Getting Quality Risk Cover For Your Diabetic Client
Getting quality risk cover for your diabetic client Hayley Taylor, managing underwriter at specialist long-term risk cover provider Altrisk. Currently, around 382 million people live with diabetes worldwide, a further 316 million with impaired glucose tolerance are at high risk from the disease and by 2035, it is estimated that without concerted action to prevent diabetes, 592 million people will be living with this chronic disease. (International Diabetes Federation 2013 Atlas). South Africa has joined the ranks of nations with a high and rapidly growing prevalence of diabetes. In Africa, 76% of deaths due to diabetes were in people under the age of 60, and in terms of prevalence, South Africa clocks in at number two with 2.6 million diagnosed, after Nigeria which has the highest prevalence in Africa of 3.9 million diagnosed diabetics. It is estimated that another five million South Africans have pre-diabetes, a condition where insulin resistance causes blood glucose levels to be higher than normal, but not high enough yet to be type 2 diabetes. The highest prevalence of diabetes is among the Indian population in South Africa (11-13%) as this group has a strong genetic predisposition for diabetes. This is followed by 8-10% in the coloured community, 5-8% among blacks and 4% among whites. (Source: Centre for Diabetes and Endocrinology in Johannesburg.) What does this all mean for your clients financial planning? If you have clients who are diabetic, it is important to discuss how their condition will impact on their cover. Hayley Taylor, managing underwriter at specialist long-term risk cover provider Altrisk, says the financial consequences and economic impact of living with a serious illness such as diabetes are often overlooked. Heart disease, stroke, blindness, amp Continue reading >>
Life Insurance - Diabetes
So i was recently diagnosed with diabetes T2. I have life insurance since 2009 with disability cover and dread disease. All whole life. Spoke to former financial advisor who resigned, who says i will still be covered and do not need to advise Sanlam of my change in life circumstances. Now my questions for the FA/FP's on here: 2. How difficult is it to get life insurance once diabetic? So i was recently diagnosed with diabetes T2. I have life insurance since 2009 with disability cover and dread disease. All whole life. Spoke to former financial advisor who resigned, who says i will still be covered and do not need to advise Sanlam of my change in life circumstances. Now my questions for the FA/FP's on here: 2. How difficult is it to get life insurance once diabetic? I work in the Short Term Industry, but we have a Long Term division too. Always best to advise the insurers in any change in your circumstances to avoid any repudiation of claims in the future. Check with the company that has your policy and ask for their advice. Let me know if you come right, otherwise I can put you in touch with someone from our office that can perhaps assist you. "A verbal contract isn't worth the paper it's written on." - Samuel Goldwyn I work in the Short Term Industry, but we have a Long Term division too. Always best to advise the insurers in any change in your circumstances to avoid any repudiation of claims in the future. Check with the company that has your policy and ask for their advice. Let me know if you come right, otherwise I can put you in touch with someone from our office that can perhaps assist you. My existing FA resigned, so i need a new one. Always advise them. The last thing you want to hear is your claim has been denied. That being said, I don't see why it would make Continue reading >>
Dread Disease Rider
A dread disease rider is a special addition to a life insurance policy that gives a percentage of the death benefit to the policy holder if he or she is diagnosed with a serious disease, such as cancer or heart disease. A dread disease rider usually expires when the holder reaches age 65 and specifies which illnesses the policy will cover. Costs associated with critical diseases can be substantial enough to cause serious financial distress and even bankruptcy , thus necessitating dread disease rider insurance. Money from a dread disease rider is typically used to help offset the medical costs of the disease. The payout from the policy is usually made in a lump sum. The policy may instead be structured to pay out regular income and the payout may also be on the policyholder undergoing a surgical procedure, for example, having a heart bypass operation. The policy may require the policyholder to survive a minimum number of days, known as the survival period,from when the illness was first diagnosed. The survival period used varies from company to company, however, 14 days is the most typical survival period used. The contract terms contain specific rules that define when adiagnosisof a critical illness is considered valid. It may state that the diagnosis must be made by a physician who specializes in that illness or condition, or it may name specific tests that confirm the diagnosis. In some markets, however, the definition of a claim for many of the diseases and conditions have become standardized to encourage all insurers to use the same claims definition. The standardization of the claims definitions may serve many purposes including increased clarity of coverage for policyholders and greater comparability of policies from different offices. Types of ailments that migh Continue reading >>
Dread Disease 10 Things You Need To Know About !
Dread Disease 10 Things you need to know about ! This article was first published in the third-quarter 2014 edition of Personal Finance magazine. Performing heart and other organ transplants alongside his famous brother, Dr Christiaan Barnard, gave Dr Marius Barnard insight into how severe illnesses can affect the finances of those who contract them. Thanks to medical advances, such as heart transplants, Barnard realised that you are more likely to survive a major health crisis than to die from one, but surviving a serious illness and living with it may be a much greater drain on your finances than dying from the illness. Barnards thoughts turned to life assurance, and he realised the extent of the need for protection from the costs of surviving a severe illness. He persuaded a small South African life company, Crusader Life, to launch the first critical illness policy in 1983. Today, these policies are used worldwide and are referred to as severe illness, critical illness or dread disease policies. Initially, such policies covered you only against cancer, stroke, coronary artery bypass and heart disease, but now they offer financial protection for those diseases, as well as other life-altering events, such as the onset of Alzheimers or Parkinsons disease, paraplegia, major burns and brain damage. Since 1983, medical advances and a focus on healthy living have extended our lives, and with increased longevity comes increased risk of contracting a severe illness at an older age. Dr Eric Starke, the senior medical adviser at Sanlam, says that, although reliable South African statistics are difficult to obtain, international statistics place the lifetime likelihood of suffering from cardiovascular disease at one in two, strokes at one in six, and cancer at between one in t Continue reading >>
Dread Disease Cover | Health24
Medical aid is one insurance most of us see the benefits of quite early on. Over the course of time, most people will have reason to be grateful for their medical funds. Medical aid is one insurance most of us see the benefits of quite early on. Its annoying when claims get refused, or when one reaches the limit on, say, dental spending way too early in the year but by and large, over the course of time, most of us have reason to be grateful for our medical funds. Unless youre lucky enough to be a member of one of the more luxurious company medical aids, however, the picture gets a little less rosy should you be diagnosed with, say, cancer. Thats where Dread Disease cover has a role. Its designed to help with costs associated with lifestyle changes that arise from surviving a dreaded disease. For example, after surviving a heart attack, one may not be able to climb the stairs in a multi-storey home and so the installation of a mechanical lift may be required. Or having gone through cancer treatment , one may find oneself weakened, and reliant on domestic help. After-the-fact costs can be horrendous. Dread Disease cover is not a top-up to medical aid cover, and pays out only upon diagnosis and survival of a set of specific diseases. The four major conditions which should be covered by all policies are stroke , heart attack , cancer and coronary artery bypass surgery, although individual policies may list many others. Because this insurance isnt governed by Council of Medical Schemes rules, policies can specify the benefits and conditions under which they will pay out without being tied to minimum benefits. It also means that they can charge varying premiums depending on the policyholders state of health and other risk factors. To illustrate the different protective bene Continue reading >>
The Most Dreaded Diseases Aren't Necessarily The Most Deadly
The most dreaded diseases aren't necessarily the most deadly If you could choose the method, how would you want to die? Many people wish for a quick and painless demise, such as passing away peacefully in your sleep after having lived to a ripe old age. What we fear is a slow, lingering death from a painful disease. Unfortunately, this fear will come true for many of us. The federal Centers for Disease Control and Prevention reports that as of 2007, the top five causes of death in the United States were: 4.Chronic lower respiratory disease (chronic bronchitis, emphysema and asthma). The top 10 is rounded out by Alzheimers disease, diabetes, flu/pneumonia, nephritis (kidney ailment) and related disorders, and septicemia (blood infection). Interestingly, recent data on what illnesses Americans fear most doesn't line up the most common causes of death. In a survey conducted in 2010 by Harris Interactive for insurer MetLife , Americans said they most feared cancer and Alzheimers, followed by heart disease, stroke and diabetes. Cancer was far and away the most feared disease, with 41 percent of people surveyed naming it, followed by Alzheimers at 31 percent. The number of people who feared these two diseases rose compared with a benchmark 2006 survey cancer fear rose 3 percentage points while Alzheimers shot up 11 percentage points. At the same time, the fear of heart disease, stroke and diabetes declined. The nations actual No. 1 killer heart disease was named the most feared disease by just 8 percent of those polled, with stroke gaining a similar share of the vote. Only 6 percent of people in the MetLife survey feared diabetes. Clearly, Americans perceptions are out of whack when it comes to worrying about diseases theyre statistically most likely to suffer. But their fea Continue reading >>
Definition Of 36 Critical Illnesses Or Dread Diseases In Insurance Policy
Most policy holder who bought the common 36 critical illnesses coverage (also known as 36 dread diseases), will have the definition clearly stated in their life insurance policy. Here is the definition taken from Great Eastern Life insurance policy. Other life insurance company also uses the same definition although some wordings might vary. Anyway, the general definition should be the same. Here is the list: 1. Heart Attack The death of a portion of the heart muscle (myocardium) as a result of inadequate blood supply and being evidenced by:- (a) A history of typical prolonged chest pain; and (b) New electrocardiographic changes resulting from this occurrence; and (c) Elevation of the cardiac enzyme (CPK-MB) above the generally accepted laboratory levels of normal. Diagnosis based on the elevation of Troponin T test alone shall not be considered diagnostic of a heart attack. Angina is specifically excluded. 2. Stroke Defined as a cerebrovascular accident or incident producing neurological sequelae of a permanent nature, having lasted not less than six months. Infarction of brain tissue, hemorrhage and embolisation from an extra-cranial source are included. The diagnosis must be based on changes seen in a CT scan or MRI and certified by a Consultant Neurologist. Specifically excluded are cerebral symptoms due to transient ischaemic attacks, any reversible ischaemic neurological deficit, vertebrobasilar ischaemia, cerebral symptoms due to migraine, cerebral injury resulting from trauma or hypoxia and vascular disease affecting the eye or optic nerve or vestibular functions. 3. Coronary Artery Disease Requiring Surgery Refers to the actual undergoing of coronary artery by-pass surgery by way of thoracotomy to correct or treat coronary artery disease but not including angio Continue reading >>
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- Why Being Social Can Be Scary When You Have Chronic Illnesses
Diabetes Is No More A Dreaded Disease: The Role Of Ganoderma
Diabetes is No More A Dreaded Disease: The Role of Ganoderma Human cells need sugar (glucose) as their energy source. Glucose can only enter the cells if it has a "key", which is insulin. Insulin is a hormone produced by beta cells in the pancreas. What results in high blood glucose level? - when insulin (the key) in the blood is insufficient. - when insulin cannot "open the doors" to the cells. - when beta cells die, causing insufficient amount of insulin to be produced. - when fasting (before meal) blood glucose exceed 130 mg/dl (7 mmol/l) - when postprandial (after meal) blood glucose exceed 180 mg/dl (10 mmol/l) Type 1 - insulin-dependent diabetes mellitus (congenital) - usually takes place in childhood between ages of 10 and 14. - possible causes - virus invasion, chemical medicine, autoimmunity . - patients are dependent on insulin supplementation for the rest of their lives, as their beta-cells are unable to produce insulin. Type 2 - non-insulin dependent diabetes mellitus (maturity-onset or acquired) - characterized by high blood glucose in the context of insulin resistance (insulin become less effective in lowering blood sugar) and relative insulin deficiency. - affects 2% to 3% of women during pregnancy. Controlling diabetes requires great patience and persistence. Dietary restraint is the most important step to control diabetes. Regardless, Lingzhi/Ganoderma plays an important role. Here are some supporting scientific research results: Prof. Zhi-Bin Lin of Beijing Medical University found evidence on the ability of ganoderma to: - prolong the lifespan of beta-cells, as it is effective in eliminating free radicals. Hence, ganoderma is potent in diabetes prevention and treatment. A general rule derived from past experience is that, the lower the dosage being u Continue reading >>
Diabetic Life Insurance Companies
Yes, sometimes it can be difficult to find the right company to get a life insurance policy from if you are living with Type 1 or Type 2 diabetes. For most businesses, you might be a high-risk client, and they do not want to take the chance. There are companies out there like All Life that know you struggle and need some help. It is why they specialize in offering people with diabetes simple, straightforward and fast cover. They want to assist you and make the process for you as simple as possible. Immediate cover with a simple underwriting process is just a phone call away (and a blood test to determine your severeness). A person with diabetes faces any health issues like strokes, heart attacks, kidney failures and more every day. That is why you will be covered for everything as well as cancer, disability, and accidental death. The needs of the company are comprehensive, and you will have to look at the following: As part of this policy, you will be reminded to undertake your scheduled blood tests and follow your diabetes program and healthy lifestyle with great discipline. This way your life cover company will help you maintain your diabetes and help you to live a long happy life with your family. Remember, it is just a phone call away and once you are approved there is no waiting period. Continue reading >>
Diabetes - The Dreaded Disease | Benoni City Times
November 14 is World Diabetes Day and this years theme is Women and Diabetes: our right to a healthy future. According to the National Department of Health, more than half of South African women are overweight or obese, with the statistic for black women being as high as 60%. Some of the risk factors for developing diabetes include: Having given birth to a baby that weighed over 4kg at birth, or having gestational diabetes during pregnancy Having high cholesterol or other fats in the blood Having high blood pressure or heart disease Dr Kuven Naidu, head of the East Rand physicians group elaborated on diabetes as well as the symptoms one should look out for. People usually present with initial symptoms of thirst, frequency of urination, weight loss, blurred vision amongst other symptoms. Naidu said when looking to diagnose diabetes, blood needs to be taken to see if the person has a fasting glucose of over 7mmol/l; a random glucose of over 11.1 or an HbA1c greater than six per cent. It can affect anyone. The national prevalence of diabetes in 2012 in people over the age of 15 years was estimated to be nine per cent. he said. Naidu said people of any age can get diabetes and that having the correct diet was extremely important. Avoiding foods high in refined carbohydrates and opting for carbs found in whole grains, legumes, vegetables and fruit are important. he said. Depending on the type and severity of the diabetes, medical options include both oral tablets, insulin therapy and other injectables. There are different types of diabetes with notable differences. Type 1 Diabetes this is when the Beta cell from the pancreas (which produces insulin) is destroyed leading to insulin deficiency (i.e the body does not have insulin and so the blood sugar drops) Type 2 Diabetes t Continue reading >>
Diabetes And Neuropathy Feature
Neuropathy most commonly occurs in feet, arms, hands and legs. Neuropathy is one of the most common diabetes complications, affecting between 60% and 70% of people with diabetes at some stage. Neuropathy simply means nerve damage, and can occur in every organ system but most commonly in the feet, arms, hands and legs. Neuropathy is most common amongst people who have had diabetes for at least 25 years, and also more common amongst those who have trouble controlling their blood glucose . Furthermore, those who are overweight and have high blood pressure face a greater risk. Neuropathy can be caused by high blood glucose, abnormal blood fat, damage in the blood vessels, autoimmune factors, injury to nerves, inherited traits and lifestyle factors such as alcohol or smoking . Symptoms depend on the type of neuropathy but can include: Dobbs : I also had neuropathy for a time (which is what led me to discover I was diabetic) but after about a year of controlling my levels it subsided considerably and now I'm rarely aware of it and it almost never bothers me. I do believe tight control of your levels is the only way towards longer-term improvement, but these other suggestions are great if they bring a bit of relief while you're waiting for things to improve. Lillibet : Tight control of blood glucose can in some cases reverse neuropathy - though to what degree I dont suppose anyone can say. Ive also read of supplements which can help: Alpha Lipoic, Acid, Evening Primrose Oil, Benfotiamine, Vit C Roy948 : I have similar burning sensations in my ankles and feet, ask you doctor to try a capsule called LYRICA, for me it has worked wonders. Donal Bredin : I have suffered for a few years with this. It seems to get worse in cold weather. This winter after getting it bad I did a numbe Continue reading >>
Critical Illness / Dread Disease Cover
Theyre the eventualities no-one wants to think about the kind of diseases that give you a giant and expensive battle, or leave you with a lifetime of medical costs. A speaker at a conference I was at told the audience that everyone there would have a major medical expense at least once in the next 10 years, and that we should make sure we were covered. I remember thinking: surely he is referring to the others in the audience and not me Unfortunately it turned out that our family was one of the early participants: we had a child end up in ICU for 11 days. Our medical scheme was sufficient to cover all of that. But when we left the hospital, thats when the bills started mounting up. Alls well that ends well they say and fortunately the story has a happy ending. People are funny about talking about things like death or cancer. We encounter so many people who have not drafted a will somehow there seems to be this underlying belief that if you dont do it or think about it, then it might not happen. Conversely, there is a belief that if you draft your will you are tempting fate and thats not something you really want to be doing. Newsflash, you are going to die one day, will or no will! In the same vein we all know someone who has or has had cancerwe talk about the big C as if the very mention of the word could infect us. Medical knowledge and expertise have some such a long way that by far the majority of people who contract cancer these days live to talk about it. Stats show that the average 40-year-old male has a 55% probability of contracting a life-changing critical illness by the age of 75 (37% for women). And while the probabilities may be in your favour it is the financial consequences that need to be considered and planned for. Medical aids and insurance are cost-ef Continue reading >>
Why Diabetic A Dreaded Disease
Diabetes has become so common that people dont take it a serious disease anymore. Pre-diabetic can be as many as half of population above 40 years old. A big mistake is downplaying the significant of pre-diabetic, diabetic and the danger of sugar. The health complications that diabetes fosters are many, including but not limited to the following: High blood pressure, heart disease, and stroke 75 percent of diabetics have high blood pressure (130/80 mm Hg or higher). Death from heart disease and risk for stroke is 2 to 4 times higher among people with diabetes. Blindness Diabetes is the leading cause of new cases of blindness among adults aged 20 to 74 years. 5% of diabetic in the world end up with total blindness. Kidney disease Diabetes is the leading cause of kidney failure. Every year 4,000 people require hemodialysis and began hemodialysis in Malaysia. Hemodialysis is not a perfect treatment because heavy metals are not removed and in afew years more serious cardiovascular disease set in. Nervous system disease About 60 to 70 percent of people with diabetes have mild to severe forms of nervous system damage such as : impaired sensation or pain in hands or feet, poor digestion, carpal tunnel syndrome and erectile dysfunction. Amputations Every year 100 lower limb amputations due to diabetes in the state of Pelis. Perlis population is just over 200 thousand populations and the rate of amputation in states are the same. If the rate is the same, the number of amputations of lower limb in Johore state can be no less than 1000 people yearly. Dental disease Almost one-third of people with diabetes have severe periodontal disease Pregnancy complications Poorly controlled diabetes before conception and during the first trimester of pregnancy among women with type 1 diabetes Continue reading >>
Alleviate The Financial Burden Associated With Illness
Alleviate The Financial Burden Associated With Illness Alleviate The Financial Burden Associated With Illness February is the month of love! Coincidentally, its also Healthy Lifestyle Awareness month, which means South Africans may also want to show a little self-love by adopting a healthy lifestyle. Like in most other urbanised countries, lifestyle diseases are ever prevalent in our society and we ignore the risks associated with the way we live our lives, to our own detriment. Unhealthy habits like tobacco use, alcohol abuse, an unhealthy diet and physical inactivity are the biggest risk factors for lifestyle illnesses such as cardiovascular diseases, cancer and diabetes. Other significant factors are age, weight and family history. Obesity can develop at an early age and a family history of cancer or cardiovascular disease places people at a greater risk. Leading a healthy lifestyle is extremely important to help prevent illness, but its equally critical to pay attention to your financial planning as the financial pressures associated with lengthy illnesses and expensive treatment can be devastating. Many people make the mistake of believing that a good medical scheme is sufficient to protect them against the financial implications of critical lifestyle illnesses. Depending on the severity of ones condition and the length of the recovery period, one may be temporarily unable to work or even be permanently disabled. No amount of medical scheme cover will be enough to cope with the financial consequences in these instances. Therefore, the three important areas of cover that everyone with financial responsibilities should consider are dread disease cover, income protection and disability cover. You should have a financial plan that will ensure that if life happens, you Continue reading >>
Critical Illness Insurance
This article has multiple issues. Please help improve it or discuss these issues on the talk page . A major contributor to this article appears to have a close connection with its subject. It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view . Please discuss further on the talk page . This article needs additional citations for verification . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed. ( Learn how and when to remove this template message ) Critical illness insurance, otherwise known as critical illness cover or a dread disease policy, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy . [1] The policy may also be structured to pay out regular income and the payout may also be on the policyholder undergoing a surgical procedure, for example, having a heart bypass operation. The policy may require the policyholder to survive a minimum number of days (the survival period) from when the illness was first diagnosed. The survival period used varies from company to company, however, 14 days is the most typical survival period used. In the Australian market, survival periods are set between 8 14 days. The contract terms contain specific rules that define when a diagnosis of a critical illness is considered valid. It may state that the diagnosis need be made by a physician who specialises in that illness or condition, or it may name specific tests, e.g. EKG changes of a myocardial infarction, that confirm the diagnosis. In some markets, however, the definition of a claim for many Continue reading >>
