Up to the end of the 1970s, the biggest threat to a family’s financial well-being was the death of a breadwinner. If someone had a heart attack or got cancer, very often, they died. It is for that reason that life insurance became such an integral part of an individual’s financial plan, and in some respects continues to be so.But as medical science progressed, more people survived these dread diseases.
“‘You have had a severe heart attack’ or ‘Your wife has had a stroke and will never walk or talk again’ or ‘Your child has leukaemia’. Barnard was inducted into the Insurance Hall of Fame for his work here. The hall of fame was created in 1957 and is administered by the global nonprofit International Insurance Society, founded in 1965 and based in New York City.
Financial wellness coach Kenny Meiring says there are a number of dread diseases products on the market, and prices, benefits and conditions can vary vastly.“There are many basic cheap versions of these products which can lull a person into thinking he or she is covered when they are not.
Do the benefits reset? If I claim for one type of cancer and later get a different cancer, may I claim again?Will I be able to afford them?Will I be covered for early diagnosis? I qualify for a substantial amount of cover at the age of 41, despite living a sedentary lifestyle on mostly peanut butter, bacon and banana sandwiches. It was an Elvis Presley favourite and we know how that worked out for him. I also have a family history of heart disease and diabetes.
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