What is the difference between for profit and not for profit?
The main difference is that for profit health insurers have shareholders that are paid dividends from the profits made during the year, whereas not-for-profit insurers like Frank aren’t here to make money for investors. We’re here to look after our members, so when we make a profit, it’s used to benefit members, through lower premiums and investments for the future.
What are the benefits of Not-for-profit health funds?
Because we exist for you, not for shareholders, we offer benefits like:
- Lower premiums
- More back on claims
- Freedom to choose your own provider
- Great customer service, so you’ll be more satisfied.