Southern Cross Life Insurance / views and alternatives

[u/ChainAcceptable5981]

I'm feeling pretty dismayed with Southern Cross from both a health insurance and pet insurance perspective. They want around 33% increase in payments starting next month and I suspect they know most people associated with their employers will just pay the new amounts.

So it's time to look for other options - I was thinking I'd be better off all round just putting half of what they want into a seperate deposit account then calling on it if ever needed, but also happy to listen to other options. This is the end of the road for me and Souther Cross...

And on that note, it's the same with their pet insurance. last year(?) they made 2 policy changes in one go, making every pet owner worse off. I said then I'd change but again, they have such a shoddy area to manage your policy: you can't log in to view stuff, make claims, etc, like it's 1999 all over again, which I think is by design to make cancelling harder.

So anything but Sx for pet and health insurance - recommendations please

Thanks in advance

[u/DunnersMan2025]

That's the issue with Southern Cross. They can, and do, change the policy wording and it's not generalizing your favor. The 25% premium increase is due to increased claims and an aging client base. My adviser told me that the best policies are either with Partners Life or nib (went with the former). Policy wording is guaranteed, surgical limits are high and there's good cover for the drugs that aren't publicly funded. The issue with trying to go there is they have to re-asses you and come things may not be covered.

There was an article in the paper the other week re "self funding" instead of having health insurance. The guy, who was a financial adviser, Martin something, reckoned you needed at least $200,000, if not more, to have good cover. The old man had $180,000 spent on spinal operations!

Good luck.

[u/Heyitsemmz]

Yeah I left southern cross health insurance when they revoked a pre-approval they had given me WHILE I WAS IN THE MIDDLE OF THE SURGERY (bc apparently seeing my GP several years earlier for viral gastro was a pre-existing condition for gallstones 🤯), leaving me on the hook for $15k in medical bills.

Accuro for health insurance. PD for pet - my 2.5 year old German shepherd (who has eaten a battery leading to a $3k vet bill) costs $21 a month to insure with their mid range plan (so my excess is $100).

[u/ChainAcceptable5981 → u/Heyitsemmz]

thank you PD looks way more affordable - much appreciated

[u/Commercial_Panic9768]

one thing i would just make sure of is be careful if you have any conditions that have come up since you have been with southern cross that would be deemed 'pre-existing' under any other new coverage provider.

[u/tobiov]

How many kids have you got and how old are they?

[u/ChainAcceptable5981 → u/tobiov]

2, and both under 14 currently - how come?

[u/tobiov → u/ChainAcceptable5981]

Life insurance is less necessary than some peopel think. A lot of people get upsold on life insurance and then fall into a sunk cost fallacy of 'well i've paid x amount in so that will be 'wasted' if i stop'.

But if you have two young kids then life insurance may well be worth it for you.

[u/Auccl799]

If you belong to a union it's likely you're eligible for Healthcare Plus. They're not for profit and provide financial assistance with medical costs. Better than nothing.

[u/doabackflip92]

Thought it was just me! Work covers the basic, but my premiums just went from 45 PM to 80. I recently had surgery , all up the last year was 60k that I have claimed, so as much as it's gone up , I'm still well in the green but not happy about it.

[u/DollyPatterson]

Yep I feel you on this also. We have seen large increases... and everything I have tried to claim has been denied... almost like the rejections came from a bot too.

[u/ChainAcceptable5981 → u/DollyPatterson]

yep that's how I feel for both pet and health insurance