Southern Cross targets younger market
Southern Cross has launched a new health insurance product designed for younger people.
Tuesday, April 19th 2016, 8:56PM
Chris Watney
Wellbeing Starter is an entry-level plan.
“We know from our research that there is a group of typically younger people who are interested in protecting their health or the health of their family, but can’t see anything in the market that meets their needs," head of product and marketing Chris Watney said.
“In our research – which included one-on-one interviews and a survey of a further 1,500 young adults – we heard exactly what they wanted and more importantly what they didn’t. This enabled us to focus on benefits that are important to them, at a price they are willing to pay,” he said.
At the top of the list of must-haves was cover for cardiac and cancer related treatment, some surgical cover and an every-day component that could be used at the GP or physiotherapy.
Wellbeing Starter benefits include $500,000 surgical cover, $100,000 cardiac cover, $60,000 for cancer care, including $10,000 for non-Pharmac drugs, $40,000 prophylactic treatment allowance, $3000 for skin surgery and 75% of GP and physio visits up to $150.
Lower Wellbeing Starter premiums have been achieved by excluding all coverage for orthopaedics, gynaecology and urology unless it’s directly required for the treatment of cancer.
“This may not be the plan that best suits our target market when they reach 40 – but it covers what they told us was important to them right now.”
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