Disability Cover

Cover for the Unexpected

[vc_row][vc_column][vc_column_text]Click Here For Afrikaans[/vc_column_text][vc_custom_heading text=”Life is what happens when you make other plans. Do not be caught off-guard. ” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes”][vc_column_text]Life is what happens when you make other plans. Do not be caught off-guard. One of the important questions is: Do you have adequate disability cover?

Your greatest asset is the ability to work and earn an income. Protecting your earnings is thus a critical component of a comprehensive financial plan. In the event of a disability, you want to have peace of mind that you have evaluated all the options and made the right choice at the right time.

Disability cover comes in the form of a monthly income or a lump sum. Should you have an accident, or serious illness and become permanently disabled, you may have significant once-off expenditures that may include costs to enable you to adjust your lifestyle, prosthesis, the repayment of debt or even studying towards a new profession. These types of expenditures are usually covered by a lump sum. It could also be used to cover medical expenses, although it is advisable to have critical illness cover for those costs.

If you do have critical illness cover, it would be possible to have a multiple claim on both the lump sum disability benefit and the critical illness benefit. A claim on your disability lump sum will only be paid if the life insurer is satisfied that the condition is permanent, and only one claim will be paid. Lump sum disability cover have no waiting period.

The purpose of an income protector is to replace your income and enable you to continue your standard of living while paying your monthly obligations. It is important to understand the detail in order to choose the right option. When signing up for income protector, you have to select a waiting period and a retirement date. The waiting period is the time that has to pass before you would be able to claim, i.e. if you have a waiting period of 30 days, and you get booked of by your doctor for 40 days, you would only be able to claim for 10 days. Payment will commence after the selected waiting period expired, and will be made until the retirement date that was selected with the product provider, or when you recover.

Another important consideration in choosing an income protection benefit is to include an escalation in claim as you will need your income to increase annually with inflation.

An income protector benefit, together with a lump sum disability benefit, offers value for money, comprehensive cover and great peace of mind.

Reference
Cover Magazine: Income Protection versus Lump Sum Disability Cover: 1 November 2016[/vc_column_text][/vc_column][/vc_row][vc_row el_id=”afrikaans”][vc_column][vc_custom_heading text=”Dekking vir onverwagte voorvalle” use_theme_fonts=”yes”][vc_custom_heading text=”Dinge in die lewe gebeur, selfs al het ons ander planne gemaak. ” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes”][vc_column_text]Dinge in die lewe gebeur, selfs al het ons ander planne gemaak. Maak seker dat jy nie onkant gevang word nie. Een van die belangrikste vrae is: Het jy genoegsame ongeskiktheidsdekking?

Jou grootste bate is jou vermoë om te werk en ‘n inkomste te verdien. Om u verdienste te beskerm, is een van die belangrikste komponente van ‘n omvattende finansiële plan. In die geval dat jy dalk ongeskik sou raak, wil jy gemoedsrus hê dat jy al die moontlike opsies oorweeg het en op die regte tyd die regte keuse gemaak het.

Ongeskiktheid dekking kom in die vorm van ‘n maandelikse inkomste of ‘n enkelbedrag uitbetaling. Indien u as gevolg van ‘n ongeluk of ernstige siekte permanent ongeskik verklaar word, kan u geweldige eenmalige uitgawes hê, soos onkostes vir lewensstyl aanpassings, prostese, die betaling van skuld, en selfs kostes om te studeer indien u van beroep moet verander. Hierdie tipe uitgawes word gewoonlik gedek deur ‘n enkelbedrag. Die dekking kan ook aangewend word om mediese uitgawes te dek, alhoewel dit raadsaam is om gevreesde siekte dekking te hê vir hierdie uitgawes.

Indien u gevreesde siekte dekking het, is dit moontlik om ‘n veelvuldige eis op beide die enkel bedrag ongeskiktheid en die gevreesde siekte voordele te hê. ‘n Eis op ‘n enkelbedrag ongeskiktheid voordeel sal slegs betaal word indien die lewensversekeraar tevrede is dat die toestand permanent is, en slegs een eis sal betaal word. Met ‘n enkelbedrag ongeskiktheid voordeel is daar geen wagperiode nie.

Die doel van ‘n inkomste beskermer is om jou maandelikse inkomste te vervang en jou in staat te stel om jou lewenstandaard te behou en om jou maandelikse verpligtinge na te kom. Dit is belangrik om die besonderhede van die dekking te verstaan om die regte keuse te maak. As u ‘n inkomste beskermer uitneem moet u ‘n wag periode en ‘n aftree datum kies. Die wag periode is die tyd wat moet verstryk voordat u kan eis. Dus as jy ‘n wagtydperk van 30 dae kies en jy word vir 40 dae deur jou dokter afgeboek, sal jy net vir 10 dae kan eis. Betaling sal begin nadat die gekose wagtydperk verstryk het en sal gemaak word tot op die datum van aftrede of herstel.

Nog ‘n belangrike oorweging in die keuse van ‘n inkomste beskermer is om ‘n ‘n jaarlikse verhoging in te sluit, sodat die inkomste jaarliks aangepas word met inflasie.

‘n Inkomste beskermer, tesame met ‘n enkelbedrag ongeskiktheid dekking bied omvattende dekking, waarde vir geld en gemoedsrus.

Verwysing:
Cover Magazine: Income Protection versus Lump Sum Disability Cover: 1 November 2016[/vc_column_text][/vc_column][/vc_row]

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73 Kariba St, Lynnwood Glen, Pretoria, 0081

Telephone:

+ 27 12 348 1386

Fax:

+ 27 12 348 3706

Email:

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