Why Younger Clients Shouldn’t Delay Getting Health Insurance Cover
When you’re young and healthy, insurance might be the last thing on your mind. It’s easy to focus on the here and now - your studies, your career, your next trip. But here’s the thing: getting health insurance (and other personal cover) early is one of the smartest financial moves you can make. In fact, putting it off could cost you far more than you realise.
Here are three compelling reasons why younger New Zealanders should think seriously about getting health insurance, life insurance, and income protection sooner rather than later.
Lock in Lower Premiums While You’re in Good Health
One of the biggest advantages of getting cover young is the ability to lock in a low personal insurance premium rate that does not escalate with age. This can have a huge impact over time, especially because the most common reason people cancel their insurance later in life is the unaffordability of increasing premiums—creating the dilemma of “when you need it most, you can least afford it.”
Premiums for health insurance, life insurance, and income protection are based on your age and your health at the time you take out the policy. That means if you're fit and healthy now, you’ll likely qualify for the lowest premiums available, and those rates can stay with you for the life of the policy. But if you delay and then later develop a health condition, two things can happen:
You might face a premium loading, which increases your cost
Or worse, that condition may be excluded altogether from your cover
Getting in early protects your future insurability. It’s a smart move that gives you options. When you’re young, you’re in the best position to choose comprehensive protection without the limitations that might come later.
Faster Access to Medical Treatment and Diagnosis
ACC and New Zealand’s public health system provide essential coverage for accidents and emergencies. However, it’s important to remember that ACC only covers accidents. The problem is that disability claims for sickness far outweigh accident-related claims. But what about the health issues that aren’t urgent or accidental, like specialist appointments, diagnostics, or elective surgeries? This is where health insurance steps in.
Private health insurance can give you quicker access to treatment and diagnosis, meaning less time off work or study, and faster recovery. Whether it’s a sports injury requiring surgery or an emerging health issue that needs investigation, the ability to bypass long public waitlists can make a huge difference.
And again, getting cover before any issues arise is key. Once you develop a condition, it’s often too late to get it covered.
Protecting Your Income and Lifestyle
When you're starting your career, your most valuable asset isn’t your car or your savings—it's your ability to earn an income. That’s why income protection insurance is so important, even for younger people.
Income protection provides a monthly payout if you're unable to work due to illness or injury. It can help cover your rent or mortgage, bills, and everyday expenses while you recover. If you’re self-employed or have limited sick leave entitlements, this kind of cover can be a lifeline.
Just like with health cover, starting early means lower premiums and a better chance of getting full cover without exclusions. It also provides peace of mind knowing you have a safety net in place, no matter what life throws your way.
Health Cover is More Affordable Than You Think
One of the most common misconceptions among younger people is that insurance is expensive. But in reality, health insurance is typically very affordable when you’re young. You can even tailor your plan to suit your budget by adjusting the excess or choosing the right level of care.
For example, you might focus on specialist care and major surgery rather than day-to-day healthcare. That flexibility means you get the protection you need without overpaying for what you don’t.
And as your life evolves with career changes, home ownership, and/or a family, your cover can adjust with you.
Cover That Grows with You
One of the biggest benefits of partnering with an adviser is that your cover is not static—it’s built around you and your life stage. IFAA advisers take pride in selecting the best of the best solutions based on independent research and real-world experience.
We don’t offer one-size-fits-all policies. We offer tailored advice that puts you first, so you can be confident you’re getting the best value, the right cover, and long-term support. Whether it’s assisting with policy setup, advocating for better terms, or guiding you through claims, we’re with you every step of the way.
Protect Your Future, Starting Today
Getting health insurance and other personal cover early isn’t about being pessimistic. It’s about being prepared, giving yourself options, protecting your lifestyle, and securing cover while you’re in top health.
So, if you’re young, healthy, and thinking, “I probably won’t need it yet”, that’s exactly why now is the best time to act.
Talk to an IFAA adviser today. We’ll help you choose the right cover, not just the best available, but the best for you.