[bigger_cheese]

One thing I don't like about the Australian system is I think it is wasteful in someways. For example under my private cover I'm subsidized for ~$300 a year in optical expenses (split between lenses and frames).

From anecdotal conversations I know there are many people who purchase a new pair of glasses every year just because the system is basically set up to encourage this which smells like very wasteful consumption to me. I don't need a pair of glasses every year. I have gone through 3 sets of glasses in 15 years.

If I wanted to I could opt to exclude optical from my cover and save some money every month but then I'd worry about what happens if I lose my glasses or sit on them and I'd end up out of pocket so I keep paying for optical cover I don't use and feel like a sucker every year for not taking advantage of subsidized glasses.

Same thing with trips to dentist I know people who insist on general dental (unnecessary cleaning etc) because they are subsidized so they "need to take advantage to get their money's worth".

[robbiep]

I suggest you stop thinking about it as a benefit and think about what it actually is, which is insurance. My travel insurance is cheaper if I don't cover any lost property, but what if I need it? Anecdotally many young travellers who head overseas 'lose' their $1500 DSLR or their 6 year old macbook when in South America in order to make use of their $300 travel insurance

[bigger_cheese]

Agreed exactly why I pay for it. The fact it is advertised as a benefit probably contributes to this.

My insurer has gone as far as cold calling me last year "I notice you haven't been claiming any of these benefits, would you like to review your policy."