Lifetime health cover loading for over 50's

[Jonleahy]

Hi Folks

Looking for opinions / discussion regarding the Lifetime health cover ( LHC ) loading.

I suppose I got caught out in a way, by not fully researching the LHC. I'm interested in other peoples opinion on it

I listened and I suppose trusted sales people a little too much, When I moved to Adelaide from the UK I had just turned 50, I was aware of the loading but didn't fully research what it applied to.I took out 'extra's' cover for my family and myself as it seemed to be the most relevant to us and the sales people were happy to tell me that I would avoid paying the LHC loading, What I didn't realise is that the loading doesn't apply to the extras policies but to the hospital cover policies.

Any way so what I would like is other peoples opinion as to weather they think the loading is really an incentive, ( I believe it was introduced as ), or is it in practice a deterrent

My situation is now that if I decided to take out hospital cover I would have to pay a 42% loading not for one year but for 10 years???  This is very unlikely to happen.

My wife who currently has hospital cover with 8% loading, the sales people now are telling me if we now take out family cover the loading is spread out so it is 25% each?? I'm not really sure what benefit over 10 years that is to either of us.

Is it at all possible that this is going to change anytime soon?

Thanks 

Jonathan