Why critical illness cover is essential

CRITICAL illness cover is still treated as a luxury in South Africa, something for the wealthy or overly cautious, rather than a financial necessity.

- DIEKETSENG MALEKE

Yet actuarial estimates show that more than 24 000 formally employed South Africans will be diagnosed with a serious illness like cancer, a heart attack or a stroke in 2025. Despite this, over 85% of income earners have no critical illness cover at all.

I used to be one of them. Like many others, I assumed that medical aid would be enough.

It wasn’t until a close friend, healthy, active, and in her early 40s, was diagnosed with a serious illness that I realised how quickly life can change.

She had to take extended time off work, and while her medical aid covered some of the treatment, it didn’t come close to covering everything.

The financial strain was immediate. Her family had to dip into savings, take out loans, and rely on support from friends. It was a wake-up call.

The 2025 Insurance Gap Study by ASISA and True South Advisory includes critical illness cover for the first time.

According to actuary WS Nel, who led the research, this marks a significant expansion of the study’s scope.