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A Health Policy To match your Circumstances
There exists a distinctionbetween medical aid schemesand a health policy. The latter is an insurance policyproduct, which means that you take out an insurance plan against certain health concerns and repayment on claiming is paidstraight to you, tax free.
Some health policy products and solutions seem to offer some overlap with medical aid systems in terms of the solutions offered, which are not fully extensive, yet seem to offer some benefits usually linked to medical schemes. It might be well worth it to take some time to do detailed research into these plansprior to making a conclusion. Some health policyproducts offer various alternatives, which are service and premium related, so you need to be sure what it is you anticipate from such plan. Many of the major insurance companies are players in this market and there are also numerous perhaps lesser known players, but with fascinating products. Estimates very often can be acquired online, but you could also contact a broker to learn more. The net provides valuable information about these products and if your research isweb based, you should be able to discern the differences between solutions. To tweak your research you could then phone the insurers or at least E Mail them to learn more for clarification purposes. For more information on disability to work go to https://www.instantlife.co.za.
A health policy product seems to be obtainable in 3 main groups, i.e.: A Hospital Plan, Dreaded Disease Insurance, and policies offering a mixture of services. These insurance policies are generally considered by people who are self employed or as second products to medical aid schemes. Hospital plans are insurance products which offer a daily budget for time spent in hospital. Payments are only paid after 3 days of stay in hospital and involve an amount of R5000 as maximum daily payment. The average hospital stay is some 5-7 days, so the maximum payout you couldexpectin such a case is R20 000, should you have chosen the maximum benefit. Payouts are tax free as it is an insurance policy payout. Dreaded disease insurance coverage can be connectedto life insurance and allows for insurance against contracting any of the classified feareddiseases. On contracting any one of these diseases (heart disease, stroke, most cancers or HIV AIDS) a maximum of R5M is payable to be used for treatment or rehabilitation costs or such purpose as determined by you - once more such payment is tax-free. It is advisable to look carefully at the conditions of each insurer offering the product as they do differ, sometimes rather drastically. The last kind of health policy is of a type where there seems to be a mix of functions. These policies offer many options which are premium driven and will include many services but are not as all-inclusive as a medical aid scheme, although they offer access to daily care, but on a limited financial aid basis.
As said before these types of health policy, are often considered by independantly employed individuals who don't have the option of a subsidised medical aid scheme, so they are more affordable and perhaps a combination of products will match your conditions best.