Medical Insurance

You Probably Need Medical Insurance

Why Medical Insurance?

The difference between medical aid and medical insurance is often misunderstood. Even though people in the industry use it casually, most people are unsure about the differences and we would like to clear that up for you.

Technically medical insurance is governed by the Financial Services Act and insures individuals against the risk of possibly incurring medical expenses.

It is regulated by the long-term Insurance act and is most often used for the following reasons:
– As gap cover, used in conjunction with medical aid cover where the medical aid might fall short
– Promotion of wellness and health as well as protecting your financial assets
– Cover for accidental injuries like disability
– Cover your salary if you are unable to work as a result of accidental injury
– Gives options like death or funeral cover
– Covers specific health events with money paid to the member instead of the medical service provider

On the other side of the coin medical aid is governed by The Council for Medical Schemes. It allows medical care without financial burden should something unexpected happen or if you need to be hospitalized.

Medical aids often do cover most of the expenses, but it often results in a gap, which the member then needs to pay. These amounts can sometimes be big and difficult to cover at once.

Having a combination of the two is the best way to cover yourself. Making sure that you and your family are looked after medically and that accidents don’t impact you financially is crucial.

Have something on your mind and would like to chat? Please contact us

Fill in the form below to get a quote

Fields marked with an * are required

Please read the Terms and Conditions


 

Disclaimer
The information on uapply.co.za does not constitute financial advice as contemplated in terms of the Financial Advisory and Intermediary Services Act. Although all reasonable steps have been taken to ensure the information on the website is accurate, we do not accept any responsibility for any claim, damages, loss or expense, however it arises, out of or in connection with the information on the website. By completing any of the forms on the site you give permission for us to contact you and we charge no fees for this service.