What is Old Mutual's Illness insurance?
Old Mutual Illness insurance pays a single tax-free amount from R100 000 to R6 million if you have a severe illness such as cancer, a heart attack or stroke. This can be used to cover rehabilitation costs, travel expenses to treatment centres, modifications to your home or car and day-to-day expenses while taking time off from work to recover. Customise your cover by adding benefits such as Mild Illness Benefit, For Women Benefit and Returning Illness Benefit to name a few. Choose from the available add-ons to make it even more unique.Choosing the right cover doesn’t have to be daunting. With the help of your adviser, you just need to follow these three quick and easy steps.
- Choose your cover. In this instance Old Mutual Protect Severe Illness Cover.
- Enrich your cover by paying extra for benefits such as Top-up Benefit, Mild Illness Benefit, Child Illness Benefit, For Women Benefit or Returning Illness Benefit. You choose the ones you want.
- Choose your add-ons such as Cashback or Premium Protection.
Old Mutual Protect Severe Illness Cover
Pays out a percentage of your cover as a single amount if you suffer a severe illness like cancer, a heart attack, stroke and other listed illnesses.
Cover amount
R100 000 – R6 million
Top-up Benefit
Pays the full cover amount for specific illnesses. Includes a Lifestyle Enhancer which pays double the cover amount if your quality of life is severely impacted by an accidental brain injury, coma, heart attack, paralysis or a stroke and you can no longer care for yourself
Child Illness Benefit
Pays up to 10% of the cover amount up to R500 000 for child severe illnesses such as cancer or severe burns
Mild Illness Benefit
Pays 30% of the cover amount for mild illnesses such as Type 1 diabetes and bacterial meningitis
Returning Illness Benefit
Pays up to 50% of the cover amount for returning severe illnesses such as cancer, a heart attack or stroke after the full cover amount has already been paid
For Women Benefit
Pays up to 50% of the cover amount for fertility-related conditions and complications during pregnancy such as endometriosis, eclampsia or stillbirth
No medical tests for cover up to R1 million
You have the option to get cover of up to R1 million without going for medical tests. But remember, the more information we have about your health and lifestyle, the more you could save on premiums and get access to more cover
Add on Premium Protection
To ensure that premiums are no longer payable and cover continues if the premium payer becomes disabled, impaired, is retrenched or dies
Add on Cashback
Get a percentage of your premiums paid every five years on the cashback anniversary
Old Mutual Protect Severe Illness Cover
Pays out A percentage of your cover as a single amount if you suffer a severe illness like cancer, a heart attack, stroke and other listed illnesses.
Benefits
Cover amount
R100 000 – R6 million
Top-up Benefit
Pays the full cover amount for specific illnesses. Includes a Lifestyle Enhancer which pays double the cover amount if your quality of life is severely impacted by an accidental brain injury, coma, heart attack, paralysis or a stroke and you can no longer care for yourself
Child Illness Benefit
Pays up to 10% of the cover amount up to R500 000 for child severe illnesses such as cancer or severe burns
Mild Illness Benefit
Pays 30% of the cover amount for mild illnesses such as Type 1 diabetes and bacterial meningitis
Returning Illness Benefit
Pays up to 50% of the cover amount for returning severe illnesses such as cancer, a heart attack or stroke after the full cover amount has already been paid
For Women Benefit
Pays up to 50% of the cover amount for fertility-related conditions and complications during pregnancy such as endometriosis, eclampsia or stillbirth
No medical tests for cover up to R1 million
You have the option to get cover of up to R1 million without going for medical tests. But remember, the more information we have about your health and lifestyle, the more you could save on premiums and get access to more cover
Add on Premium Protection
To ensure that premiums are no longer payable and cover continues if the premium payer becomes disabled, impaired, is retrenched or dies
Add on Cashback
Get a percentage of your premiums paid every five years on the cashback anniversary
This product is available from your financial adviser. Unlike off-the-shelf products, this one is designed around what you need and want. Your adviser is best placed to help you build your customised cover. If you don't have an adviser please call us on 0860 60 60 60 or find an adviser here.
The Lifestyle Enhancer is part of the Top-up Benefit and pays double the cover amount if the insured person's quality of life is severely impacted by an accidental brain injury, coma, heart attack, paralysis or a stroke and they can no longer care for themselves.
Cashback pays back a percentage of your premiums every five years on the cashback anniversary - putting money back in your pocket.
This benefit ensures that your cover continues if the premium payer becomes disabled, impaired, is retrenched or dies.
You're covered up to 30 days before your first premium is payable.
- You need to be older than 14 and younger than 69 when you apply for this cover.
- You choose if and how you want your cover and premiums to increase.
- If you stop paying premiums the cover stops. It's important to get in touch with your adviser before this happens so that he or she can assist you with possible solutions.
- As this product is not an investment, you won't receive any money if you cancel it.