Let’s get straight to the point. It is about ensuring you get the maximum value from the investment you made towards your extras health needs.
Can you get a refund if you cancel your account with your extras health insurance providers for what you have not used?.
The best may be future payments may be cancelled or a pro-rated refund of future months may be refunded possibly.
Here is how XHP is different
If you decide to cancel, the cancellation forms are on your portal, you do not have to wait on an agent to talk you out of your decision to cancel.
All you do is fill in the form and 80% of your account balance after settling of all outstanding balance is refunded to your nominated bank.
How is that for a change?
However, you must consider that some health funds extras cover may change their offering or limits, in which case you may be better off with private health insurance extras cover. It would be in their offer document.
Information provided is General Information only. Your personal circumstances have not been considered and do not constitute financial, legal, accounting or tax advice. Past performance is not indicative of future performance. Information used here is based on assumptions as above and as having occurred in the past, is not a future forecast. Account balance calculation is based on no spend for health with either PHI or XHP. The return for health insurance assumes no claim on a health insurance policy over the relevant period. No value has been attributed to holding a health insurance policy in the relevant period however it may be desirable to hold health insurance based on your personal circumstances.
Xtras Health Plan Ltd – AFSL500574
Xtras Health Plan Savings Scheme – ARSN 627076411
Xtras Health Plan Ltd – ACN 618020885
Xtras Health Plan Savings Scheme (Xtras) is not an insurance policy and you should consider your personal circumstances before deciding whether to open an account. Funds deposited to an account will not be eligible for a private health insurance rebate. Xtras may be considered as a replacement for or to act supplementary to private health insurance depending on your personal circumstances. Xtras Health Plan Ltd does not warrant that Xtras is suitable for your personal circumstances and you should consider your health and financial needs before deciding whether to open an account. There is a risk that you may have insufficient funds in your account to meet the costs of health treatment depending on the treatment required and amount deposited to your account.