Why are older people charged higher premiums?

Health Insurers set premiums based on age, because older people tend to claim more.

With the increase in medical technology, people live longer and treatments become more sophisticated. The overall effect - an increase in medical costs.

"However the good news is that once you have health insurance, the level of cover will generally remain unchanged, even if you develop an illness or serious health problem in later years."

Source: Health Funds Association of New Zealand Inc.

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