Dread disease cover, also known as critical illness cover, is a type of insurance that provides financial support if you are diagnosed with a dread disease.
A dread disease policy pays out a lump sum if you are diagnosed with a specific illness, such as cancer or a stroke, as defined in your policy schedule and the policy book. This lump sum payment can help cover the costs of treatment, medical bills, and other expenses not covered by your medical aid. Without dread disease cover, you could face significant financial risks if you are diagnosed with a dread disease. Dread disease cover can provide the finances you need during a difficult time, allowing you to focus on your recovery and wellbeing.
1Life Dread Disease Cover policies cover conditions such as cancer, heart attacks, strokes, and multiple sclerosis. Other illnesses that may be covered include Parkinson's disease, kidney failure, and organ transplants. The illnesses are listed in the 1Life Policy Book. It's important to carefully review the policy wording to understand what illnesses and diseases are covered, as well as any exclusions or limitations that may apply.
You might be wondering ‘why do I need dread disease cover?’. The reality is that critical illnesses can strike anyone at any time, regardless of age or health. The financial impact of a critical illness can be significant, from medical bills to lost income and other related expenses. That’s where dread disease benefits come in.
Having dread disease cover in place can provide a safety net, helping to ease the financial burden of serious illnesses and allowing you to focus on your recovery. In addition, dread disease cover can offer peace of mind, as you know that you have financial protection in place if the worst happens. So while it's impossible to predict what the future holds, having dread disease cover can help you be prepared for whatever life throws your way.
1Life Dread Disease Cover offers more than just financial protection against critical illness. With the Guaranteed Assurability benefit you can increase your sum assured with no underwriting, apart from a new negative HIV test, every three years on the anniversary of your policy or after you get married, have or adopt a child, buy a home or start a business. Plus no waiting periods apply to your policy* and your premiums are fixed for 12 months! (*Ts & Cs and limits may apply)
Dread disease cover and disability cover both offer financial protection against illness and accidents, but they are two very different types of cover. Dread disease cover pays a lump sum if you are diagnosed with a dread disease, whereas disability insurance pays out if you are disabled by accident or illness. You can choose between:
To make a claim you need to complete the required forms which can be submitted via fax or email. Contact our claims department on 0860 10 51 96 to get started.
There are important time limits that apply to making claims:
Top tips: While 1Life Dread Disease Cover does not have any waiting periods it does have a survival period of at least 28 days. This means that if death occurs as a result of the dread disease within 28 days of the diagnosis date, the claim will not be approved.
You must inform 1Life Insurance if you leave the country for more than 14 days, start smoking, engage in a hazardous pursuit or change your occupation. If you do not inform us of these changes any claims you make might be reduced or rejected. You should also check your policy book and policy schedule for any general or specific exclusions that might apply to your policy.
In conclusion, dread disease cover can provide critical financial support as well as peace of mind if you are diagnosed with a critical illness.
Chat to our team about a 1Life Dread Disease Cover quote. You get a tax-free lump sum pay-out of up to R4 million with 1 call and no medical exams, just an HIV test.
While no waiting periods apply to your policy there is a survival period that means the lump sum will only be paid if the assured survives for at least 28 days from the date of diagnosis.
The views and opinions expressed in this article are those of the authors and do not necessarily represent or reflect the views of 1Life Insurance or its employees.