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In this interview https://soundcloud.com/user-768186920/heart-to-heart-11-mar-why-disability-or-dread-disease-cover-is-important, we talk about Disability and Critical Illness. It is important to understand these insurance covers so you can even work out for yourself if you need them, how much you are likely to need, etc…
 
What is Disability cover?
Insurance defines DISABILITY as an event, either illness or major accident, that has an impact of affecting your ability to do your job
EXAMPLE 1 if you need your hands to do your job and you lose your hands in an accident then it means you are no longer able to do your job. BUT
EAMPLE 2 If you lose your legs and you are a teacher, you could still teach while on a wheelchair so that would not be considered disability
 
EXAMPLE 3. If you did not lose your hands but you are unable to use your hands because you suffered a stroke as an example, then before your disability cover is paid out, you would have to undergo all possible treatment, at your own cost, to try and resolve the disability and if everything fails and you are still unable to recover use of your hands then you can be declared disabled

• Can pay a Lump Sum based on what you signed up for or even a Monthly pay
• Depending on the disability cover you took, you could be asked to do an alternative job if you took Disability for regular or alternative occupation. So if you are a surgeon and you need full use of your hands to operate on your patients, you could then be asked to rather lecture medical students if you lose your hands

Is it important to have Disability Cover?
YES especially because we really don’t know what could happen in the future
When you buy a HOME, banks also require that you have sufficient disability cover to pay off your home loan in the unlikely event that you become disabled while you are still paying for the home loan

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What is dread disease / critical illness cover?

This covers serious illnesses e.g. Cancer, strokes, heart attacks, – the list is endless and I cannot even pronounce some of the illnesses. The TEST here is have you suffered such an illness, and if the answer is YES, then there could be a follow up question on the severity level e.g. Cancer has 4 stages and depending on your critical illness cover, you could get paid 100% if it is in the FINAL stage or as low as 25% if it is EARLY stage. Many people have suffered from cancer and recovered fully and got paid out because they had cancer. It does NOT matter whether the illness impacted your ability to work or not.

Note that some of the illnesses run in the family hence the earlier you take your cover, the better because once you suffer from the illness, insurance companies would give you cover but would Exclude that particular illness.

Be careful of weight gain and smoking, they lead to higher insurance premiums. Getting a regular exercise could help many people to avoid high blood pressure which often leads to strokes

Is it important to have critical illness cover?
YES, the number of people suffering from cancer and strokes is high

If you want Life cover, Disability cover or Critical Illness cover, email info@thuthuka-sa.co.za

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