Getting the Right Insurance Key Questions and Answers | Nhlamvana BlueStar | Sanlam Financial Planners Newcastle

Insurance

Getting the right insurance for illnesses: Key questions and answers

Serious illness brings hidden financial challenges beyond medical costs, such as loss of income and the need for home care. Medical aids often fall short, but the right insurance – life, disability and critical illness cover – can safeguard your financial stability and lifestyle.  Below are key questions and answers to help you choose the best insurance to protect yourself and your loved ones.

Why is insurance important during illness, especially when dealing with a serious disease?

While your medical aid may cover some costs of diagnosis and treatment, it often falls short. Medical aids don’t fully cover unexpected financial impacts such as unpaid leave for recovery, or help with daily tasks. Insurance can fill these gaps, helping cover costs related to home care, childcare or loss of income.

What type of insurance should you consider if you’re taking precautions and don’t have cancer?

Start with life cover to address any financial shortfalls, such as debt or dependants’ needs. Disability cover is essential to protect your income if you can no longer work. Consider critical illness or severe illness cover to offset the financial impact of serious health conditions.

What insurance is necessary if you have cancer?

Even after a cancer diagnosis, insurance options remain available, depending on your response to treatment. Once in remission, insurers may offer life or disability cover, though often at higher premiums. Severe illness cover, which was previously denied to cancer survivors, may now be considered by insurers.

Why is it important to have these types of cover?

Having insurance safeguards your financial stability and ensures you can maintain your lifestyle during and after treatment. This protection is vital for ensuring a holistic approach to managing illness, as it covers both medical and non-medical expenses, allowing for a better recovery experience.

Contact your Sanlam Financial Adviser to find the right insurance cover for you.

Sanlam Life Insurance Limited is a licensed life insurer, an authorised financial services provider and a registered credit provider (NCRCP43).

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