According to Oliver Werneyer, an actuarial specialist at Liberty Life Product Development and Support, a dread disease benefit is best described as “peace of mind” that affords you the luxury of not needing to be concerned about the impact of a serious disease on your lifestyle.
“You will be covered for diseases such as cancer, stroke, heart attack, neurological diseases (e.g. Alzheimer’s, Parkinson’s, etc.), loss of limbs, loss of eyesight and many more.
“The payout from this benefit is intended to be used to make lifestyle changes that are necessary to cope or treat this dreaded disease, for example, buying specialist medical equipment not covered by medical aid, making adjustments to your house to accommodate your new condition, and so on,” says Werneyer.
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