Monthly Archives: September 2014

Eight health insurance pitfalls to avoid

Source: Sunday Indo Business Author: Dermot Goode
There is now real competition in the private health insurance market with four insurers fighting for market share - Vhi Healthcare, Laya Healthcare, Aviva Health and GloHealth. The downside of this competition can be summed up in one word - complexity! With over 300 products and benefits changing almost monthly, it's not surprising that consumers fall into the many pitfalls associated with health insurance and miss out on valuable savings.Here are eight of the most common mistakes that consumers make with health insurance - which you would do well to avoid. One: Putting all your dependents on the same plan. Everyone has different cover requirements so insure all dependents only up to the level of cover they need - you can have everyone on the one policy but all on different plans. Two:...

Telling little white lies could mean your insurance claim being turned down

Source: The Independent Date: 05/09/14 Author: Simon Read
One-in-five of us admit to lying to our insurance company. That’s despite the fact that wrong information on an insurance form can lead to claims being turned down, a fact that four out of five of us know. Why do we take the risk? Partly because we think it doesn’t really matter – it’s a white lie – but partly because some of us are frightened of the consequences of telling the truth. “People lie about all sorts of things – from their weight to their employment experience – but the ‘white’ lie is still the most prevalent,” says Dr Patrick Fagan, Lecturer in Consumer Behaviour at Goldsmiths University. “There is a feeling that the more irrelevant the lie, the less severe the consequences, but this just isn’t true. I think we’d all...
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