Dread Diseases: Are You Insured?

insurance against dread diseaseMany people have comprehensive insurance cover that will leave their families with the peace of mind that comes with financial security should they pass away. What many of us don’t pay enough attention to however, is the possibility of contracting a dread disease.

To a fit and healthy person enjoying the pleasures of life, the thought of a dread disease is truly dreadful. The loss of income and quality of life is something most of us would hate to experience, much less the impact that our families would feel as a result. Because we are in good health, we rule out the chances of anything of this kind happening to us and yet it is a possibility we should consider when deciding on insurance policies.

What qualifies as a dread disease?

Generally speaking, most insurers classify dread diseases as very serious illnesses that have a dramatic impact on the ability to function normally. Among these diseases are heart attacks, strokes, and conditions that affect the brain and nervous system, various forms of cancer and other conditions that cause an inability to work during the course of the illness. Your financial advisor will be able to advise you on the conditions that are covered and the various cover options that exist.

What Kind of Cover Can I Expect?

Depending on the type of policy you opt for, you may be covered for a lump sum amount or an amount equal to a certain number of months’ income. There are different options that cover anything from 50% to 100% of income for different periods of time. Most insurers do have limitations on the amount they will pay out in the case of dread disease, and the amount of cover you opt for will affect your monthly insurance premium.

Dread disease cover is an essential part of every working person’s insurance portfolio. If you would like to add this type of cover to your existing insurance policy or would like further information, contact your financial advisor today.

Leave a Reply

Your email address will not be published. Required fields are marked *