405 Investor Retirement Visa Health Insurance
Welcome to OVHC Insurance, your go-to online comparison tool for finding the right 405 visa health insurance provider for your circumstances. If you're a self-funded retiree looking to live in Australia during your retirement years, count on us to guide you to the best health insurance policies.
Our platform allows you to compare the offerings of Australia's seven main health insurance companies, helping you find the best fit for your needs. With OVHC Insurance, purchasing health insurance for your 405 visa has never been easier.
Begin your journey to secure health coverage today.
Who Is Eligible For A 405 Australia Investor Retirement Visa?
The 405 Australia Investor Retirement Visa is for individuals aged 55 or older seeking retirement in Australia. Eligibility requirements include:
- Applicants must be at least 55 years old, while their partner can be of any age.
- Eligible applicants must not have dependents other than a partner.
- Financial requirements include an annual income of at least AUD65,000 (or AUD50,000 for regional areas).
- Applicants must also make a designated investment of at least AUD750,000 (or AUD500,000 for regional areas) in Australia.
This visa typically grants temporary residency and may be valid for up to four years, with renewal options available.
Health Insurance Requirements For The 405 Visa
As per the 8501 condition, individuals holding the 405 Investor Retirement Visa must obtain Overseas Visitor Health Cover (OVHC) while residing in Australia. OVHC ensures that visa holders have access to necessary medical services during their stay and helps cover hospital treatment costs and medical emergencies.
It is imperative for 405 visa holders to purchase suitable OVHC to fulfil visa requirements and safeguard their health and well-being while in Australia. The OVHC should cover at least 85% of hospital, emergency, and general practitioner services and pharmaceuticals. Given these strict requirements, comprehensive OVHC is typically recommended for visa holders.
Why Choose OVHC To Compare Health Insurance For 405 Visa Holders
Gain peace of mind for your 405 visa journey with OVHC Insurance. Meet your visa requirements, receive your policy quickly, and easily compare all seven OVHC providers online.
Meet Your Visa Requirements
Comply with your 8501 visa requirements by selecting Overseas Visitor Health Cover (OVHC) through OVHC Insurance. We compare six comprehensive health coverage providers that ensure adherence to Australian 405 visa conditions.
Policy Received Within Minutes
Experience a quick application process with OVHC Insurance. Apply online and receive your OVHC certification within minutes, or have it posted within 24 hours.
Easy To Use & Compare Online
OVHC Australia simplifies the process by allowing you to compare all six OVHC providers online. Save time and money with our comprehensive comparison tool.
Compare Health Insurance For The 405 Visa & Receive Your Policy Certificate Today
Ready to secure health insurance for your 405 visa? Compare now with OVHC Insurance and receive your policy certificate today. Meet your 405 visa health insurance requirements and enjoy peace of mind during your stay in Australia.
Frequently Asked Questions
Do I Need Health Insurance For A 405 Visa?
Yes, health insurance is mandatory for 405 visa holders under the 8501 condition. Maintaining Overseas Visitor Health Cover (OVHC) is essential to comply with visa regulations and secure access to comprehensive healthcare services during your stay in Australia.
What Is The 8501 Condition?
The 8501 condition mandates that individuals holding certain visas, including the 405 visa, must maintain adequate health insurance during their stay in Australia. This condition ensures visa holders have access to necessary healthcare services and minimises the burden on Australia's public health system.
What Is The Minimum Health Coverage Needed For 405 Visa Holders?
For 405 visa holders, adequate health insurance coverage is crucial to avoid financial responsibility for healthcare debts incurred in Australia. Medicare access is typically unavailable, making visitors liable for all hospital, medical, and para-medical costs.
Overseas Visitor Health Cover (OVHC) is essential to provide coverage for unplanned medical and hospital care. While OVHC products vary, they may not cover all healthcare needs, so selecting a suitable policy is essential. Even with insurance, individuals may still be responsible for healthcare costs and should seek informed financial consent before treatment.