Dread Disease Insurance by 1Life

What is Dread Disease Insurance?

Also referred to as critical illness cover, Dread Disease Cover is an insurance policy that will pay out a lump sum in the event that you are diagnosed with illness leaving you unable to work. This includes serious illnesses like cancer, organ failure and blindness as well as the effects of heart attacks, strokes and transplants.

The lump-sum payout can be used to fight back against your illness with medical care, home renovations to cater to your new condition, or simply to keep up with the usual day-to-day financial costs. 

This can assist you if you need to take a few months off work to receive treatment (such as chemotherapy), recover from major surgery or perhaps can no longer work in your job due to your illness (such as blindness or Alzheimer’s). The lump-sum payout means that you can rather focus on your health and not worry about how you’re going to pay the month's bills.

Budget Dread Disease Insurance

Budget offers affordable Dread Disease Cover, making sure that you and your loved ones are looked after should you be diagnosed with a serious illness. With Dread Disease Insurance, Budget will pay out a percentage of your cover if you are diagnosed with a listed dread disease (such as cancer), have major surgery (such as a heart transplant), or suffer from organ failure.

We understand that your lifestyle will change as you grow older, which is why our Dread Disease Cover includes a Guaranteed Assurability option. This means that you can increase your cover amount if your lifestyle changes, like getting married or having another child. 

Because our Dread Disease Insurance is a standalone product, claiming from your Dread Disease Cover won’t affect your other policies in any way. You will also be covered for your whole life.

We also don’t restrict you on what you can use your payouts for. Whether it’s to cover your medical bills, renovate your home, pay for home nursing care, or keep up with your monthly bills – it’s completely up to you.

Your Budget Dread Disease Cover premium is calculated based on your specific risk profile. Factors like your age, gender, occupation and health will all be considered when your monthly premium is calculated. Note that you have to be between the ages of 18 and 59 to purchase Budget Dread Disease Cover.

Dread Disease Insurance benefits 

Our Dread Disease Insurance comes with a range of benefits, specifically designed with affordability in mind. These include: 

• Cover from R50 000 to R4 million, depending on your personal circumstances. 

• No premium increases within the first 24 months and thereafter they will only increase by 5% per year.

• Guaranteed Assurability.

• No medical exam will be required, only an HIV test.

• No tax payable on payouts.

• No waiting periods.

• Premium waiver if you have Budget Life Cover and Disability Cover on the same policy as your Dread Disease cover.  Read your policy schedule for more details and waiver period.

Why Dread Disease Insurance is important

You and your family should not have to worry about money when coping with serious illness. Being diagnosed with a critical illness or having to undergo serious surgery is scary enough – without the added financial effects that come along. 

A serious illness can have lasting financial impacts on a family if you are not covered beforehand. This isn’t only related to the effects of the illness, but also from the loss of income when you can no longer work – even if it’s just temporary. This is especially important if it’s the breadwinner of the family diagnosed with the illness. 

You won’t know what you’ll need the extra financial support for until the time comes. Which is why it’s completely up to you on how you spend it. It’s there to make your life easier and allow you to focus on your health without added financial stress on your shoulders.

Because of the many advances in medical science, we are living longer with our diseases. This makes it important to ensure that you’ll be able to survive financially should you be diagnosed with a serious illness.

Who needs Dread Disease Insurance?

It’s something that we never think we’ll need. But, being diagnosed with a critical illness can happen to anybody. It’s a reality that anyone of us may face one day, and you don’t want have finances standing in the way of getting the care you need.

This is why it’s important for anyone with financial responsibilities to take out Dread Disease Cover, especially those with financial dependents. Remember, even if you have medical aid available to cover your medical fees, there’ll be more additional costs that pop up that won’t be covered.

From revamping your house entrance to cater for accessibility should you become wheelchair-bound to alternative treatments and therapies, travel costs, home care and private nursing? The payout received from your Dread Disease Insurance can help lighten the financial load on having to adapt to your new way of life.

When will a policy payout?

Your Dread Disease Cover policy will pay a percentage of your cover amount if you are diagnosed with a listed dread disease. Such diseases include cancer, heart attacks, strokes, organ failure & transplants and Alzheimer’s.

The percentage amount paid out will depend on the severity of the illness, the criteria for which can be found in your policy book. For example:

• You will be paid 25% of your cover amount if you are diagnosed with a life-impacting disease (i.e. a condition that needs immediate medical attention but has a favourable prognosis).

• You will be paid 100% of your cover amount if you are diagnosed with a life-threatening disease (i.e. a very serious condition that needs urgent medical attention and has a poor prognosis).

Once a combined amount of 100% of the total sum assured (stated in the policy schedule) has been paid out, no further payouts for this benefit will be considered and cover will stop.

Note that when making a claim, you’ll need to provide certain documents. This will be communicated to you during the process of the claim. Once Budget has received all of the necessary documentation needed to assess the claim, a claim may be paid out in a reasonable amount of time.

Additional life policies

Are you looking for even more Budget Life Insurance Products? Budget is here to cover you for all aspects of your life.

Read more about our Life Insurance policies, including Disablement Cover.

Budget Dread Disease Insurance quotes

Make sure you’re prepared should the worst happen and you’re suddenly unable to work. Dread Disease Cover is there to ensure that you can still provide financially for your family. Get an affordable Budget Dread Disease Cover quote today. You can either get a quote online, give us a call on 0860 86 04 44, or leave your details and we’ll call you back. Saving you money from the start!

Affordable, ‘cos you can’t afford not to.

Budget Insurance is an licencesd insurer and FSP. Terms and Conditions online.