dread disease
Understanding exactly how your benefit is structured is important as it generally impacts on your other long-term insurance benefits. At the outset, it is essential to know whether your benefit is a standalone or supplementary benefit, or whether it is
When contemplating taking out dread disease cover, give consideration to the level of medical aid cover you enjoy. Remember, the purpose of dread disease cover is to provide you with financial assistance in the event of diagnosis to help with
As a lump sum payout, dread disease cover is designed to provide financial relief soon after diagnosis of a severe illness. Once the claim has been paid, you are free to use the money as you see fit.
Crafting a sold financial plan involves undertaking careful scenario planning and then putting mechanisms in place to protect yourself from possible detours. Life’s ‘detours’ include events such as retrenchment or job loss, divorce, terminal illness, significant loss or damage to
Be sure to check the term of your policy. Death benefits can be purchased for a fixed term, such as ten or twenty years, or for whole of life. Similarly, some benefits, such dread disease and disability cover, cease at
Many employees make the dangerous assumption that this cover is sufficient for their needs and adequately protects them in the event of death or disability.
Now is a good time to check the beneficiary nomination on your policy as this can affect how, when and to whom the claim is paid out. If you have nominated your estate as the beneficiary on your policy, the
Think disability and our minds tend to think of the worst possible scenarios involving permanent injury and disfigurement. Rather than permanent disability, it is temporary disability or illness that we should in fact be more concerned with.
