How Much Does Gap Cover Cost?
July 1, 2018
Have you ever thought about putting aside money for gap cover cost rather than for home renovations?
Here’s why you should and what happens if you need that cash for unforeseen medical expenses? Especially hospital bills.
To cover the difference between medical aid rates and private rates, take out gap cover and have peace of mind that your hard earned savings are safe.
But how much does gap cover cost you might be asking yourself?
ONLY Medical aid members can apply for a family gap cover quote by completing and then sending the form on this page
How much does gap cover cost? Here are some gap cover providers premiums in South Africa –
Essential Gap Cover Cost
Essential offers four options: Elite, Prestige, Superior and Exclusive. Each option offers different levels of cover from R250 000 annual cover limit to unlimited gap cover. The monthly premiums are:
- Elite – R140
- Prestige – R160
- Superior – R185
- Exclusive – R215
Each option’s premium includes cover for the principal member and their dependents. There’s bound to be an option that suits your needs.
Sanlam Gap Cover Cost
Sanlam Gap Cover offers the Comprehensive Gap Cover at R252 (younger than 60 years) and R605 (60 years and older). This includes in-hospital treatment and some out-of-hospital treatment benefits. Enhanced hospital cash benefits are only available to Sanlam Reality members.
Gap Cover from Old Mutual Cost
Medical professionals can charge as much as 75% more than what your medical aid will cover.
Gap cover from Old Mutual will cover those shortfalls for you and your family in the event of in-hospital surgical and medical treatment as a result of illness or an accident.
The cover also covers out-patient treatments like renal dialysis, chemotherapy and radiotherapy.
The cover amount is R100 000 per event, per calendar year up to a maximum of R500 000 per family. Premiums start at R130 per month and dependents have cover at no additional cost.
Gap Cover from Zestlife
Zestlife’s gap cover will ensure you’re not left out of pocket at a time you most need the finances. Besides covering in-hospital shortfalls, Zest Life’s gap cover will also cover:
- Hospital treatment co-payment cover
- Doctors’ charges covered by medical aid where certain procedures and treatments are performed on an out-patient basis.
- If you or one of your dependents are diagnosed with cancer after the commencement of the policy, Zest Life will pay out a once off sum of R25 000
- If a co-payment is due for a cancer-related treatment once you’ve reached your medical aid’s sub-limit, or you have exceeded the threshold, Zest Life will cover a maximum co-payment of 20%.
There’s also optional extra cover like boosting dentistry and cancer cover. The standard benefit from ZestLife starts at R245 per month. Other costs include:
- Extended lump sum cancer cover – for a lump sum of R75 000 it would be R68 per month on top of gap cover premium, for a lump sum of R175 000 it would be R130 per month on top of gap cover premium.
- Extended dentistry cover – R259
- Medical premium waiver cover – for 24 month cover period it would cost R165 per month on top of gap cover premium, for a 60 month cover period it would cost R289 per month on top of gap cover premium.
Gap cover cost is definitely affordable
Gap cover is an incredibly affordable addition to your medical aid policy. And even if you only have hospital cover from a medical scheme, you are eligible for gap cover.
In today’s tough times, with the crime and high accident rates in the country, can you afford to be without gap cover?
ONLY Medical aid members can apply for a gap cover quote by completing and sending the form that appears on this page
All info was correct at time of publishing