Why Get Medical Gap Cover from Old Mutual?
July 26, 2020
You could be wondering, what are the benefits of taking medical gap cover from Old Mutual. They have been around since 1845, with a long and proud record in South Africa. Their Medical Aid and Medical Cover are important products in the company. Here we will look at why get medical gap insurance.
Old Mutual – Why Get Medical Gap Insurance
Old Mutual offer two types of cover, Medical Gap Cover and a Hospital Cash Plan. Gap cover will cover you for the shortfall between the medical rates and what the medical aids payout.
Why Select Old Mutual For Your Medical Gap Cover?
Old Mutual provides up to R500 000 annual cover. They also cover up to 4 x NHRPL for in-hospital surgical and medical treatment as well as outpatient treatment for renal dialysis and chemotherapy.
Why Medical Gap Cover is Necessary
You will receive up to R100 000 per event per year to a limit of R500 000 per family. Old Mutual Medical Gap Cover is roughly R120 per month for a family.
So many people get a devastating surprise when they realise how big the shortfall can be. While you thought you were safe because your medical aid provides cover for 100%, you did not realise the bills are often many times more than 100%. Most people do not read the terms and conditions of the medical aid and are not aware that it might only cover 25% of the total medical costs.
Who Gets The Cover – Why Get Medical Gap Insurance
Who will receive the cover with Old Mutual’s Gap Cover?
You, the principal member
Children and registered dependents
One must be under the age of 60 to apply
So why Choose Medical Gap Cover provided by Old Mutual?
For about R130 monthly premium, you will receive the cover of R500 000 per family per year, with the cover of up to R100 000 for each insured event.
Who can get gap cover and why you should take it as soon as possible
If you are the primary member of the medical aid and under 60 years old you can apply for the cover. The cover will cease when you reach the age of 75. Also, there is a three-month waiting period except in the case of an accident that occurred after the policy started. So It is always a good idea to speak to a broker or financial adviser for more information on gap cover.
Old Mutual gap cover offers many benefits. If you wish, you can get an easy to read brochure on the details and benefits as well as the conditions of the cover. Alternatively, a financial adviser will be able to provide more information as well as advice
Old Mutual can be reached on 0860 101 233 or online at www.oldmutual.co.za
Medical aid members can complete and send the form on this page for a FREE gap cover quote.
All info was correct at time of publishing