Severe Illness Insurance for Living Through Trauma
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This document discusses severe illness insurance and the risks of various illnesses. It notes that heart disease is a leading cause of death worldwide. In South Africa, 1 in 3 men and 1 in 4 women will suffer from cardiovascular disease before age 60. There is also discussion of risks of stroke, cancer, and other illnesses. The document then introduces the Greenlight Illness Benefits insurance plan, which provides financial protection for the costs of surviving illnesses through lump sum payouts. Key aspects of the Greenlight plan include benefits for severe illnesses, extensive illnesses, and coverage for children.
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Severe Illness Insurance for Living Through Trauma
- 1. Severe Illness Insurance Insurance for the Living
- 2. In South Africa, one in three men and one in four women will suffer from cardiovascular disease before they reach the age of 60 Source of reference: www.heartfoundation.co.za The comprehensive risk management plan for life
- 3. Did you know that in the global list of top five causes of death and dread disease in 1990 - heart disease is ranked fifth? Source of reference: www.heartfoundation.co.za The comprehensive risk management plan for life
- 4. It is predicted that by 2020 heart disease will top the global list of top five causes of death and dread diseases Source of reference: www.heartfoundation.co.za The comprehensive risk management plan for life
- 5. In South Africa, there is 1 heart attack every 8 minutes Source of reference: www.heartfoundation.co.za The comprehensive risk management plan for life
- 6. About 400,000 of the South African population is affected by stroke Source of reference: www.health24.co.za The comprehensive risk management plan for life
- 7. 25% of all strokes occur in people under the age of 45 Children as young 8 as can be affected Source of reference: www.vhf.co.za The comprehensive risk management plan for life
- 8. 1 in 35 women are at risk of breast cancer Source of reference: www.heartfoundation.co.za The comprehensive risk management plan for life
- 9. There are 10 million new cancer cases world-wide per annum 5,3 million – males 4,7 million – females Source of reference: www.cansa.co.za The comprehensive risk management plan for life
- 10. Death versus Survival The comprehensive risk management plan for life
- 11. Over 80% of heart attack patients admitted to hospital survive Source of reference: www.ourkids.net The comprehensive risk management plan for life
- 12. Many people do survive a stroke, but it can have a devastating impact Only 10% of stroke survivors recover completely Up to 53% of survivors are left completely or partially dependant on their families or caregivers Source of reference: http://health.iafrica.com The comprehensive risk management plan for life
- 13. In the 1940’s only 72% of women diagnosed with breast cancer survived 5 years The 5-year survival rate has increased to 97% Source of reference: www.aventis.co.za The comprehensive risk management plan for life
- 14. Are you financially prepared for a severe illness? The comprehensive risk management plan for life
- 15. Why do you have to be prepared? • Days off from work • Actual costs associated with severe illnesses • Rehabilition programmes • Homecare • Incidental expenses • Alternative therapy The comprehensive risk management plan for life
- 16. Your bills do not go away when you survive a heart attack, stroke or cancer… The comprehensive risk management plan for life
- 17. Almost 50% of bankruptcies and 48% of mortgage foreclosures in North America are due to a severe illness Source of reference: www.niagarahealth.com The comprehensive risk management plan for life
- 18. How can you be financially prepared? The comprehensive risk management plan for life
- 19. ‘Life insurance protects dependants against dying too soon’. ‘Retirement and savings provides for those living too long’. Illness Benefits provide for the cost of surviving a trauma event today. The comprehensive risk management plan for life
- 20. The Greenlight Illness Benefits • Covers cost of surviving an illness • One of a flexible range of Greenlight benefits • Lump sum payment • Cover for life The comprehensive risk management plan for life
- 21. The Greenlight Severe Illness Benefit • Covers you against a wide range of illnesses • Stand-alone version: Severe Illness Plus (Core/Comprehensive) Benefit • Accelerator version: Severe Illness (Core/Comprehensive) Benefit • Choice of cover style – whole-life, term or step cover • Pays out 100% of Cover Amount – NO severity levels The comprehensive risk management plan for life
- 22. The Greenlight Severe Illness Benefit Heart Brain/Nervous system • Heart attack • Stroke • Open-heart surgery (incl. • Coma Coronary artery bypass graft) • Multiple sclerosis • Motor neurone disease • Aortic surgery • Accidental brain damage • Heart transplant • Dementia (incl. Alzheimer’s) • Cardiomyopathy • Parkinsonism • Benign brain tumour Cancer • Bacterial meningitis Gastrointestinal Respiratory • Liver transplant • Lung transplant • Chronic respiratory failure • Pancreas transplant • Chronic liver failure Connective Tissue • Rheumatoid arthritis The comprehensive risk management plan for life
- 23. The Greenlight Severe Illness Benefit Urogenital/Kidney • Kidney transplant • Kidney failure Other • Bone marrow transplant • Paralysis • Muscular dystrophy • Accidental HIV via blood transfusion • Accidental HIV via organ transplant • Accidental HIV for medical, dental or nurse practitioners • Severe aplastic anaemia The comprehensive risk management plan for life
- 24. The Greenlight Extensive Illness Benefit • Covers you against all the illnesses covered under the Severe Illness (Comprehensive) Benefit • Also covers you against mild illnesses • Mild illnesses pay a specified percentage of Cover Amount • NOT based on severity levels • Minor lifestyle adjustments • Claims for mild illnesses do not reduce the Cover Amount for other illnesses • Stand-alone: Extensive Illness Plus Benefit • Choice of cover style – whole-life, term or step cover The comprehensive risk management plan for life
- 25. The Greenlight Extensive Illness Benefit • Mild events: • Angioplasty and/or stenting (10%) Correct a narrowing/blockage of artery(ies) • Cardiovascular keyhole or catheter techniques (30%) Repair a heart valve • Pacemaker insertion (30%) • Pathway ablation (10%) Correct irregular heart beat • Carotid artery narrowing (30%) • Cerebral aneurysm (30%) Enlarged/weakened blood vessel in brain • Inflammatory bowel disease (30%) • Pulmonary embolism (30%) Blood clot in lung • Systemic lupus erythematosis (30%) Immune system acts against own tissues • Diabetes (10%) • Cushing’s disease (10%) Hormone disorder The comprehensive risk management plan for life
- 26. The Greenlight Child Severe Illness Benefit • Stand-alone only • Pays out 100% then benefit ceases • Choice of cover style: • Term • Step • Covers many of illnesses covered under the Severe Illness (Comprehensive) Benefit and some child-specific illnesses The comprehensive risk management plan for life
- 27. Multiple Claims • This feature available only on • Severe Illness PLUS Benefit and • Extensive Illness PLUS Benefit • Available on stand-alone benefits only • A claim will not reduce the Cover Amount, nor will the benefit cease • Related claims events will be removed – severe and mild illnesses function separately Severe Illness Severe Illness Mild Illness Mild Illness suffered removed suffered removed Stroke Heart attack, stroke, open- Diabetes Angioplasty and/or heart surgery, coma stenting, diabetes Parkinsonism Coma, dementia, Pacemaker insertion Angioplasty and/or parkinsonism stenting, pacemaker insertion, pathway ablation The comprehensive risk management plan for life
- 28. Claims statistics Based on Old Mutual’s claim payments for the period of 1 January 2003 to 31 May 2004 The comprehensive risk management plan for life
- 29. Create comprehensive cover Create comprehensive solutions by combining an Illness Benefit with other benefits from the Old Mutual suite • Oxygen Medical Scheme • Greenlight Savings Benefit - preserve risk benefits • Greenlight Physical Impairment accelerator - comprehensive cover against physical impairments as well as illnesses The comprehensive risk management plan for life
- 30. Most people never plan to fail - but fail to plan. Don’t let this be you. Get a Greenlight Illness Benefit today! The comprehensive risk management plan for life
- 31. Thank you The comprehensive risk management plan for life