GAP cover is a short-term insurance product that is designed to provide additional financial protection for individuals who have medical aid coverage in South Africa. In many cases, medical aids do not cover the full cost of medical treatments and procedures, leaving individuals with out-of-pocket expenses that can be quite substantial.

GAP cover is designed to fill this gap, providing coverage for the difference between the medical aid pay-out and the actual cost of medical treatments.

 

GAP cover typically covers medical treatments and procedures that are excluded from medical aid coverage or that exceed the limits of medical aid coverage.

Examples of covered expenses can include specialist consultations, in-hospital treatment, and diagnostic tests. Depending on the policy, GAP cover may also provide coverage for emergency medical transportation, co-payments, and deductibles.

 

In South Africa, GAP cover policies are offered by a number of insurance providers. Policyholders can choose from a range of coverage options and benefit levels, depending on their individual needs and budget. Premiums for GAP cover policies are typically lower than those for full medical aid coverage, making it a more affordable option for individuals who want additional protection against medical expenses.

 

It's important to note that GAP cover is not a substitute for medical aid coverage. Rather, it is designed to complement medical aid coverage and provide additional financial protection. Individuals who are considering purchasing a GAP cover policy should carefully review the terms and conditions of the policy, as well as the coverage limits and exclusions, to ensure that they understand what is covered and what is not covered. Additionally, it's important to work with a qualified financial advisor to choose the right GAP cover policy for their needs and budget.