Lauded as the three keys to financial security, home insurance, retirement savings and healthcare cover are key to protecting one’s assets. Of these three ‘grudge purchases’, medical aid is seemingly the most unpopular and is therefore the most overlooked of the insurance options.According to findings released by independent research house, Specialist Research, 50% of South Africans falling within the R2, 500 - R10, 000 income bracket regard saving for retirement as extremely important. Meanwhile, having medical cover only rates as extremely important to a mere 20% of people within this segment of the population.While plenty of the disposable income generated by South Africa’s black population is being spent on big brand, tangible purchases that portray status, there is also recognition of longer-term gratification in the form of savings. These South Africans seem to rate saving for their children’s education and even protecting their families by getting their own life insurance, as very important. But again, medical aid fails to find pole position within this upwardly mobile, urban society. According to Lithole, it’s time people started to realise that one’s livelihood depends on one’s health.“As soon as you can afford medical aid, you owe it to yourself and your family to check out the different options and get your health covered”, explains Lithole.You can’t go wrong by speaking to an accredited broker, who is experienced enough to assess your budget and healthcare needs and match these as closely as possible to suitable scheme options.Lithole suggests you remember the following:• It’s vitally important that you provide your broker with all the information they require, so that they can assess your and your family’s medical history and current and future healthcare needs. If you withhold information about a medical condition or potential family illness, this could really count against you as you could find that your scheme may refuse to pay for costs incurred for undisclosed conditions. There is no point in going to the trouble of getting medical cover if in the end your scheme can’t meet your medical costs.• If you can’t afford comprehensive medical cover then seriously consider a hospital plan. In a medical emergency, this will mean the difference between getting the best treatment in a private hospital versus having to be admitted to a government facility.• If you are planning to have a baby, then be aware that basic related pregnancy costs and delivery are in the region of R30, 000 (assuming it is a straight-forward delivery). Ensure you get cover that has generous in- and out-of-hospital maternity benefits so that you won’t have to dip into savings to cover the shortfall.Lithole believes that now is an important time for people to insure their most prized possessions. Healthcare should really be given priority. And if for no other reason, than because failure to obtain cover for unforeseen medical emergencies could result in severe financial burden.Contact Details:Elizabeth SengeriChoices021 425 7111elizabeth@trafficonline.co.zawww.ichoices.co.za