Health Insurance For Couples
There are many good reasons to join your insurance policy with your partner’s. Insurance companies don’t care what kind of couple you are and you don’t even need to be married for Couple’s Insurance to apply to your situation.
There are a few points to consider before going ahead with the conjunction of policies. Here are some tips to make sure you make the right choice when it comes to Couple’s Insurance:
Lifetime Health Cover
Lifetime health insurance is an initiative put forward by the government that really helps you save money in the long run. It incentivises young people to take out health insurance before the age of 30. After the age of 30 the price of health insurance goes up. If you lock down a low premium rate before the age barrier, you could be looking at paying that reduced rate for the rest of your life.
For every year of delay in taking out insurance, your premium rate will go up by around 2% meaning if you wait until the age of 35 your insurance premiums will have gone up by around 10% on what you could’ve been paying if you had locked down your premiums at 29.
This is important to think about when considering couples insurance as both of your age loadings are taken into consideration and combined, this could be good news for one member of the partnership and bad news for the other. There is a simple formula to explain how it works:
[partner 1's age loading] + [partner 2's age loading] divided by 2 = the average age loading.
Advantages of Taking out Couple’s Cover
If you’re in a relationship you may want to consider taking out couple’s health insurance cover, so you have the one policy number and one premium payment.
Also, if you're planning to have children, couples' health cover is a great idea, as most low-cost singles' health insurance policies will not cover you for pregnancy and birth-related services, orassisted reproductive services. Often you can add children to a couples’ health insurance policy for free.
You should consider comparing insurance quotes using a tool like Choosi.
Couple’s insurance covers you for the same services most single insurance policies do, like doctor’s fees, theater costs, hospital accommodation etc.
This is general information only: and does not take into account your financial situation or needs.
Susan S. Disclosure: The reviews and or opinions on this blog are my own opinions . No monitory compensation was received. I was not required to write a positive review. Your experience may differ. The opinions I have expressed are my own I am disclosing this in accordance with the Federal Trade Commissions 16 CFR Part 255: Guides Concerning the Use of Endorsement and Testimonials in Advertising .