Page 6 - GrowSA News September
P. 6
G R O W S A P A R T N E R
WITHMENTALILLNESSONTHERISE,DISSABILITY
INSURANCEISALIFELINE
The mental health fallout of COVID-19 has hit
working adults hard, leaving them – and their
loved ones – financially vulnerable. A new kind
of disability insurance from Old Mutual offers to
reduce financial anxiety when you can’t earn so
you can focus on ge�ng be�er.
As evidence of a sharp spike in mental illness
con�nues to mount, there is li�le doubt that
we’re living through a profound global trauma.
The full extent of the crisis is yet to become
clear, but we do know that more and more
people are unable to work due to stress,
anxiety, depression and other mental disorders.
According to Karabo Ramookho, Old Mutual’s
Strategic Retail Marke�ng Manager, mental
illnesses were already on the rise, even before
Covid-19, and she predicts further increases in
2020.
“Knowing you have good disability Old Mutual’s 2019 personal cover claim sta�s�cs
show that the insurer has paid out 59% more in
insurance can reduce some of the psychiatric disorder claims under disability
anxiety of not being able to provide income cover, since 2016.
83% of the claimants were between 30 and 50
for your family – which, in turn, can years old, with major depression cited in 62% of
only be good for your mental health,” the psychiatric claims. There can be no doubt
that the significant pressures of 2020 will take
says Ramookho. its toll on this already emba�led group.
When you suffer a major mental health setback,
good disability insurance can make all the
difference when it comes to recovery. Old
Mutual’s Disability Income Cover is part of a
ground-breaking new range of personal cover
that responds to your individual needs and
budget. It provides up to 24 monthly payments
if you are impaired, unable to work or can’t take
care of yourself due to an illness (including
mental illness) or injury. This benefit means you
can con�nue to take care of your dependents
and meet your financial commitments.
What’s more, you can add the Income Extender
Benefit to extend these monthly payments, as
recovering from a mental illness can take �me.
Find out more at www.oldmutual.co.za/personal-cover or
speak to your financial adviser.
September | GROWSA MONTHLY NEWS 6
