Immediate Cover Hospital Plan with No Waiting Period

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In this day and age of consumerism, we expect everything to happen at the click of a button and the moment we pay for it. However, the insurance industry does not work like this. Whether you are taking on a medical aid or a cash back policy, the reality is that immediate cover on a hospital plan does not exist. Do not be fooled by false promises as some unethical brokers may advise differently. There are specific waiting periods both for a medical aid and cash back plan that is in place to protect you and other members of the scheme or clients of the insurance industry. It is important to understand how these waiting periods work and what exactly they mean.

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What is a hospital plan in South Africa?

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The term ‘hospital plan’ is often confusing for most South Africans. There is talk about medical aids and insurance companies, getting cash for being in hospital and a host of jargon that flies above the head of most consumers. However, it is not all that confusing when you know the basics. A hospital plan usually refers to a type of medical aid plan or a type of insurance policy with cash payouts. In fact the financial products should more appropriately be referred to as a medical aid hospital plan or a hospital cash plan.

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