In the journey of life, health is undeniably our most precious asset. For those in their 20s and 30s, the prospect of health insurance may seem unnecessary when you’re in the prime of youth. However, securing a health insurance policy early is a crucial step towards safeguarding not just your health but also your financial future.

In the latest report from the Financial Services Council, it’s revealed that around 1.45 million New Zealanders have health insurance, with $1.8 billion in claims being paid out in past year. Notably, about a quarter of all claims were made by customers under the age of 45, underscoring the diverse age range of those who benefit from health insurance coverage.

Why Consider Getting Health Insurance?

Coverage for Unexpected Medical Expenses.


Life is unpredictable, and sudden health issues can arise regardless of age. Health insurance acts as a financial safeguard, covering the costs of unforeseen medical expenses that could otherwise lead to significant financial burden or depletion of savings.


Advantages Over the Public System.


In New Zealand, private health insurance offers tangible benefits over the public health system, including quicker access to medical treatments, the freedom to choose preferred specialists and healthcare facilities for a more personalised care experience, and coverage for additional services and treatments not available through the public system.


Preventive Care.


Certain health insurance plans will cover GP visits and check-ups – essential for early detection and management of health issues, leading to healthier, longer lives and potentially lower healthcare costs in the future. Health insurance can also cover services to support mental health and wellbeing, listed as one of the top health concerns for younger generations in the latest Financial Services Council report.


Pre-Existing Conditions Benefit.


One of the main advantages of obtaining health insurance at a younger age is the potential to secure coverage for conditions that are diagnosed after your policy begins. Insurance policies typically exclude pre-existing conditions if they are diagnosed before the policy start date. These could range from chronic illnesses like diabetes or asthma to previous surgeries or ongoing treatment. Therefore, enrolling before such conditions arise ensures broader coverage.


In summary, investing in health insurance during your 20s and 30s is a sound strategic move for protecting your health and financial future.


How do I know what Health Insurance is right for me?

Navigating health insurance options can be complex, but you don’t have to do it alone. Contact an Apex Financial Advisor today to explore your health insurance options and find a plan that’s perfectly tailored to your needs and lifestyle. Our team is dedicated to helping you protect your most valuable asset—your health—so you can enjoy peace of mind in your prime years and beyond.



FSC’s Money & You – The Perception Gap