Cover The Basics

Women's Health (South Africa) - - HEALTH -

While th­ese plans are sim­i­lar, they don’t over­lap and will en­sure that you and your fam­ily are fi­nan­cially se­cure, what­ever the out­come.

LIFE COVER “Life cover should al­ways be in place to en­sure that you ad­e­quately cover any fi­nan­cial short­falls your debt may leave, as well as to en­sure that your loved ones are ad­e­quately pro­vided for,” says Morkel.

DISABILITY COVER This will en­sure that your abil­ity to support your fam­ily and your lifestyle is pro­tected in the event that you’re no longer able to work, ex­plains Morkel.

AD­DI­TIONAL COVER If you have the means, you should also con­sider adding se­vere ill­ness (aka dread dis­ease) cover, which will pay you a lump sum in the event you’re di­ag­nosed with a se­ri­ous ill­ness, but are still able to work, and an in­come pro­tec­tor, which will pay you a monthly “salary” if you’re un­able to work.

It’s Not Too Late Al­ready di­ag­nosed – and don’t have any of the above? Don’t freak out. “Depend­ing on the stage of can­cer and your re­sponse to treat­ment, numer­ous forms of cover can still be con­sid­ered,” says Morkel. “Although ev­ery case is unique, once some­one is in re­mis­sion, an in­surer would con­sider whether or not it’s able to of­fer life cover and disability at an in­creased premium risk – or even at stan­dard rates.” Yes, it’s true that in the past some­one with a his­tory of can­cer wouldn’t be con­sid­ered for se­vere ill­ness cover. But the good news is that this year San­lam launched a unique prod­uct in which can­cer and car­dio­vas­cu­lar (CVS) dis­ease benefits are stand-alone prod­ucts. Plus, CVS se­vere ill­ness cover is avail­able to cer­tain groups of can­cer pa­tients as well.

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