Critical Illness Cover

critical illness

Posted by Casey

Additional Medical Expenses | Covid-19 | Critical Illness | Life Insurance | Medical Aid | Weekly Report

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August 4, 2021

It helps pay for additional medical expenses and lifestyle adjustments.

Surviving a critical illness isn’t easy, but with the right cover, you can focus on recovery - instead of the medical bills. Critical illness cover offers financial protection against illnesses such as a heart attack, cancer, stroke, Alzheimer’s and Parkinson’s disease. It also covers injuries from accidents such as paraplegia, major burns, and brain damage.

This cover pays out a lump sum amount that you can use to pay for additional medical expenses and lifestyle adjustments.

Do I need critical illness cover if I have medical aid?

Consider how you will pay for extra costs not covered by your medical aid.

Advances in medical care mean that people can now survive illnesses once thought to be fatal. Although many people lead relatively normal lives after suffering a critical illness event, you may require financial assistance to cover any lifestyle changes or extra costs not covered by your medical aid.

Medical aid schemes provide decent cover while you’re in the hospital. The problem starts with your out-of-hospital expenses and chronic medication and typically medical aids don't cover cutting-edge experimental treatments. Heart diseases, stroke, and cancer may leave you with a huge financial burden, even if you're on a relatively good medical aid.

 

How much critical illness cover do I need?

Generally, you should get the most cover you can afford.

Because the financial impact of a critical illness will vary from person to person, there is no scientific way to determine the benefit amount of a critical illness benefit. You should get the most cover you can afford. By adding Longevity Protector™ - critical illness benefit to your critical illness cover you can ensure that your cover will never run out, no matter how long you live with a critical illness.

What am I covered for?

Momentum offers you complete protection spanning the whole body.

Apart from the big four namely cancer, heart attack, stroke, and coronary artery bypass graft, the critical illness benefits cover numerous other life-changing conditions.

What conditions are covered?

  1. Cancer.
  2. Cardiac and arterial system e.g. Heart attack.
  3. Connective tissue disease e.g. Rheumatoid Arthritis.
  4. Ear, nose and throat system e.g. Loss of speech.
  5. Endocrine and metabolic diseases e.g. Diagnosis of type 1 diabetes.
  6. Digestive system e.g. Chron's disease or ulcerative colitis with recurrent surgery.
  7. HIV and Aids.
  8. Major burns.
  9. Muscles, bones and joints e.g. Hip joint replacement.
  10. Brain and nerves e.g. Motor neuron disease.
  11. Lungs and breathing e.g. Respiratory failure.
  12. Severe aplastic anemia.
  13. Terminal illness e.g. Chronic lung problems.
  14. Trauma e.g. Coma.
  15. Kidney and urinary tract e.g. Kidney failure.
  16. Visual system e.g. Total and permanent loss of sight in one or both eyes.

Key benefits

Critical illness cover for children:

Automatically covers your children from birth until they are 18 years old. This benefit amount equals 10% of the parents’ benefit amount and is limited to R250 000 per insured parent.


Catch-all benefit:

Covers you for conditions that may not be covered under a particular category, but would qualify as a result of the severity of the impairment it causes.

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