3 Myths surrounding Disability Cover

Disability cover tends to be overlooked, even though it’s one of the most important kinds of insurance a person can have. Your ability to earn an income enables you to provide for those who depend on you for financial support. What would happen if you were to become permanently disabled and as a result you were no longer able to work? This is when FRANK.NET’s Disability Cover can make the world of difference to you and your family. There are three common reasons why some people think they don’t need disability cover. We take a closer look at these.

Anyone, regardless of their age, can suddenly and without warning, suffer from a health issue or be injured in an accident and be left permanently disabled and unable to earn an income. It’s impossible to know what lies ahead, so even if you’re young and healthy, your life could change in an instant.

Do you know how much cover you get and for exactly what situations? Things like workmen’s compensation and disability cover provided by your employer can be limited, both in what is covered and what is paid out. Workmen’s compensation will only pay out under a very strict and defined list of regulations. Employer benefits are often limited to injury or illness as a result of an event or circumstance related to your job only. Some cases of disability occur outside of your work environment, and in this case, you probably won’t be covered.

Find out the details about the cover provided for you by your current employer. An additional disability policy can further assist you, should something serious go wrong.

Unfortunately, this is not how disability cover works. Securing this kind of cover is about being prepared for the worst should it ever happen sometime in the future. It doesn’t help to apply for it once you’re already disabled as you will then no longer be eligible.

Disability Cover from FRANK.NET covers you, in the event that you become totally and permanently disabled, where you are unable to work in either your current occupation or another one that suits you. You will receive a tax-free lump sum payout up to the value of R5 million, to be used however you see fit. You can use it to cover medical costs not covered by your medical aid, pay for specialist care or to enable you to make adaptions to your home or vehicle to assist you with your disability. The amount of cover varies and is based on your risk profile, which is made up of numerous factors such as age, gender, health, lifestyle and income. Your monthly payments are calculated based on this risk profile and the amount of cover you choose.

You can claim for disability up to the age of 65 years, but you will not be covered if you purposefully cause harm or injury to yourself or put yourself in a position where you are exposed to war, terrorism or any illegal activities that lead to your disability.

Having disability cover is all about taking precautions and being prepared. Contact FRANK.NET and find out more about the Disability Cover on offer. You may also be interested in taking out Salary Protection cover.

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