[LISTEN] Choosing medical cover that won’t break the bank

Certified Financial Planner Paul Roelofse chats to Aubrey about choosing the appropriate financial plan.

I deliberately chose the word ‘appropriate‘ because many members want to know what the best plan is for them says Roelofse. From my point of view, one can only know what’s best if you can compare it with hind sight he adds.

Roelofse says that it’s a very tricky topic. He adds that medical plans are becoming complex.

It’s that time of year right now where we need to make those choices for what cover we need for next year.

Paul Roelofse, certified financial planner

Roelofse says that there is an appropriate plan out there but you need to make sure you don’t extend yourself on the plan. You need to make sure that the big bills are covered says Roelofse. He adds that if affordability is a problem, you should choose a plan that covers you adequately.

My advice would be that whatever plan it is – make sure it has a good solid, unlimited access to hospitals.

Paul Roelofse, certified financial planner

If you don’t have a savings account then premiums are cheaper says Roelofse. If you have a savings account then your money divided by 12 in the premium he adds.

Essentially, medical aid is insurance says Roelofse. He adds that schemes work on the principle of contributions received covering claims paid out. You get what you pay for says Roelofse.

Don’t get lolled into these cheap ones that are offered to you at the robot.

Paul Roelofse, certified financial planner

Listen to the audio below for tips on finding the right medical aid...


This article first appeared on 702 : [LISTEN] Choosing medical cover that won’t break the bank


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