Insurance cover continues to remain a subject matter that's very overwhelming to most individuals. Insurance policies often ends up on the "I will do it later" list, rather than the "Important things I must do today" checklist. By learning the several types of insurance, which range from short term insurance to long term insurance, as well as variables such as health plans, disability plans and also terminally illness plans, it will be easier to make an educated and educated choice on the best types of insurance coverage for your needs and requirements.
One of the main reasons behind the frustration might simply be the various phrases that are used for the exact same product. Let's use health plans as one example. Health plans can also be called health cover or a health insurance policy, and then it can be further labeled as health cover for critical illness, health cover for cancer etc. And even the subcategories such as critical illness cover, can be classified as dread disease cover or trauma cover. Quite complicated, don't you think?
The most effective way to determine which health plans you need to investigate, is by reversing the matter a bit. Quite simply, instead of taking a look at the available plans and policies hoping to determine which policy will suit your needs and requirements best, first review your needs and requirements, and then start looking for a policy that offers what you are seeking. Quite simply, if you are frightened of the possible cost implications that being diagnosed with cancer will bring about, you can obtain health cover for cancer. Did you know that 1 in 6 South Africans will get cancer at some time during their lives? Even if you have medical aid in place, the associated costs with cancer treatments can be quite unbelievable and not all medical aids can cover everything.
The visible difference between health plans and medical aids is the following: With a medical aid you have a certain amount available for medicine, treatments, surgical treatments etc. This differs from one plan to the next, but might include a specific amount for visits to the dental professional, another amount for visits to the eye doctor and possibly a savings account for medicine and visits to your local medical doctor. Once these money is depleted, they are depleted and you have to pay for the balance out of your own pocket. Health plans on the other hand, make funds available which you can then apply in places that you need to. If you are diagnosed with an illness such as our cancer example, you might not be able to work and earn an income, and while your medical aid might cover a lot of your treatments costs, you will require additional money to make up for the loss of income, your associated changes in lifestyle etc. The next time you meet with your broker or agent, remember to discuss the different health plans available and invest in one that would meet your requirements best.
One of the main reasons behind the frustration might simply be the various phrases that are used for the exact same product. Let's use health plans as one example. Health plans can also be called health cover or a health insurance policy, and then it can be further labeled as health cover for critical illness, health cover for cancer etc. And even the subcategories such as critical illness cover, can be classified as dread disease cover or trauma cover. Quite complicated, don't you think?
The most effective way to determine which health plans you need to investigate, is by reversing the matter a bit. Quite simply, instead of taking a look at the available plans and policies hoping to determine which policy will suit your needs and requirements best, first review your needs and requirements, and then start looking for a policy that offers what you are seeking. Quite simply, if you are frightened of the possible cost implications that being diagnosed with cancer will bring about, you can obtain health cover for cancer. Did you know that 1 in 6 South Africans will get cancer at some time during their lives? Even if you have medical aid in place, the associated costs with cancer treatments can be quite unbelievable and not all medical aids can cover everything.
The visible difference between health plans and medical aids is the following: With a medical aid you have a certain amount available for medicine, treatments, surgical treatments etc. This differs from one plan to the next, but might include a specific amount for visits to the dental professional, another amount for visits to the eye doctor and possibly a savings account for medicine and visits to your local medical doctor. Once these money is depleted, they are depleted and you have to pay for the balance out of your own pocket. Health plans on the other hand, make funds available which you can then apply in places that you need to. If you are diagnosed with an illness such as our cancer example, you might not be able to work and earn an income, and while your medical aid might cover a lot of your treatments costs, you will require additional money to make up for the loss of income, your associated changes in lifestyle etc. The next time you meet with your broker or agent, remember to discuss the different health plans available and invest in one that would meet your requirements best.
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