Article by: Umhlanga Financial Advisor: Ridhwaan Tagara
How do you know that you are choosing the correct Disability Cover?
Most consumers think Lump-Sum Disability Cover is the same across all insurers. Unfortunately, this is not the case, and many consumers have found this out too late when doing a claim with their chosen insurer.
Consumers are not aware that you get:
The definition of your Disability Cover is critical whether you'll qualify for a claim with your insurer.
Some insurers offer comprehensive disability cover which covers all of these benefits in one product. It does come at a cost and most consumers are not aware the reasons for the higher premium.
There are cases where you may not qualify for the most comprehensive option due to your risk in occupation. Some insurers are more risk adverse. Therefore, always check with your insurer or broker that you have the most comprehensive Disability Cover they have to offer.
You also get cases where the insurer you select may not be as good as another insurer. This all may seem confusing to most consumers. That's the reason you need to select a broker to help guide you through all the different Disability solutions out there and which one will be the most applicable to you.
For more information please contact us by email: ridhwaan@tagaraadvisorygroup.com or call us on 082 064-9113.
