People who are self-employed, temporary workers, artisans, vendors and tradesman who are not permanently employed can often find themselves facing huge medical bills and expenses in the unfortunate event that they are hospitalised for a couple of days.
Being hospitalised also means that individuals who rely on their skills to put food on the table will usually have no income during this difficult time.
“A health cash plan which can cover your entire family for non-medical expenses, as a result of hospitalisation is ideal in this situation, since you can qualify to get a cash pay-out for each day that you are in hospital,” says Lee Bromfield, CEO of FNB Life.
“You can find yourself with a huge gap in your income when hospitalised, leading to financial stress as you worry about money needed to pay for daily expenses and bills which won’t simply go away just because you are sick,” says Bromfield.
It is, therefore, essential to always plan ahead for emergencies as you will never know when you will get sick or injured, especially if your job requires you to be healthy and physically present all the time.
“Even if you do have medical aid, a health cash plan will still come in handy to provide you with some sorely needed cash to help with any additional expenses incurred while you are in hospital,” adds Bromfield.
He cautions, however, that a health cash plan policy should not be confused for a medical aid, but rather be used as complementary cover for bills that would normally not be catered for by your provider.
For example, since the health cash plan benefits may be used for anything you want, someone who has lost two days of work and income, can use the cash benefits to make up for the days lost.
“Furthermore, it is important to read and understand the terms and conditions when taking out this policy to know exactly what you are covered for. For instance, many insurers will not cover you if illness, injury or dependence syndrome occurs as a result of using substances such as drugs or alcohol,” explains Bromfield.
FNB now offers a health cash plan to all its customers, their spouses, up to eight children, four parents or parents-in-law and up to seven extended family members.
The FNB Health Cash Plan pays out your chosen daily cash benefit for non-medical expenses if you are hospitalised for more than 48 consecutive hours.
For more information customers can call 087 736 7772 or visit www.fnb.co.za