Managing a disability claim isn’t just about the money—it’s about the process. In our previous post, we looked at the financial gap during the waiting period. Now, let’s talk about the governance backbone that ensures the claim actually succeeds. Many disability claims fail not because the employee isn’t sick, but because the paperwork was filed late or incorrectly. As an HR manager, your goal is to make the process “boring”—because in disability management, boring is beautiful. […]
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Critical Illness vs Medical Aid
Do You Really Need Critical Illness Cover if You Already Have Medical Aid? You might think that having medical aid is enough, but let’s talk about critical illness cover and why it could still be essential for you. What is Critical Illness Cover? Critical illness cover, also known as severe illness or trauma cover, provides a tax-free lump sum if you’re diagnosed with a serious illness covered by your insurer. Thanks to medical advancements, more people […]
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Medical Aid vs Dread Disease Cover
If you are paying for both Medical Cover and Dread Disease Cover… you may ask yourself why? The cost of living keeps rising and in the year ahead we can expect more increases that will put pressure on our hard-earned and diligently saved resources. This doesn’t have to be bad news – it can encourage us to improve and tailor our financial planning to meet the changes and test our flexibility! That means going back to […]
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Cancer claims reveal risk trends
Recent statistics made available by Liberty Life reveal that cancer is the leading cause of claims paid by the assurer in 2015. One in four claims paid by Liberty were for cancer, and the proportion of claims for cancer is increasing, even at younger ages. Motor vehicle accidents are typically cited as the reason that young people need disability or income protection cover, but cancer was a greater cause accounting for 12.3% of claims (motor vehicles […]
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5 MORE FACTS ABOUT HOSPITAL PLANS
As I wrote in a previous article, full medical cover has become an expensive purchase that few South Africans can afford. As we see a significant increase in the purchase of hospital plans, we are also seeing a decrease in how much our clients fully understand the big differences between an old-school medical aid and the intuitive products of today’s marketplace. Having come from a generation that largely understood medical cover as a ‘covers all’ policy, […]
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5 FACTS ABOUT HOSPITAL PLANS
Full medical cover has become an expensive purchase that few South Africans can afford. This is the reason for the increased popularity of hospital plans that cover your medical bills if you are hospitalised. Having come from a generation that largely understood medical cover as a ‘covers all’ policy, it’s important to run through these five facts about hospital plans that are overlooked until they are needed! You usually need to be hospitalised for the hospital […]
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PLAN FOR THE HIDDEN COSTS OF BREAST CANCER
Last year I shared an article on my blog that spoke to the stark reality of the tragic impact that cancer has had (and continues to have) on almost every family in South Africa. It’s very rare, in fact, to meet someone who hasn’t either had cancer themselves, or has a close family member who has been diagnosed with some form of cancer. As I wrote in my previous blog, cancer has increased exponentially and is, […]
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CRITICAL ILLNESS | ARE YOU SUFFICIENTLY COVERED?
Women submit more critical illness claims than men. RISKSA published an online article that shed some light on an area of financial planning that appears to be largely overlooked, or at least, underestimated. A key consideration for every financial portfolio is to insure your most valuable asset – your ability to earn an income. Traditionally this lot has fallen to the ‘man of the house’ to earn an income. Although this notion is seriously outdated (by […]
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