Premium Waiver for Medical Aid Cover

Medical aid does not end when the main member dies if there are other dependents on the cover. Death is an inevitability and schemes cannot instantly terminate the membership of living dependents but this does not mean that the dependents are not liable for the monthly premiums. If the premiums are not paid, the existing members on the medical aid cover are initially suspended and continued non-payment will then result in termination.

But what do you do if the main member is also the breadwinner in the family? How will you afford the cost of medical aid premiums? Fortunately there is an additional form of protection known as the premium waiver. Some schemes will automatically grant a waiver for a month or two, but premium waiver should be purchased as a standalone policy if you want relief for as much as 2 years from paying medial aid premiums.


Gap Cover for Medical Aid

Gap cover is not unique to financial products. For years there has been this additional protection to cover you for any shortfall where insurance does not pay the full amount. Now there is medical aid gap cover as well for when you scheme does not pay the full bill. In this day and age when South African practitioners, especially medical specialists, charge above the NHRPL rate, gap cover can make that difference in affording the high quality of private healthcare that you want. Without it, you will have to fork out cash from your pocket to pay the shortfall that your medical aid does not cover.