Why You Need Dread Disease Cover
October 30, 2013
Why do you need dread disease cover and how can it help you?
Dread disease cover is an integral part of life insurance and the benefits it provides. The cover could help you sustain your quality of life and care for your family.
What is life insurance?
It is a form of insurance provided by life insurance companies that insures your life against the risk of death. The cover normally pays out a lump sum in the event of your death. Death is an integral part of life but with a life policy you will have peace of mind that your family’s financial needs are covered.
Life cover now includes additional cover like, dread disease, disability, funeral and loss of income.
What is and why do you need dread disease cover?
Dread disease cover is part of the life insurance you acquire. It covers you for a lump sum of money should you contract a dread disease. These diseases can include heart attacks, heart surgery, stroke and cancer to name but a few. The amount of cover your will receive depends on the cover you purchased and the severity of the disease.
Dread diseases have a way of incapacitating the carriers for an extended periods of time; the cover you receive will provide you with the addition funds to:
• Pay for additional medical expenses.
• Recover from loss of income.
• Have money available while you recover and might not receive a constant income as result.
• Pay for additional medical equipment and counselling needed.
• Ensure you that your family will survive financially should you not recover well enough to return to work.
Some cover even goes as far as covering some of your business’s overhead costs while you recover.
A wise option is to consider buying additional disability cover in conjunction with your dread disease cover. This will ensure that you also receive a lump sum pay out in the case of disablement as a result of the dread disease.
There are insurance companies in the market that add additional dread disease and disability cover to their hospital and medical aid insurance options. This is an option you may well consider if you do not have the finances available to acquire both life and medical cover. Even though these medical policies do not include life cover you will at least have cover for hospitalization costs, dread diseases and disability.
Why do you need dread disease cover?
Dread disease cover is essential in cases of owner run businesses and self employed individuals where you will be covered for loss of income during the time you recover from the disease. The lump sum you receive can also be used to cover any additional medical costs acquired during your diagnosis, treatment and recovery and can be used to keep your family financially stable in an economy where every cent counts.
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All info was correct at time of publishing