Risk cover
Sickness and Disability

why do we need sickness/disability cover?

  • LOSS OF INCOME - Provides funds that replaces lost income
  • FINANCIAL SECURITY - Provides funds to maintain standard of living
  • DEBT PROTECTION - Provides funds to settle to debts like mortgages etc.
  • Make sure you can financially survive if your employer or your own practice cannot pay you whilest you are sick or disabled to do your work as a professional.

Sickness Cover.:

Sickness cover covers any professional for sickness provided that you are booked of for more than seven days. The benefit would be paid back from day one and the claimant would receive this amount tax free according to the assured amount. The maximum that you can assure yourself is 66.6% of you gross professional income. The benefit would pay for a maximum of 24 months thereafter the disability income protection would take over.

Permanent income protection.:

After the waiting period is over that’s normally when you receive the sickness benefit the Income protection benefits start to pay usually up to the age of 65 and would be escalated with inflation or a fixed percentage every year. Your benefit would be taxed and you can assure up to 75% of your income some companies offer a 100% upgrade on total and permanent disability.

Disability Lump Sum.:

Lump sum amounts are also available to take care of the ones off financial needs or to settle debt however the monthly income and lump sum in combination works very well. There is always a need for upfront cash and a monthly income when disabled.