Which statement is true about Lifetime Health Cover?

• A. Lifetime Health Cover Increases Premiums Immediately At Enrollment
• B. Lifetime Health Cover Is Only For People Over 60
• C. Lifetime Health Cover Allows Unlimited Access To Hospital Services
• D. Lifetime Health Cover Increases Premiums By 2% For Every Year After Age 30, For The Next 10 Years

Answer: (D)

Lifetime Health Cover is an age-based premium loading on private hospital cover meant to encourage people to take out private cover earlier. The loading adds about 2% to your base private hospital premium for every year after you turn 30, and it stays in place for the next 10 years after you join. That’s why the statement describing a 2% increase for each year after 30, lasting for 10 years, is correct. It isn’t about immediate increases at enrollment, it doesn’t only apply to people over 60, and it doesn’t grant unlimited access to hospital services.