- Mar 13, 2017
You can gamble by trying to go the savings route but if a serious illness strikes one or more family members you are in major trouble. Just this year alone, Covid and cancer in my small family cost Discovery more than R700 000. It will take a long time to make up amounts like that by trying to save your medical aid contributions instead of getting a medical aid..Something I discussed with family and friends at one point, is that even for those who had medical operations and claims, it would have been significantly better for them to take their medical aid contributions over the year and invested them into conservative investments with relatively short periods to release the money (30 days).
The only issue is getting the first ~R200k for that initial safety net.