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Health Insurance Premiums Slashed By 50% for Kiwi Discount Club Members
Members of Kiwi Discount Club can now save over 50% on their health insurance premiums in the first year and 30% on their premiums for the life of the contract.
Kiwi Club members obtain this savings through a combination of a cash rebate of commission received from the Insurance broker firm placing the business on behalf of our members and a nominated voluntary excess of a $1,000 on the policy with the insurer.
An excess is the amount of money you’ll need to contribute towards the total cost of any claim you make for each diagnostic investigation or treatment. If your policy excess is $1,000 and you have a health claim costing $12,000, the insurer will pay $11,000 and you’ll need to contribute $1,000.( refer exclusive offer for Kiwi Club members below)
Having a higher excess still protects you against the bigger treatment costs, allowing you to self insure to a degree that you are able to handle.
Kiwi Discount Club members who purchase their health insurance online through discountedmedicalinsurance.co.nz will receive a 30% cash rebate on their first years premiums and this put into a savings account will go a long way to paying the $1,000 excess in the event of a claim.
In addition in the event of an insurance claim in the first two years of membership the Kiwi Discount Club will pay the member the difference between the $1,000 excess if under age 55 and the cash rebate of the first years premium already paid in effect giving its members the benefits of a no excess policy.
After two years the savings made from the lower premium combined with the 30% cash rebate more than covers the $1,000 excess you will have to pay in the event of a claim.
For members joining over age 55 the voluntary excess will be $2,000 and the same top up will apply.