Disability Cover
Take a look at these frightening statistics:
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In 2009 alone, one of the big insurance companies paid R159.8 million in permanent disability claims
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In South Africa only 25 out of every 10 000 people who are disabled are rehabilitated and return to work
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The most common causes of disability in South Africa relate to muscular, skeletal, trauma, cancer and mental disorders.
Your earnings are vital to your family’s continued security. Now imagine what would happen if you had an accident or illness that left you unable to continue to do your job. How would you cope without that income? Disability may occur as a result of injuries, accident or even illness, and these can either be temporary where one can return to work, or permanent.
You need to ensure that you can replace your ability to earn an income and still have money available to deal with the possible consequences of your disability. For example, if you are left wheelchair-bound, you will still need to cover monthly living expenses such as food, school fees, bond and car repayments.
Unless you have made solid financial provision, your lifestyle is going to change for the worse. This is where lump sum disability can protect you and your family. The lump sum payment enables you to settle debts immediately, and use what is left to provide an income until your retirement date.
No one can guess what the future holds. Life is full of surprises. We have to be prepared for anything that might come our way!
