needs, present and future, can be challenging. So if you’re not sure where to start, seeking expert help is a good idea.

By taking the time to understand your circumstances, an experienced insurance adviser can help you protect your most important asset – yourself.

Click here to find a financial adviser specialised in Personal Risk near you today.

Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.