International Womens’ Day – Benefits offer women peace of mind and optimal well-being
Whether single, divorced or married, women these days are increasingly taking control of their financial affairs. Even if household budgeting and finances are left to their husbands, at a certain stage of their lives women have to take responsibility for their financial affairs as, on average, women live seven years longer than men.
“It is paramount that women budget cautiously, realistically and timeously to make provision for the proverbial rainy day and ensure that they have the necessary insurance cover, including health insurance, should they – and their dependants – need a costly operation or treatment,” says Liberty Medical Scheme (LMS) Executive Principal Officer, Andrew Edwards.
“Conversely, without adequate medical insurance, a serious car accident which will invariably lead to costly hospitalisation and an operation, or serious illness requiring ongoing treatment may ruin single women financially and may even cost the lives of their loved ones,” Edwards adds.
Often divorced women are particularly vulnerable as many of them find themselves without medical insurance after an acrimonious divorce. Likewise, without sufficient medical insurance or as a result of the spouses’ medical expenses, elderly widows may live in poverty during old age.
True to its promise to care for each of its members at various life stages, LMS offers women, female dependants and breadwinners a number of benefits to ensure peace of mind and optimal health and well-being, says Edwards.
Liberty Baby, for example, is a comprehensive ‘toolkit’ for mothers and pregnant women, providing them with a handy due date calculator, an A-Z of pregnancy and maternity, infant care, baby stimulation and related family matters. “Whatever the query or question, Liberty Baby will have the answer.”
In addition, LMS ensures that women have peace of mind in terms of cancer screening and treatment. A number of LMS options include preventative oncology benefits such as annual mammograms, while the scheme’s new flagship option, Prestige, pays 300% of the scheme rate for approved treatment with no limit.
“Cancer kills more than seven million people a year throughout the world – more than HIV/Aids, tuberculosis, and malaria combined. African countries, including South Africa, carry a large part of this burden. LMS is also a committed partner of the PinkDrive effort to improve breast cancer awareness and education across South Africa and especially in remote communities that do not have access to information on breast health,” says Edwards.
Edwards adds that LMS options are designed in such a way that a number of preventative care benefits are paid from risk rather than from savings accounts. In addition, a number of extended benefits such as crime trauma, ultrasound during pregnancy and MRI/CT scans, are also paid from risk, all of which are of particular importance to single women who, as sole breadwinners, more often than not find it difficult to balance their books and can ill-afford to deplete their savings accounts too soon.
Equally beneficial for single women, without or without dependants, who need to manage their finances carefully and prudently, is the host of option specific benefits such as cover for professional sports and hazardous pursuits, basic and advanced dentistry, cover for chronic medicines and immunisations, unlimited oncology benefits and unlimited casualty/emergency room visits. In addition LMS charges only for the first three child dependents, while full-time students up to the age of 27 pay child rates.
“Bearing in mind that a significant number of our members are single women, young and old, who do not have the advantage of joint incomes, LMS revises and reviews its scheme options every year, not only to ensure that the benefits appeal to all members, but that they meet their needs and are appropriately priced and affordable for both male and female members.
“Moreover, given the volatile environment in which we live, it is no longer a choice of whether a woman should or should not have medical insurance; it’s a matter of getting a medical scheme that best meets her needs, emotionally and financially, thus ensuring peace of mind in any circumstances,” concludes Edwards.
