All about premiums

What influences premium changes?

Healthcare costs continue to rise year on year. These rising healthcare costs combined with a growing number of claims, saw the total amount we paid in claims grow by 6% in 2018 (from 2017).


How could I reduce my premium?

Pay by direct debit

If you have a private policy with Southern Cross (ie your policy is not in a work scheme), you can get a 2.5% premium discount when paying by direct debit. Set up a direct debit now in My Southern Cross or contact us.

Add an excess

You may be able to add an excess to your policy. This means when you need to make a claim, you pay an agreed amount. In return, your premium is lower. To see if an excess is available on your plan, please contact us.


Review your level of cover

Your renewal may be a good time to review your cover and make sure it still suits your needs. If you want to reduce your premium and you're currently covered for extras such as optical and dental treatment, doctors' visits and prescriptions, consider changing to a plan that covers you for major medical treatment, diagnostic tests and specialist consultations instead. View our plans to learn more.


What influences premuim changes?

Ageing

Premiums usually increase with age, this is because as we get older there's generally a need to claim more often, and for greater amounts. In particular, members turning 21 may notice a larger premium increase than usual because from this age, an adult premium rate applies.

Rewards and discounts

Some members may qualify for discounts on their premium. These include a direct debit discount, low claims discount, healthy lifestyle reward, and free child discount.

Work scheme arrangements

If you're part of a work scheme, it's likely that you receive a discounted rate from private membership rates. This discount is reviewed each year and may take into account:

  • the number of employees in your work scheme
  • the total claims paid for your work scheme
  • any subsidy that your employer provides
  • the way your premium is paid


What procedures are members claiming for?

policy-renewal-uv

All about premiums

What influences premium changes?

Healthcare costs continue to rise year on year. These rising healthcare costs combined with a growing number of claims, saw the total amount we paid in claims grow by 6% in 2018 (from 2017).


How could I reduce my premium?

Pay by direct debit

If you have a private policy with Southern Cross (ie your policy is not in a work scheme), you can get a 2.5% premium discount when paying by direct debit. Set up a direct debit now in My Southern Cross or contact us.

Add an excess

You may be able to add an excess to your policy. This means when you need to make a claim, you pay an agreed amount. In return, your premium is lower. To see if an excess is available on your plan, please contact us.


Review your level of cover

Your renewal may be a good time to review your cover and make sure it still suits your needs. If you want to reduce your premium and you're currently covered for extras such as optical and dental treatment, doctors' visits and prescriptions, consider changing to a plan that covers you for major medical treatment, diagnostic tests and specialist consultations instead. View our plans to learn more.


What influences premuim changes?

Ageing

Premiums usually increase with age, this is because as we get older there's generally a need to claim more often, and for greater amounts. In particular, members turning 21 may notice a larger premium increase than usual because from this age, an adult premium rate applies.

Rewards and discounts

Some members may qualify for discounts on their premium. These include a direct debit discount, low claims discount, healthy lifestyle reward, and free child discount.

Work scheme arrangements

If you're part of a work scheme, it's likely that you receive a discounted rate from private membership rates. This discount is reviewed each year and may take into account:

  • the number of employees in your work scheme
  • the total claims paid for your work scheme
  • any subsidy that your employer provides
  • the way your premium is paid


What procedures are members claiming for?

policy-renewal-uv