Protect Your Income: Invest in Accident and Sickness Insurance

Comprehensive sickness insurance

Though not many of us are okay with change, fact is it's part of life and despite our plans sometimes a lot can change in a day, unpredictably. Sure it can be both positive and negative, however while we like to hope only for the best, thinking bad things won't happen to us, we can never know what the next day brings.

In other words, it's always better to be prepared for the worst. The best way to go about it is by getting insured, and I don't mean insuring your properties or business, but rather your own best asset: your well-being.

As long as you're healthy you have the ability to earn an income and provide for your family, which bring us to the question you should ask yourself: How would you take care of the monthly income and expenses if something goes wrong?

This is what makes the investment in comprehensive sickness insurance worthwhile, especially in the event of an accident or sickness keeping you away from work in a long period. It doesn't matter whether you're self-employed or an employee, this insurance is ideal for anyone.

The reason it's a better option than health insurance is it covers losses of income in the case of sickness or accident, whereas though it might seem similar to the disability insurance, the difference is you'd get to receive the monthly benefit of up to 80% of your income until you're ready to get back to work.

Since there are a number of features you'd have to consider, such as the waiting period, the scope of the cover itself, the ownership structure and the benefit period to name some, it's recommended to seek the help of expert insurance brokers who can advise you on the best solution for you, tailoring the comprehensive sickness insurance that best suits your needs.

There's the option to choose accident or illness cover only, or the two combined depending on your case as well as the risks you're exposed to. Additionally, there are some policies offering the cover for temporary total or partial disablement so find out what works for you before investing.

It's also good to know not every accident or injury can be covered by the insurance as it is in the case of pre-existing conditions, intentional or criminal deliberate acts, pregnancy and childbirth, among others. Be sure to report every condition or test you've had so as to prevent invalidating a claim later on.

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Last edited: 14/02/2019