Australia travel guide


Australia Travel Guide

Insurance in Australia

If you are thinking to live in this charming country, one of the most important things you have to know is about Insurance in Australia (for knowing about basic information visit this Insurance). This country has a well-developed insurance market which includes: Health insurance, life insurance, general insurance, among others.

We detail some of them:

Health Insurance

Private and government institutions provide health insurance in Australia. Medicare operates and administers national health program in this country, since 1984. Australia provides a universal health insurance through Medicare. Australian people with a Medicare card can receive treatment in public hospitals, but travelers from other countries have limited access to this system. 

Choosing a private health insurance allow people to take a full coverage plan or one that covers just selected services. Sometimes the cost for the services in private hospitals can cost more than the payment people make for this kind of insurance. One of the largest private health insurance organizations is the owned by government called “Medibank Private”. It operates as an enterprise. It was established in 1976 and today, it provides services to 3.6 million people approximately. It focuses on deliver occupational health services, preventative treatment, etc.

Life insurance

Before talking about the types of this insurance in Australia, let’s understand what life insurance implies. Life insurance delivers a lump sum to the family in case of the insured death, this way the family gets protected after such event. In average the cost per month for life insurance may depend on some variables such as the gender, age, if you are smoker or not, etc.

Life cover insurance in this country includes disability income insurance and term life insurance (which is the most popular).

Disability insurance. (DI) It insurances the beneficiary’s earned income against a disability such as a coma, psychological disorders, etc. It includes short and long term disability benefits, paid sick leave, etc.

Regarding term life insurance, how its name says it has a limited term, because it is available to people aged between 17 and 69. It provides a lump sum to your family in the case of terminal illness or death. In order you choose the right life insurance company, you have to check its information, because some of them suspend life insurance benefits after around ten years. 

Life insurance can be used to satisfy needs such as children’s education costs, outstanding loans to pay, family’s income needs, etc. 

The following are some of the most known life insurance companies in Australia: AIA Australia, AMP Limited, Allianz Australia, MLC, Macquarie Life, OnePath (ANZ), Zurich Australia, etc.

Travel insurance

If doesn’t matter if you are going to take a short break for holiday or a business trip, it is for sure that having a travel insurance can help. In order to get a travel insurance, check the polic   ies of the companies and choose one that suits your needs and budgets and offer you a good coverage of medical assistance, luggage, risk of cancellation, etc. This kind of insurance may apply from when people leave their home to go to the departing place of their trip and end when people return to their home.

In order you choose a company for travel insurance, we recommend you to ask for the following questions:
  • What are the events which are covered?
  • What are the events it doesn’t cover?
  • Is it possible to extend the term of the travel insurance?
  • What is the annual or monthly payment?
  • Does your travel insurance cover accidents during sports activities?

These are the common issues to buy travel insurance:
  • Medical assistance. This is an important reason why we have to get travel insurance. If you need medical assistance in other country, it can be expensive, so it is better to count with a company which takes care of this. 
  • Flight cancellation: In this case, travel insurance covers the cost of the flight when for some reasons such as accidents or illness you can’t leave to your destination. 
  • Outdoor activities: You have to be sure that activities such as climbing, skiing, surfing, hiking, etc are covered for your travel insurance. If you love this kind of activities such as skiing in the New South Wales, you may look for a skiing insurance.
  • Theft of personal belongings. Although you know that this is covered by your travel insurance, you have always to take care of your belongings when you are traveling.

Remember you can check an insurance guide to know more basic concepts.

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