Applying for insurance in Australia as an immigrant is important in Australia, due to work, academics or any other purpose, it is crucial to have appropriate insurance that offers coverage against unforeseen incidents. Despite the thrill of relocating Down Under, securing optimal insurance holds paramount importance.
To assist immigrants with the insurance application process in Australia, we have meticulously collected pertinent information to help you navigate it smoothly.
Insurance for immigrants in Australia
To ensure proper preparation for the application process, it is crucial to have knowledge and a clear understanding of the available insurance types that may be necessary.
The following are the primary categories of insurance in Australia:
1. Coverage for Medical Expenses
As the saying goes, good health is akin to riches. This particular insurance policy tackles medical costs in case of illness or any health obstacles encountered while residing in Australia.
2. Car Insurance
Car insurance ranks second on our list of essential insurances. It is a crucial and mandatory coverage to have if you intend to operate a vehicle during your stay in Australia.
3. Insurance for your Home and its Contents
Throughout time, homes have succumbed to destruction by flames and individuals suffer the loss of their possessions. It is understandable that one would not want this fate for themselves. Fortunately, home and contents insurance serves as a safeguard against such devastation. With its assurance, you can be unequivocal that your property remains protected at all times.
4. Travel Insurance
The Travel Insurance holds the last position on the list and serves as a valuable option to safeguard against risks associated with travel.
GUIDE ON OBTAINING INSURANCE IN AUSTRALIA AS AN IMMIGRANT
STEP 1: Discover the top insurance provider
When applying, the initial step to be taken is searching for the most suitable insurance company.
By accessing insurance company websites online through your laptop or mobile devices, you can complete this task.
Some of the well-known insurance companies easily available in Australia are listed below:
- Medibank can be rephrased as “The health insurance provider, Medibank”.
- Allianz can be rephrased as “a multinational financial services company named Allianz.”
It can be confusing to identify the insurance company that aligns with your needs as you conduct online research.
To avoid being uncertain, it’s important to carefully consider the reviews and compare the coverage and cost of different insurance companies. By doing so, you can make an informed decision on which insurance is ideal for your requirements.
STEP 2: Verify Visa Requirements
When applying for insurance, certain companies may mandate that immigrants provide a visa. Therefore, it is essential to research and understand the specific visa prerequisites requested by various insurers in Australia.
If you hold a student visa, it is mandatory to possess an Overseas Student Health Cover (OSHC).
Do not forget to verify the required criteria for your visa category on the website of Australian Government Department of Home Affairs.
STEP 3: Upload the Required Documents
In order to request for insurance coverage, it is essential that you collect certain vital records.
- Passports
- Details about the visa
- A document that confirms where someone lives (such as a rental contract)
- Health insurance requires records of a person’s health.
Preparation of these documents in advance will render the application process seamless and expedited.
STEP 4: Request insurance coverage
Once you have compared and selected the optimum insurance company, you can proceed with the application process. The majority of insurers offer an online application facility for your convenience.
Simply adhere to the guidelines provided on your selected insurance website and complete the application form with meticulous attention.
Furthermore, the required personal information and documents will need to be provided.
STEP 5: Process your Payments
Once the online form has been completed,
Paying for insurance is required and companies provide flexible payment options which can be monthly or annual.
Make sure to select the alternative that suits your needs best and settle your payment promptly.
FREQUENTLY ASKED QUESTION
1. Are immigrants entitled to free healthcare in Australia?
Australia requires non-permanent resident immigrants, including expatriates on most work visas, to cover their own healthcare expenses. Individuals planning to relocate to Australia should secure personal global health insurance coverage in advance for this purpose.
2. What is the most suitable insurance for international students in Australia?
Overseas Student Health Cover (OSHC) was created by the Australian government to aid foreign students who require medical and hospital treatment during their studies in Australia. This healthcare cover is available for international students without access to Australian Public Health Care.
3. What is the cost of health insurance for international students in Australia?
The price of OSHC fluctuates according to the type of coverage needed. A 12-month individual minimum cover starts at AUD$478, couples can expect to pay $2,600 for a year’s worth of coverage and families will have to shell out $4,200 for comparable protection over the same period.
4. What is the Cost of Health Insurance for Australians?
On average, a single person pays for both hospital and additional health insurance at this cost:
- A person who is below 36 years of age can avail $3,017 annually (approximately $251 per month).
- An individual in the age range of 36 to 59 with an established status earns $3,456 annually (approximately $288 per month).
- Individuals beyond 60 years of age, who are deemed to be mature individuals – will receive an annual amount of $3,829 (equivalent to approximately $319 per month).
5. Is Health Insurance Required for an Australian Visa?
For individuals seeking a 482 or 485 visa for Australia, it is required to obtain an appropriate level of health coverage. Medibank provides Working Visa Health Cover that fully adheres to the criteria for these visas.
Although obtaining health insurance is not obligatory for 417 visas, it is still advisable to acquire coverage.
