Having the right kind of insurance is essential to protect yourself and your family in today’s world. That includes gap cover insurance. But what is it exactly?
You can never know what unexpected event is around the corner, even if it seems that life is going fine. Everyone wonders about this:
- What is going to happen to my family once I am not there for them?
- Would I be able to support myself and my family if I became unable to work for a medical reason?
- How will I come up with the money to cover hospital bills?
You should know that there are solutions to these problems. They can provide you and your family members with financial assistance.
These days there is insurances to cover your life, health, home, vehicle and even funeral. Plans on offer can accommodate your specific needs and offer a range of useful benefits.
The most important thing is – you should take out an insurance before an unexpected event changes your life for the worse. Few policies if any are helpful once an accident or medical emergency has taken place, as there exists a waiting period for claims.
Make your health a priority
You should invest in your health. Especially since you never know what emergency is underway.
What you can invest in
When it comes to your health, there is more than one option to invest in:
- The cover that takes care of medical fees
- Quality gap policy
Most people expect for their medical aid to foot the bill after their hospitalization our outpatient treatment. But it’s not that simple. Medical aid only covers part of the actual bill. Gap cover, on the other hand, takes care of the rest – covering the “gap” so that you don’t have to come up with the money to pay for the excess.
So many people find out about this too late. Medical cover has limitations, and no one wants to experience them first hand in an event of a medical emergency.
The truth is often brought up only after hospitalisation due to:
- Heart transplant need
- Life-threatening disease
- Unfortunate accident
It is not your fault if you assume that medical aid offers full coverage under those scenarios. It is confusing wording that is at fault. On closer inspection the fine print shows that this only includes a limited price list, and that list is not enforced.
The medical aid scheme usually pays out in accordance with this list, even though medical practitioners are at liberty to charge 5 times more. So you could be stuck with a shortfall to pay out of your own pocket.
Gap Cover – Explanation
Your gap cover policy takes care of the excess amount so that you don’t have to pay out of your own pocket. In those instances where your existing medical insurance provides only partial coverage, your gap cover will pay for the remainder.
Gap cover insurance guarantees up to 500% more than the regular medical aid scheme.
Note that to get gap cover you must be a registered member of a medical insurance. It is not a product that can be taken out on its own – it works in combination with your insurance.
There are lots of benefits that gap cover provides. You have to check which ones apply to you, in accordance with your medical insurance. If you choose a cheaper option, assuming gap cover is to cover the rest, it may not benefit you in the long-term.
The investment you make is in your healthy life and future safety of your family. So you don’t want your benefits to be limited.
It makes little difference what insurance company you pick for your medical scheme. Gap cover works well with a wide range of insurances. Apply for gap cover here.
Add you contact details to the form on this page. Then submit it. We will get a gap cover quote to you fast. * Remember: Only medical aid members qualify from medical gap cover *
All info was correct at time of publishing