Best gap cover in South Africa in 2023: Top 10 list and more

Unexpected and unforeseen circumstances happen in life, and being unprepared for them can mean finding yourself in dire financial distress. In this regard, having a gap cover is pivotal to ensuring you receive a helping hand from your insurance company. Let us learn more about the best gap covers in South Africa as of 2023.

South Africa has a variety of the best gap covers which are distinct from medical aid schemes. Some have no waiting periods, while others do. Furthermore, such a cover from different medical insurance companies can finance in and out-of-hospital expenses.

The best gap cover

The 'gap' bridges the amount between what medical aid schemes cover and what healthcare providers charge. This article discusses only the best in 2023:

1. Sanlam Comprehensive Gap Cover

For a low monthly premium of R246 for individuals and R429 for families, the Sanlam gap cover ensures that its members are not left with large excess amounts to settle. Some of its benefits include receiving cash for every day spent in the hospital due to an accident or premature birth.

2. Absa Extended Cover

This insurance cover offered by Absa is tailored for vehicle-related matters. For R104 per month, you can access benefits such as Road Accident Fund assistance, photofinish and violation cover. However, to qualify, the purchase of your car must be financed by Absa.

3. Zestlife Universal

Zestlife Universal affords its members comprehensive shortfall benefits for as little as R327 per individual under the age of 55 and R413 for those over 55 years. This cover’s benefits include general and specialist in hospital consultations and approximately 50 out of hospital procedures.

4. Momentum Gap Cover

Importantly, Momentum’s gap cover allows beneficiaries to bridge the gap of any unexpected medical costs shortfall. If you are 30 years or younger, you can get a cover of R219 per month, which will afford you benefits of up to R178,000 per annum, trauma and bereavement counselling included.

5. Discovery Gap Cover

Starting from R130 per covered member, Discovery Health’s gap cover benefits include cover for shortfall approved emergency international claims, pays 250% of the medical scheme rate on the core option and 500% on the comprehensive option.

6. Old Mutual Gap Cover

R225 per month gets you the Old Mutual cover even if you and your spouse are on different medical aid schemes. Medical tests for this cover are not compulsory and its benefits package includes shortfall payments of up to 100% on maxillofacial or spinal surgery.

7. Auto & General Essential

Auto and General’s essential gap cover does not cover any medical expenses that do not fall under the category of those covered by your medical aid scheme and it offers immediate cover with no waiting period. The insurance company also covers shortfalls of approved medical procedures.

8. Liberty Essential

Liberty remains a trusted brand among South Africans, which provides various health and financial products in South Africa at affordable rates. Their essential gap cover provides R173,000 in shortfall expenses for covered members and an addition of accidental injury fees and out-of-hospital fees for specialists and doctors.

9. Bonitas Medgap

Bonitas offers its members the most affordable gap cover packages from a premium rate of R226 for individuals and R334 for families in the supreme package. It covers hospitalisation fess and medical treatment expenses.

10. Turnberry

The Turnberry gap cover protects clients and their families from bearing hefty medical expenses uncovered by their medical aid. R525 per month covers a family of members under the age of 65. The package’s benefits include R185,837.63 per annum for one member’s medical expenses, casualty benefits, and co-payments for MRI, CT and PET scans.

A Santam gap cover

Santam is a South African insurance company that offers an array of insurance services to South Africans. A gap cover, such as a vehicle credit shortfall, is available to interested vehicle owners. It assists its members in covering the difference between the vehicle’s retail value and how much was paid in its purchase, in instances where the car is stolen or written off.

What is a complimed gap cover?

A complimed gap cover is a shortfall insurance that covers additional medical costs, whose monthly premium is less. Accordingly, it covers the difference between the fees charged by specialists and the funds provided by the medical aid.

Gap cover comparison

The Stratum Compact 300 is a comparatively low gap cover for individuals and families. With a cover for common health events, the gap cover issues funds annually of up to R 177,838 per person covered. Its premiums for individuals 64 years old and younger are R257, while for those above the age of 65 are R490.

Distinguishably, the Sirago Gap-Lite Cover is specifically meant for young families and individuals, who can have their medical shortfalls covered at 250% of their medical aid scheme rate. Importantly, this cover pays R183,000 annually towards in-hospital medical expenses.

Is a gap cover worth having?

Having a gap cover is extremely important since medical aid shortfalls happen. Therefore, if you have medical aid, you should also have a gap cover to complement it for instances where your medical aid does not have sufficient funds to cover all medical expenses you might have.

Which gap cover has no waiting period?

Among many medical insurance companies in South Africa, the Zestlife gap cover does not have a three-month waiting period. It offers immediate cover from the inception of the policy date. It is important to note that submitting a claim relating to pregnancy or cancer treatment is not covered for the first 12 months.

Who offers the best gap cover in South Africa?

Liberty offers the best gap cover through its Liberty Universal Gap, which provides extensive payments for shortfalls in treatments and procedures conducted in and out of hospital. Claims are covered at a medical aid scheme rate of 500%.

What is the best medical scheme in South Africa?

Reports state that Bestmed is regarded as the best medical aid scheme in South Africa according to overall customer satisfaction. Under this medical aid scheme, members are offered 75% less on co-payments for medical expenses. Additionally, it gives members free health assessments and visits to the dietitian through its Tempo Wellness Programme.

Does a gap cover finance in-hospital expenses only?

Laws that govern medical expenses differ for various companies. There are a few that only cover in-hospital expenses and for situations where a person finds themselves requiring cosmetic surgery, costs for the procedure in question will have to be financed without any assistance from gap cover.

How long do you have to wait for a Sanlam Gap Cover?

A general waiting period of three months applies to all benefits offered by the Sanlam gap cover. This period also applies to individuals and families under the age of 60 who pay monthly premiums of R246 and R429.

This article has provided important information regarding different gap covers in South Africa, their monthly premiums and what benefits they offer. The salient feature in the article has been the importance of having a gap cover in addition to medical aid in order to mitigate the expenses that are not covered by medical aid schemes.

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