It seems to me that I hear of more and more individuals in our community in recent times that have had their health compromised due to cancer, heart attack, stroke, etc. Once their health is compromised, their financial future is also at risk, but it doesn’t have to be. The video tells the story of a heart surgeon who worked with a life insurance company to develop Critical Illness coverage. This is coverage that pays you if you get sick, so you don’t have to worry about finding ways to pay your bills and keeping your house, and can instead focus on getting better.
Critical Illness Cover explained by Dr Marius Barnard
Dr Marius Barnard was a member of the pioneering medical team that performed the world's first human heart transplant at Groote Schuur Hospital in 1967 with his brother Christiaan. He spent a large part of his career working to improve cardiac surgery behind the iron curtain and globally, specialising in heart surgery for newborn babies.
Recognising that due to medical advances his patients were surviving illnesses they would previously have died from, Marius witnessed first hand the financial impact this survival had on them and their family. He sought a solution to help future patients and worked towards an insurance product that paid out not on death, but on the diagnosis of a particular illness. With the help of Crusader Life Insurance in South Africa, the first policy was launched in 1983.