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Dread Disease and Permanent Total Disability Plan
What is a dread disease?
Dread Disease Cover, also known as critical sickness coverage, is an insurance plan that will provide a lump sum payment if you are found to have a disease that prevents you from working. This covers major illnesses including cancer, organ failure and blindness as well as the repercussions of heart attacks, strokes and transplants.
The lump-sum payment can be used to pay for medical expenses associated with your illness, make necessary home improvements to accommodate your new condition, or simply cover your regular monthly expenses.
This can help you if you need to take a few months off work for medical treatment (such as chemotherapy), to recover from major surgery, or if your sickness (such as blindness or Alzheimer’s) prevents you from working at your job. Because of the lump-sum payoff, you can put more of your attention on taking care of yourself and less time worrying about how you’ll pay your bills each month.
Dread diseases covered:
- Cancer
- Heart Attack / Myocardial Infraction
- Kidney Failure
- Stroke
- Coronary Artery Bypass Grafting
- Aorta Surgery
- Blindness
- Heart Valve Surgery
- Major Organ Transplant
- Paralysis
- Benign Brain Tumour
- Encephalitis
- Coma
- Loss of Limbs
- Severe Burns
- Parkinson’s Disease
- Loss of Hearing
- Loss of Speech
- Bacterial Meningitis
- Fulminant Hepatitis
- Permanent Total Disability due to Disease or Accident
Dread Disease Benefit
Any family that is dealing with a chronic illness must make serious financial and emotional sacrifices. Our Dread Disease Benefit pays out a cash lump sum to help cover the costs associated with a member’s illness, providing them and their family the opportunity to adjust to a new way of life.
How does the Dread Disease Benefit work?
If a member is found to have a specified dread sickness, it pays out a cash lump amount (also known as a severe or critical illness).
Why Dread Disease Insurance is important
You and your family should not have to worry about money when coping with serious sickness. Being told that you have a serious illness or that you need to have surgery is a scary enough experience without having to worry about the additional financial consequences.
If you are not covered beforehand, a serious sickness could have a long-term financial impact on your family. This is a result of both the illness’s effects and the financial hardship you experience when you are temporarily or permanently unable to work. This is crucial if the family’s primary provider of income has been diagnosed with the illness.
Before the time comes, you won’t know what you’ll require the additional cash assistance for. It is therefore entirely up to you how you want to spend it. It exists to simplify your life and free you from additional financial burdens so that you may concentrate on improving your health.
We are surviving longer with our disorders as a result of the numerous medical science advancements. This makes it crucial to make sure you’ll be able to maintain your financial stability should you be given a serious disease diagnosis.
Who needs Dread Disease Insurance?
It’s something we never anticipate requiring. However, anyone can receive a serious illness diagnosis. Anyone of us could experience it one day, therefore you don’t want money to be an obstacle in the way of getting the care you require.
This is why it’s crucial for everyone with financial obligations—especially those who have dependents on their income—to have Dread Disease Cover. Remember that even if you have medical insurance to pay for your medical expenses, there may still be other expenses that arise that are not covered.
Changing the front door to your home to make it wheelchair accessible, paying for alternative therapies and treatments, travel expenses, home care, and private nursing? Your Dread Disease Insurance payment can lessen the financial burden of having to adjust to your new way of life.
Frequently Asked Questions (FAQs)
A terrible illness or urgent condition can have a crippling financial impact. Your medical aid may not fully cover the cost of the medical care and continuous rehabilitation. You might also be unable to work throughout or after treatment. Coverage for critical diseases is necessary because of this. You and your family can stop worrying about money so you can concentrate on getting better by using the payout from your dread disease insurance to replace lost income and pay for medical expenses. Give your family and yourself the financial safeguards they require against serious illness.
Your premium is determined by your unique risk profile, which includes:
Age: Younger people pay a lower premium because they are less likely to receive a terrifying sickness diagnosis.
Health: We consider any past medical history or present medical issues that may indicate a higher risk of developing a serious illness.
Lifestyle: For instance, if you smoke, your risk of contracting a smoking-related disease is increased, which could result in higher premiums
Yes, this cover has an age restriction. As long as your premiums and policy are current, you can become eligible for critical illness and dread disease coverage at any time between the ages of 18 and 59 and remain protected for the rest of your life.
No, the critical illness and dread disease insurance does not have a waiting period. But there is a “survival phase.” This indicates that only if the life assured survives for at least 28 days from the date of diagnosis will the lump sum be paid.