Speak to your financial adviser before making a decision affecting your medical aid and expenses.
To enjoy a comfortable retirement you must take care of yourself physically and mentally. As you get older you will find that your body is not as strong as it used to be. You will need to work at achieving maximum vitality. Make sure that your weight, blood pressure, feet, hearing, teeth and vision are in excellent condition. If you feel unwell, or have persistent illnesses, visit your GP immediately.
As you get older, you are more susceptible to disease and illness. Your medical costs will probably be one of your more burdensome expenses after retirement, so you must look after yourself – prevention is better than cure. Besides the monetary expense, illness can also cause emotional stress that could lead to depression and lethargy.
When it comes to medical expenses, you generally have three options:
If you do not belong to a medical aid scheme by the time you retire, then you will need to apply for membership from a number of different medical schemes to determine the best underwriting terms available to you as an individual.
It is likely that a scheme will apply individual underwriting and you will therefore be subject to general and condition-specific waiting periods as follows:
In view of these penalties, consider joining an option that provides good hospital cover and once your waiting periods have expired, upgrade to a more comprehensive option