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Apologies, another Health Insurance question

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  • 28-04-2015 4:43am
    #1
    NIMAN
    Registered Users Posts: 33,607 ✭✭✭✭


    Although resident in Ireland, I work in NI and have myself, OH and all kids on a company health scheme.

    OH is now asking me if there would be any need for her to take out her own standalone policy in Ireland, in case there might come a time when she isn't covered by mine?

    She is 37 btw.

    My logic? No. Since any extra now she will pay to basically have 2 policies active will amount to more than the extra she will have to pay as a penalty should she take out an Irish policy in maybe 5 or 10yrs time.


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    #2
    LostArt
    Registered Users Posts: 1,813 ✭✭✭LostArt


    The loading you receive when you take out a plan in Ireland will be for every single year after as well, so if she's 47 when taking out a plan it'll be a 26% loading every year.


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    #3
    NIMAN
    Registered Users Posts: 33,607 ✭✭✭✭NIMAN


    So she will pay 26% more on top of her premium if she was to take out a policy in say 2025.

    To prevent this, she would need to take out a policy now costing maybe €500 - €1000 per year for next 10yrs (total €5k - €10k).

    Think paying an extra 26% premium in 10yrs time sounds like the better option.


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