As much of a cliché as it is, life really is short. None of us know what curveballs will be thrown at us and living a healthy life isn’t always a given. Dread diseases can happen to anyone at any time. That’s why dread disease cover is one of the most important health policies.
Dread Disease Cover: How it Works and Why you Need It
Also known as a critical illness policy, dread disease policy pays out a tax-free lump sum in the event of falling ill with a major disease. The statistics state that people are more likely to fall ill with a dread disease than become disabled or die prematurely. There are many illnesses that can be life-threatening and are covered by a critical illness policy. Some examples include cancer, strokes, coronary artery by-passes, blindness, deafness, heart attacks and organ failure. Our expert brokers can provide you with a complete list of conditions that are covered under this policy and give you detailed information on each disease and what it entails.
By taking out this policy, you’re well positioned to protectyour family from unnecessary financial strain. If you do fall ill, your only focus and concern would be to get better.
If you are already ill and apply for dread disease cover, you might not be covered. That’s why it is important to take out this type of policy before anything happens to you.
Your health is in your hands. If you do anything to jeopardise your own health, you won’t qualify for a pay-out.
Why do I need dread disease cover?
The purpose of dread disease cover is to provide you and your family with financial relief should you receive a diagnosis from your doctor. Afterwards, the money that is paid out to you can be spent how you see fit. You can use it to pay off the medical expenses, make any lifestyle changes, settle debt, contribute towards home care or travel costs if treatment is only available abroad.
Many diseases are linked to old age. For this reason, many insurers will give you the option of taking out
dread disease cover for the duration of your life. It’s important to note that dread disease cover is separate from disability cover. Ideally, everyone should invest in a dread disease cover as well as disability cover in the event that disability occurs from the disease.
When should I take out dreaded disease cover?
Dread disease cover can be expensive. Much like life insurance, it is always better to take out this policy when you are young, so that your monthly premiums are more affordable.
If you’re unsure of the small details and fine print, it would be best to speak to a professional broker. Here at Compendium, we want to make sure you are well aware of all the important information and will assist you with a variety of options to choose from. We’ll also gladly answer any of your questions, ensuring your peace of mind.
Contact one of our advisors on 087 724 9390 today to safeguard your family from financial burden.