What is Critical Illness Cover?

Critical Illness Cover

It helps pay for additional medical expenses and lifestyle adjustments.

Surviving a critical illness isn’t easy, but with the right cover, you can focus on recovery – instead of the medical bills. Critical Illness Cover offers financial protection against illnesses such as a heart attack, cancer, stroke, Alzheimer’s and Parkinson’s disease. It also covers injuries from accidents such as paraplegia, major burns, and brain damage.

This cover pays out a lump sum amount that you can use to pay for additional medical expenses and lifestyle adjustments.

Do I need Critical Illness Cover if I have medical aid?

Consider how you will pay for extra costs not covered by your medical aid.

Advances in medical care mean that people can now survive illnesses once thought to be fatal. Although many people lead relatively normal lives after suffering a critical illness event, you may require financial assistance to cover any lifestyle changes or extra costs not covered by your medical aid.

Medical aid schemes provide decent cover while you’re in the hospital. The problem starts with your out-of-hospital expenses and chronic medication and typically medical aids don’t cover cutting-edge experimental treatments. Heart diseases, stroke, and cancer may leave you with a huge financial burden, even if you’re on a relatively good medical aid.

How much Critical Illness Cover do I need?

Generally, you should get the most cover you can afford.

Because the financial impact of a critical illness will vary from person to person, there is no scientific way to determine the benefit amount of a critical illness benefit. You should get the most cover you can afford.

Source : Momentum

About the Author

Charl Oosthuizen
Independent Financial Advisor / Onafhanklike Finasiële Adviseur Ultrafin Finansiële Oplossings (Edms) Bpk / Financial Solutions (Pty) Ltd FSP 35757 Cell: 083 377 1441 | Fax: 086 617 8137 | Tel: 086 111 4602 Besturende Direkteur. Charl is sedert 1990 betrokke by versekring. Verantwoordelik vir oorhoofse bestuur van maatskappy, met spesifieke fokus op die Kort Termyn Afdeling as ‘n boer in murg en been lê die landbou vir Charl baie na aan die hart. Dus vorm Agri Versekring en gepaardgaande NIS produkte ‘n belangrike deel van Ultrafin se Potefeulje.

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