[LISTEN] Four major illnesses dreaded disease plan covers
Certified financial planner Paul Roelofse says when taking life cover, over can add on ancillary benefits which cover other sorts of life-changing events.
He says it is crucial to understand the terms and conditions for taking a severe illness cover.
Speaking to Refiloe Mpakanyane, Roelofse says the main diseases covered by the severe illness benefit are heart attack, stroke, cancer and coronary artery bypass systems.
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The understanding is essentially is to say if I have one of these major dreaded diseases, I will then receive a capital lump sum from my life insurance which will be set up to support me during my recuperation or my recovery.Paul Roelofse, Certified Financial Planner
In the event of a heart attack, you will be paid the severity of how that heart attack is determined by the underwriters. If it is mild, you won't get 100% of your severe cover you will get a smaller percentage.Paul Roelofse, Certified Financial Planner
Be very careful about your contract, understand the t's and c's. You don't always get a 100% payout, it depends on the severity of your dreaded disease.Paul Roelofse, Certified Financial Planner
Listen to the full interview below...
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