The Benefits of Critical Illness Cover

In the event of critical illness or injury, the changes to your life may leave you traveling a path you do not know how to navigate. Trauma insurance is there to offer you the necessary financial support on your road to recovery or as you build a new life, assisting with the payments of medical treatments, rehabilitation costs, and renovations, amongst others. With trauma insurance, you will be able to minimise the effect of the illness or injury on your life.

With the assistance of various companies, Tokkie Ferreira’s brokers are able to help you to understand the difference between the available options and help you find the cover that is most beneficial to your lifestyle and financial situation. 

The following Enhanced Product Benefits will be covered in our consultations.

1.    LIVING CRITICAL CONDITIONS

Critical Illness Benefit is designed to pay a once-off lump sum when you from one of the 150 listed medical conditions. Depending on your cover option and medical condition, you can receive a once-off lump sum of up to R6 million, tax free, to assist you when you need it most.

2.    LIVING PROGRESSIVE CARE

This benefit allows you to make multiple claims, based on the severity of your illness or injury. This means that as long as your condition falls within the 4 main categories, Cancer, Heart Attack, Arteries and Strokes, you will be able to claim more than once if your situation requires it. 

3.    STANDALONE CONVERSION FACILITY

Your broker can assist you in converting a standalone critical illness benefit into accelerated cover with an amount of Life Cover, without any additional medical evidence. The applicable terms and conditions will be explained to you by your broker.

4.    PREMIUM CONVERSION FACILITY

Before reaching the age of 65 years, policyholders have the option to convert their policies to level premium structure if they are not on a premium pattern already, without further medical underwriting.

5.    FUTURE INSURABILITY FACILITY

This benefit enables you to increase the cover amount when you wish to. While limits and conditions do apply, and increases in cover do result in increased premiums, Tokkie Ferreira’s brokers will help you guide you through the process and get the most benefit if you choose to increase your cover.

We cannot predict the future, but we can help you prepare for it as best as possible.

This article is a general information sheet and should not be used or relied upon as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice. Errors and omissions excepted (E&OE)