Critical Illness cover is critical to your financial health. Before you die, you could contract and survive a major illness, such as heart disease or cancer. While medical schemes help meet the medical costs associated with illness, living with significant illnesses and paying for post-event services is a different ball game.

While cancer survival rates, for example, and other severe illnesses are constantly improving, significant costs are associated with recoveries. Cancer carries a notable financial burden. Medical schemes will undoubtedly contribute towards meeting the direct costs related to diagnosis by specialist physicians and regular treatment follow-ups. However, there are additional or indirect costs that are only sometimes covered by medical aid, as well as the matter of losing out on earning a monthly salary while you are sick.

A person with cancer may be unable to work for an extended period. Chemotherapy can extend over some time, possibly up to six months. Large employers may be sympathetic, but smaller companies may only be able to afford shorter sick leave periods of 30 days or less. So, they might invoke their employment rights and reduce the monthly salary or even dismiss the employee on the grounds of extended ill health.

There are also additional expenses, such as adjusting a home and vehicle and childcare. A commonly overlooked cost is the treatment of depression. One out of two survivors of a severe illness such as cancer will suffer from some form of depression, and treatment duration could range from several weeks to longer.

Basotho should be aware of the insurance cover required and the insurance gap is concerning: Sufficient and appropriate cover is essential considering the risks and costs associated with severe illness.