Don’t let medical expense shortfalls ruin your holidays or your future
As we approach the festive season, many people are planning their time off, which often involves travel, and in the current economic climate, many people are visiting local destinations, which means vastly increased traffic on our national roads. With increased traffic there inevitably comes an increase in accidents, which can result in severe injuries. While avoiding an accident is always first prize, they can and do unfortunately happen, and if or when they do, they can incur significant medical expense shortfalls. Having the right cover in place is essential as a safety net to prevent potential accidents from financially ruining both your holiday and the foreseeable future.
Where the shortfalls occur
Car accidents can cause significant injuries to drivers and passengers, from relatively minor injuries like whiplash, cuts, abrasions, and fractures, to major problems like head trauma and spinal injuries. For minor wounds, a trip to the emergency room is often warranted, but these visits may not be covered by medical aids, especially if they do not result in hospital admission. This can leave patients out of pocket for unanticipated expenses that they have not budgeted for and that can put a dent in holiday plans.
More serious injuries may require hospitalisation, which will typically be covered by medical aids, but there may be co-payments involved with visiting a non-Designated Service Provider (DSP) hospital. In addition, specialists such as surgeons and anaesthetists frequently charge many times the medical scheme rate for their services, and most medical schemes will cover up to 200% of the scheme rate, leaving significant shortfalls.
Protecting your financial future
Gap cover has become an essential tool to help mitigate the rising risk of large medical expense shortfalls, which frequently occur as a result of accidents. Without gap cover, you will be liable to cover these shortfalls out of your pocket, and this is not the kind of money that most people simply have lying around. Payment plans will need to be made, which puts you in a difficult financial situation for years, or you will have to cash in on investments to cover the bills.
At a time of year when everyone wants to wind down and relax, having unanticipated medical expenses that run over R100,000 will not only ruin your holiday, but it can also cause hardship a long way into the future. Speak to your broker or financial advisor to make sure you are covered this holiday season, so you have peace of mind that should the unthinkable happen, you will at least not be left with massive bills to pay.
About Turnberry Management Risk Solutions
Founded in 2001, Turnberry is a registered financial services provider (FSP no. 36571) that specialises in Accident and Health Insurance, Travel Insurance, and Funeral Cover.
With extensive experience across healthcare and insurance industries in South Africa, Turnberry offers unsurpassed service to Brokers and clients. Turnberry’s gap cover products are available to clients on all medical aid schemes, as they are independently provided and are therefore transferable in the event of a change in the client’s medical aid scheme.
Turnberry is well represented nationally, with its Head Office based in Bedfordview, Johannesburg with Business Development Managers in Cape Town and Durban. The Turnberry Team’s focus on outstanding client service comes from having extensive knowledge and experience in the financial services sector and is underwritten by Lombard Insurance Company Limited. Lombard Insurance Company Limited is an Authorised Financial Services Provider (FSP 1596) and Insurer conducting non-life insurance business.
