Value for Money
1Value for Money
Older dos discriminated against by Medibank
Have 2 dog insured by Medibank , or should I Say HAD 2 dogs insured,,,, I Just cancelled my 2 dogs membership because their premium jumped again by another 20% to be a combined $2,005.67 for One 8 year old dog and a 9 year old.
The 9 year old dogs last premium was $1110.87, this only covered him for an overall total of $12,000 claimable, and even within this $12.000 total they have 2 sub limits that limit the claimable amounts so Medibank is charging us almost 10% if its yearly insured amount in premiums. I pay about the same premium on the $12,000 Medibank pet insurance as I pay to insure a $40.000 car and only a little more to insure $600.000 home, How can this be ???
I Signed up about 4 years ago with the two dogs combined annual premiums then where about $800 . Although the premiums where a little on the high side we thought we would get in early before the dogs where too old to insure, and we had 100% claimable rate at that time but After about 2 years they dropped the claimable rate down to 80% combined with a big increase in premium as well . Each year they have increased the premiums by an average of about 20% compounding.
When we signed up, we were not told that premiums would increase on average 20% compounding and that in 4 years’ time would be asked to pay more than two and a half times our initial costs. If I had known this at the time I would never have taken the policies out, I believe we were misled and Medibank Deliberately inflates their prices on older pets to make it impossible to insure older animals, in that way they only have younger pets insured hence fatter profits.
So in summary, I have been asked to pay almost 250% more than I was charged for years ago and receiving 20% less than was agreed to when I first signed up , And now that my dogs are older and really need their insurance I have been deliberately priced out of Pet insurance due to excessively high premiums
What a RIP OFF
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