Diabetes and insurance cover 22 August 2013 The World Health Organisation projects that diabetes will be the seventh leading cause of death in 2030, and in South Africa the number of diabetics (estimated to be between four and six million) will triple in the next 15 years. You might have diabetes, or be at risk of developing this condition – have you thought about what this means for your finances? • Diabetes increases the long-term risk of cardiovascular disease, which could affect your disability, critical illness and life cover. • Complications from diabetes could affect your ability to earn a living. This could jeopardise your financial security. Michael Blain, managing director of Altrisk, says the financial consequences and economic impact of living with a serious illness such as diabetes are often overlooked. “Complications from diabetes may hinder your ability to earn a living, jeopardising your present and future financial security,” Michael says. This is why long-term insurance should form part of your financial plan. Diabetics have a higher risk of disability, and the last thing you want to worry about is how you will take care of unexpected expenses if you become disabled. “Fortunately, just as there are lifestyle changes that can be made to manage and even prevent diabetes, there are steps that can be taken to prepare for the impact of diabetes on financial security,” he says. Don’t be left without a plan. Talk to a financial advisor today.
Posted on: Wed, 28 Aug 2013 10:34:01 +0000
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