Insurance Industry – 12th December 2023
Brian Harris, GM Operations at Turnberry Management Risk Solutions
As we approach the festive season, many people are planning their time off, which often involves travel, and in the current economic climate, many people are visiting local destinations, which means vastly increased traffic on our national roads. With increased traffic there inevitably comes an increase in accidents, which can result in severe injuries. While avoiding an accident is always first prize, they can and do unfortunately happen, and if or when they do, they can incur significant medical expense shortfalls. Having the right cover in place is essential as a safety net to prevent potential accidents from financially ruining both your holiday and the foreseeable future.
Where the shortfalls occur
Car accidents can cause significant injuries to drivers and passengers, from relatively minor injuries like whiplash, cuts, abrasions, and fractures, to major problems like head trauma and spinal injuries. For minor wounds, a trip to the emergency room is often warranted, but these visits may not be covered by medical aids, especially if they do not result in hospital admission. This can leave patients out of pocket for unanticipated expenses that they have not budgeted for and that can put a dent in holiday plans.
More serious injuries may require hospitalisation, which will typically be covered by medical aids, but there may be co-payments involved with visiting a non-Designated Service Provider (DSP) hospital. In addition, specialists such as surgeons and anaesthetists frequently charge many times the medical scheme rate for their services, and most medical schemes will cover up to 200% of the scheme rate, leaving significant shortfalls.
Protecting your financial future
Gap cover has become an essential tool to help mitigate the rising risk of large medical expense shortfalls, which frequently occur as a result of accidents. Without gap cover, you will be liable to cover these shortfalls out of your pocket, and this is not the kind of money that most people simply have lying around. Payment plans will need to be made, which puts you in a difficult financial situation for years, or you will have to cash in on investments to cover the bills.
At a time of year when everyone wants to wind down and relax, having unanticipated medical expenses that run over R100,000 will not only ruin your holiday, but it can also cause hardship a long way into the future. Speak to your broker or financial advisor to make sure you are covered this holiday season, so you have peace of mind that should the unthinkable happen, you will at least not be left with massive bills to pay.
About Turnberry Management Risk Solutions
Founded in 2001, Turnberry is a registered financial services provider (FSP no. 36571) that specialises in Accident and Health Insurance, Travel Insurance, and Funeral Cover.
With extensive experience across healthcare and insurance industries in South Africa, Turnberry offers unsurpassed service to Brokers and clients. Turnberry’s gap cover products are available to clients on all medical aid schemes, as they are independently provided and are therefore transferable in the event of a change in the client’s medical aid scheme.
Turnberry is well represented nationally, with its Head Office based in Bedfordview, Johannesburg with Business Development Managers in Cape Town and Durban. The Turnberry Team’s focus on outstanding client service comes from having extensive knowledge and experience in the financial services sector and is underwritten by Lombard Insurance Company Limited. Lombard Insurance Company Limited is an Authorised Financial Services Provider (FSP 1596) and Insurer conducting non-life insurance business.
What is Gap Cover?
I first learnt about Turnberry when my 1st born needed to get his own medical, and because medical schemes are so expensive, I had to take a plan which we could afford. I took out a Turnberry policy for him and when he was in a serious accident, we could not afford the cost of the helicopter which needed to fly him to Pretoria but Turnberry paid the expenses. That was when I decided to take out a Turnberry policy for myself as well. Because of your excellent services I have already promoted your product to all my friends and lot of them have also signed up with Turnberry. Thank you for your excellent service. I do not think that anyone with any medical scheme can be without your product. Lena Ras
If it wasn’t for gap cover I would have had enormous medical expenses. I have had to claim twice in one year. Don’t think about it just do it! It’s the right thing to do. One never knows when you might need the gap cover. I broke my foot just before lockdown due to a brick that was left on a pavement after someone had a motor vehicle accident and they kept the robot upright with the bricks. Whomever did that left some of the bricks on the pavement and at 5h00 in the morning I didn’t see the bricks… Needless to say I ran into the brick and that’s how I broke my foot. Unexpected medical disbursements which I did not budget for and already had to undergo two operations. I have had many expenses and I can truly recommend gap cover. I would recommend Turnberry Gap Cover and have already done so amongst my colleagues at the office. I rate their services as – Excellent! Louna van Tonder
Turnberry Gap Cover insurance has helped me financially after my accident with claims that I could never afford if I never got Turnberry GAP Cover. I have indeed told my family about Turnberry
For more testimonials on Turnberry’s support and service during and post claims which have been submitted, please go to the link below.