With Mental Illness on the Rise

With Mental Illness on the Rise, Disability Insurance is a Lifeline

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 GETTING BETTER.

As evidence of a sharp spike in cited in 62% of the psychiatric claims. mental illness continues to mount, There can be no doubt that the significant there is little doubt that we’re living through pressures of 2020 will take its toll on this a profound global trauma. The full extent of already embattled group. the crisis is yet to become clear, but we do When you suffer a major mental health know that more and more people are setback, good disability insurance can unable to work due to stress, anxiety, make all the difference when it comes to depression and other mental disorders. recovery. Old Mutual’s Disability Income

According to Karabo Ramookho, Old Cover is part of a ground-breaking new Mutual’s Strategic Retail Marketing range of personal cover that responds to Manager, mental illnesses were already your individual needs and budget. It on the rise, even before Covid-19, and she provides up to 24 monthly payments if predicts further increases in 2020. you are impaired, unable to work or can’t

Old Mutual’s 2019 personal cover claim take care of yourself due to an illness statistics show that the insurer has paid (including mental illness) or injury. This out 59% more in psychiatric disorder claims benefit means you can continue to take under disability income cover since 2016. care of your dependents and meet your 83% of the claimants were between 30 financial commitments. and 50 years old, with major depression What’s more, you can add the Income Extender Benefit to extend these monthly payments, as recovering from a mental illness can take time. “Knowing you have good disability insurance can reduce some of the anxiety of not being able to provide for your family – which, in turn, can only be good for your mental health,” says Ramookho.

Find out more at www.oldmutual.co.za/personal-cover or speak to your financial adviser.

Old Mutual Life Assurance Company (South Africa) Limited is a Licensed Financial Services Provider