Dread Disease Cover

As a woman who was diagnosed with Multiple Sclerosis a few years ago, I cannot stress the importance of dread disease cover enough.

Many years ago, I had the privilege of hosting Dr Marius Barnard as the guest speaker at a function for my then clients. Yes, he and Dr Christiaan Barnard, famed for the first successful heart transplant, were brothers. He emphasised the fact that if you did not die from a dread disease like stroke or heart attack, and all the other illnesses on the list, then the financial impact of the disease would cripple you anyway if you did not have the funds to pay for treatment.

What Is Dread Disease Cover in South Africa?

Dread Disease Cover is a type of insurance policy that provides a lump sum payment if you are diagnosed with a specified serious illness or medical condition. It’s designed to help cover the financial impact of major health issues, giving you funds to manage medical costs, lifestyle changes, or loss of income.

Common Conditions Covered

Typical “dread diseases” include:

Cancer
Heart attack
Stroke
Kidney failure
Major organ transplant
Paralysis
Multiple sclerosis
Coronary artery bypass surgery

The exact conditions covered depend on the insurer and policy terms.

Why Consider Dread Disease Cover?

Financial support: Helps pay for treatment, rehabilitation, or modifications to your home.
Income replacement: Provides funds if you’re unable to work during recovery.
Peace of mind: Gives you financial stability when facing a critical illness.

How Does It Work?

You pay regular premiums to keep the policy active.
If diagnosed with a covered illness, you submit a claim with medical proof.
Once approved, the insurer pays a lump sum, which you can use however you need.

Things to Know

Waiting periods: Some policies have a waiting period before coverage begins.
Definitions matter: Insurers have strict definitions of covered illnesses — make sure you understand what qualifies.
Not a replacement for medical aid: This cover supplements medical aid but does not pay for routine medical expenses.

Final Thoughts

Dread disease cover offers vital financial protection against life-altering illnesses, helping you focus on recovery instead of finances. Always read the policy details carefully and compare options before choosing cover.

Adult male with heart attack or heart burn condition, health and medicine concept

By suletta - Get Financial Savvy

Welcome to Get Financial Savvy Little did I know when I enrolled for my postgraduate qualification in Financial Planning that, within a year, I would be diagnosed with a dread disease. I almost gave up on the idea of completing the course, fearing that the added stress might worsen my multiple sclerosis. But a wise client — a professor at Groote Schuur Hospital — encouraged me to put my shoulder to the wheel and just do it. Two years later, after many relapses, I had no choice but to stop working. My neurologist was concerned about the frequency of these relapses, and as with most autoimmune conditions, stress played a major role. I stopped working at the same time the world was hit by COVID-19. At first, I didn’t feel “left out,” since everyone else was confined too. But now, five years later, I’m grateful to be in a remission phase — and ready to start a new chapter. Encouraged by my friends and family, I’ve decided to share my knowledge of financial planning and help demystify the legal and technical terms that can feel so overwhelming. My journey into the world of finance began decades ago, translating a rate book from English to Afrikaans for National Mutual — long before computers were introduced in South Africa. That experience gave me a strong foundation, teaching me the basics of every financial product word by word. Over the next 40 years, I built a career as a financial advisor, received numerous awards from various insurers, and had the privilege of working with incredible clients and dedicated administrative staff. I hope you’ll enjoy the building blocks and bits of wisdom I’ll be sharing — real-life lessons, stories, and insights gathered from a lifetime in the world of finance.

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