People urged not to cancel medical aid as lockdown bites into salaries
164 days ago
JOHANNESBURG - With many South Africans faced with retrenchments and salary cuts, consumers are urged to think beyond the COVID-19 outbreak before making major financial decisions.
According to experts, many people are likely to consider cancelling their medical aid and gap cover as the state of their finances worsen.
They've advised consumers to consider options to make premiums cheaper before cancelling their cover.
Health insurance expert, Tony Singleton: "I think the key thing is to involve the financial adviser in assisting them because they will be able to provide a number of alternatives. The types of alternatives they could look at could possibly be downscaling their medical aid, to still keep medical aid but possibly, if there is an affordability issue, to critically look at what's required."
WATCH: COVID-19 Situation Desk - 16 April 2020 PM
This article first appeared on EWN : People urged not to cancel medical aid as lockdown bites into salaries