12/09/2026
The policy was cheaper. The treatment wasn’t.
Here’s something about private medical insurance that doesn’t always get talked about.
The devil is in the detail.
Two health insurance policies can look very similar when you’re comparing the monthly premium. But dig into the wording and you can find some significant differences.
Take medicines, for example.
Some providers may cover certain Medsafe-approved medicines that aren’t funded by PHARMAC, subject to the policy’s terms, limits and exclusions.
That might sound like a small technical difference when you’re sitting at home comparing policies however, It can feel very different when you’re sitting in a specialist’s office and the treatment they recommend isn’t funded by PHARMAC.
And medicines are just one example.
There can be important differences around:
*Specialist consultations
*Newer treatments and procedures
*Exclusions
*Pre-existing conditions
*Limits and sub-limits
*Pre-approval requirements
*Exactly how “covered treatment” is defined
So yes, price matters.
But the question shouldn’t just be:
“Which policy is cheapest?”
It should be:
“What am I actually getting for my money?”
Because saving a few dollars a month feels pretty good...
until you discover the treatment you need isn’t covered.
At TBM, we believe comparing insurance means looking beyond the premium and into the policy wording.
Because the cheapest policy isn’t always the best value.
TBM Insurance, we read the fine print, so you don't have to.
Give Darren a call on 027 222 7001.
