Illness cover – protection against life’s unexpected financial uncertainties
Did you know? In South Africa, statistics show that the lifetime risk of developing breast cancer is 1 in 26 women*, which is a staggering number if you think about how many female friends and family members you have in your inner circle.
Everybody knows somebody, right?
Senior medical officer, Dr Bielqees Salie, said that in 2023, 71% of Old Mutual illness claims were due to the Big 4: cancer, heart attack, stroke, and coronary artery bypass graft (CABG). **
“This alarming statistic underscores the impact of non-communicable diseases (NCDs) driven by lifestyle factors. The prevalence of the Big 4 conditions highlights how modern lifestyles contribute to severe health issues,” she said.
Poor nutrition, inactivity, poor sleep, and mental health neglect are major risk factors. Overeating unhealthy foods leads to obesity, a precursor to many NCDs and physical inactivity impairs cardiovascular and metabolic health.
Sleep and mental health are often neglected too. Poor sleep quality is linked to an increased risk of heart disease and stroke, while chronic stress and poor mental health contribute to depression and anxiety, raising the risk of severe illnesses.
While lifestyle changes can mitigate many risks, age and genetics also play a role. As we age, the risk of cancer, heart disease, and stroke naturally increases, thereby elevating the risk regardless of lifestyle.
Regular medical screenings are essential for early detection, timely interventions and improving health outcomes. Preventive measures should include regular screenings for your Body Mass Index (BMI), blood pressure, cholesterol, and blood sugar levels to manage risk factors early.
According to the Old Mutual Claims Stats 2023, the youngest person to make an illness claim was a 23-year-old male, while the oldest male claimant was 81. Among women, the youngest claimant was just 29 years old, while the oldest female claimant was 83 years old.
Old Mutual Illness insurance pays out a single amount from R100 000 to R6 million if the insured person suffers from a severe illness such as, but not limited to, cancer, suffering a heart attack or a stroke. This payout can be used to help ease unexpected costs, potential loss of income, as well as cover rehabilitation expenses and home modifications.
And because everyone is different, our Illness insurance allows you to customise your cover further by choosing from additional benefits such as the Mild Illness Benefit and Returning Illness Benefit, to name a few.
Although it is impossible to know what the future holds, having illness cover can give you peace of mind, knowing that it can help you manage the unexpected costs of a severe illness, should it happen to you.
Poor nutrition, inactivity, poor sleep, and mental health neglect are major risk factors. Overeating unhealthy foods leads to obesity, a precursor to many NCDs and physical inactivity impairs cardiovascular and metabolic health.
Sleep and mental health are often neglected too. Poor sleep quality is linked to an increased risk of heart disease and stroke, while chronic stress and poor mental health contribute to depression and anxiety, raising the risk of severe illnesses.
While lifestyle changes can mitigate many risks, age and genetics also play a role. As we age, the risk of cancer, heart disease, and stroke naturally increases, thereby elevating the risk regardless of lifestyle.
Regular medical screenings are essential for early detection, timely interventions and improving health outcomes. Preventive measures should include regular screenings for your Body Mass Index (BMI), blood pressure, cholesterol, and blood sugar levels to manage risk factors early.
According to the Old Mutual Claims Stats 2023, the youngest person to make an illness claim was a 23-year-old male, while the oldest male claimant was 81. Among women, the youngest claimant was just 29 years old, while the oldest female claimant was 83 years old.
Old Mutual Illness insurance pays out a single amount from R100 000 to R6 million if the insured person suffers from a severe illness such as, but not limited to, cancer, suffering a heart attack or a stroke. This payout can be used to help ease unexpected costs, potential loss of income, as well as cover rehabilitation expenses and home modifications.
And because everyone is different, our Illness insurance allows you to customise your cover further by choosing from additional benefits such as the Mild Illness Benefit and Returning Illness Benefit, to name a few.
Although it is impossible to know what the future holds, having illness cover can give you peace of mind, knowing that it can help you manage the unexpected costs of a severe illness, should it happen to you.
For more information visit www.oldmutual.co.za/illness or speak to your financial adviser.
Old Mutual Life Assurance Company (SA) Limited is a licensed FSP and Life Insurer. Ts and Cs apply.
References:
*National cancer registry, 2022
** Old Mutual Claims Stats 2023
For more information visit www.oldmutual.co.za/illness or speak to your financial adviser.
Old Mutual Life Assurance Company (SA) Limited is a licensed FSP and Life Insurer. Ts and Cs apply.
References:
*National cancer registry, 2022
** Old Mutual Claims Stats 2023
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