So you’ve got a medical aid policy. Good for you – that’s one better than a hospital plan – but do you have sufficient cover for your needs? Have you read the small print in your package?
If you’re young and healthy, you can probably get away with basic cover, but these days even the fittest people can be afflicted by sudden, debilitating illness.
Adding health insurance to your investment portfolio can protect you against those unpleasant surprises that have a way of eating away at your nest egg.
Think about how you will cope if you are diagnosed with a critical illness like cancer or suffer a heart attack or stroke. If you’re lucky, you’ll beat it and recover quickly; if you’re not, you’ll have some serious financial challenges on your hands.
Health insurance quotes can be secured online, saving you time and money by avoiding the need to deal with a middleman or broker. You can generate your own quote in less than a minute, and buy the policy in only five.
If you’re between the ages of 20 and 60 years old, cover is guaranteed until age 65. It’s as simple as that. You don’t even need a medical examination.
You can secure a more general health insurance option, like critical illness cover, also known as dread disease or trauma cover, or something more specific like cancer cover. Critical illness cover will provide funds for treatment, loss of income and attributable lifestyle changes while cancer cover can give you as much as R3 million extra, which goes a long way in the treatment of an aggressive cancer in particular.
You have the option to extend cover, and either you or your spouse can make the payments.