Magazine article New Zealand Management

Executive Health: In It for the Long Haul

Magazine article New Zealand Management

Executive Health: In It for the Long Haul

Article excerpt

Byline: Peter Tynan

Think for a moment about the difference between a long and short haul flight. If you're on a short haul flight -- say Auckland to Wellington -- then you don't really have a lot of time to consider the experience, to notice if the seat is uncomfortable or that you haven't had a hot drink during the 50-minute flight.

In contrast, on a flight from Auckland to London your needs are that much greater and so is the level of comfort and service you require. Spend more than four hours flying in economy and you soon understand why those who can afford it opt to travel up the front of the plane or pay more for extra leg room.

Well, insurance isn't that much different. Car insurance policies, for instance, are pretty simple and standard and if you decide to move insurers chances are you'll take any no-claims bonuses with you.

But when it comes to some of the bigger insurances -- such as life and health -- cheapest isn't always the best. You need to be in it for the long haul... swapping planes in mid-flight is not recommended!

As consumers we're actively encouraged to shop around for the best deal. However, when thinking about switching insurers it's important that people consider the benefits they can lose by changing on the basis of price alone.

With health insurance the new insurer re-evaluates the individual's medical history and that may show a very different picture than the one the original insurer had.

Say for example, you claimed for endometriosis treatment or the removal of a benign bump while with Insurer A. …

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