You will find there’s a distinctionbetween medical aid servicesand a health policy. The latter is an insuranceproduct, meaning youadopt out an insurance policy against certain health concerns and repayment on claiming is paiddirectly to you, tax free.
Some health policy solutions seem to offer some overlap with medical aid systems with regards to the services offered, which aren’t fully extensive, yet seem to offer some benefits usually connected with medical schemes. It might be worth while to take some time to do complete research into these plansbefore making a call. Some health policyproducts and solutions offer various choices, which are support and premium related, so you have to be sure what it is you expect from such insurance plan. Many of the major insurance providers are players in this marketplace and there are also a number of perhaps lesser known players, but with useful products. Quotations often can be acquired online, but you could also contact a broker to find out more. The world wide web provides valuable information about these products and if your homework isweb-based, you ought to be able to discern the differences between products. To fine tune your research you could then phone the insurance providers or at least E Mail them for more information for clarification purposes. For more information on income disability go to https://www.instantlife.co.za.
A health policy product appears to be obtainable in three main categories, i.e.: A Hospital Plan, Dreaded Disease Insurance, plus policies offering a mixture of services. These plans are normally considered by people that 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 72 hours of stay in hospital and involve an amount of R5000 as maximum daily payment. Thenormal stay in hospital is some 5-7 days, so the optimum payout you couldcountonin such a case is R20 000, in case you have opted for the maximum benefit. Payouts are tax-free as it is insurance coverage payout. Dreaded disease insurance coverage can be linked with life insurance and provides for insurance against contracting any of the classified feareddiseases. On contracting any one of these diseases (heart conditions, stroke, most cancers or HIV AIDS) a maximum of R5M is payable to be utilized for treatment or rehabilitation costs or such purpose as determined by you – again such payment is tax-free. You have to look carefully at the stipulations of each insurer offering this strategy as they do fluctuate, sometimes rather significantly. The last form of health policy is of a type where there appears to be a combination of functions. These policies offer many options which are premium driven and will include many services but are not as in depth as a medical aid scheme, even though they offer access to daily care, but on a limited financial aid basis.
As stated before these kinds of health policy, are often considered by self-employed individuals who do not have the option of a subsidised medical aid scheme, so they tend to be more cost-effective and maybe a combination of products will match your conditions best.