1 The Income Continuation Benefit PROTECTING YOUR INCOME Income protection ensures that your lifestyle will not be affected if you become disabled or severely ill. Discovery Life s Income Continuation Benefit is a market-leading product that will pay your monthly income if you are unable to work due to a disability or severe illness. You can choose to have your policy cover you up to age 60, 65, 70 or for whole of life. With the Whole of Life option, a new set of tailored medical criteria will be used after age 70.
2 HOW WE ASSESS YOUR CLAIM Under the Automatic Sickness Underpin, you will not need to prove loss of income for the first 12 months (24 months for certain professionals in private practice or partnership), and you can claim by simply submitting a doctor s note. Under the Loss of Income Underpin, you will qualify for a payment if you lose income as a result of a disability or severe illness. With the LifeTime Severe Illness Underpin, you will receive up to 215% of your insured amount for up to six months, depending on the long-term lifestyle impact of the illness. If you qualify for a Category B disability claim, you will get 50% of your insured amount for up to five years, with the Capital Disability Underpin. If you are hospitalised or suffer a qualifying fracture, you will get 100% of your insured amount for up to three months with the Injury and Hospitalisation Underpin.
3 THE INCOME CONTINUATION BENEFIT DESIGNED TO TAKE CARE OF YOUR FINANCIAL NEEDS, THROUGH THESE UNIQUE BENEFITS: Immediate upgrade to 100% of your pre-disability income Temporary Income Continuation Benefit If you become permanently disabled, you will be upgraded to 100% of your income (after tax). If less than 40% of your income is selected as your insured amount, you will receive an automatic upgrade of 2.5 times your insured amount. We will also waive your waiting period. Meet your upfront expenses with a lump-sum disability payment If you qualify for a Category A disability claim you can receive an upfront lump-sum payment of up to 36 times your Income Continuation Benefit amount, based on the LifeTime Impact of the disability. This payment is over and above your regular monthly benefit payments. You can increase your insured amount during the first two years of becoming disabled or severely ill, to up to 100% of your monthly income (after tax) by selecting the Temporary Income Continuation Benefit. Family Protector on the Comprehensive Income Continuation Benefit With the Family Protector, we will pay 100% of your insured amount for up to six months if your spouse or child suffers a severe illness (Severity A or B), or 100% of your insured amount for one month if your spouse passes away.
4 Cover for your other Discovery product premiums on temporary disability The Contribution Protector covers your premiums for your other Discovery products at 100% for up to 24 months on the Comprehensive option, or 25% for up to 12 months on the Core option, on temporary disability. Discovery Life will pay out the same amounts on retrenchment or liquidation of your business (if you are a business owner), for up to six months. Additional monthly payout for HealthLiving products The HealthyLiving Protector on the Comprehensive option allows you to protect up to 100% of all HealthyFood, HealthyCare and HealthyGear spend, until your benefit expires, when combined with the discount you receive from Vitality. Protection for daily travel The Transport Protector offers you access to Uber services, up to R5 000 if you are unable to drive, due to an injury. Increase your payment every year during claim Increase your payment each year by CPI or CPI + 3%, or choose to keep your payment level. Increase your cover without underwriting Increase your cover without underwriting every three years by 20%, subject to a negative HIV test, with the Guaranteed Insurability Benefit. This is particularly valuable if you expect your income to grow faster than inflation. Retrospective payment If you select a seven-day waiting period, you may get backdated payments from day one if you suffer from an injury or illness that qualifies for retrospective payments. Similarly, certain professionals in private practice or partnership may also qualify for backdated payments on the one-month waiting period.
5 TAKE CARE OF YOUR RESPONSIBILITIES AS A BUSINESS OWNER Choose the Overhead Expenses Benefit and enjoy monthly funding for your business expenses while you are disabled. Product features include: The option to choose between a seven-day and one-month waiting period. Similar to the Income Continuation Benefit, payments may be backdated to day one. ENJOY FAST, FAIR CLAIMS At Discovery Life, we take every measure to ensure that your claims are processed quickly, and your benefits are paid out fairly. With HealthID, an innovative application that places your health records in your doctor s hands, claims can now be submitted and assessed electronically. Discovery s Claims Concierge service will assist in coordinating your care if your illness requires it. Benefits will be payable for up to 24 months, or until the benefit expiry age of 60, 65 or 70 is reached, whichever is sooner. With the Automatic Sickness Underpin, you will not need to prove that your share of qualifying overhead expenses are not being met by any income you still receive.
6 Discovery Life 155 West Street Sandton PO Box 3888, Rivonia 2128 Contact centre Fax Speak to your financial adviser about the range of Discovery Life products to suit your individual, personal or business needs, or visit Discovery Life is an authorised financial services provider. Registration number 1966/003901/06 LPBE03/15 GM_31966DL_16/04/15_V1
The formula for successful investing DISCOVERY RETIREMENT OPTIMISER PERFORMANCE PROTECTION EFFICIENCY MAXIMISE YOUR RETIREMENT SAVINGS USING YOUR LIFE PLAN Discovery Invest is an award winning provider
& Summary of Life Insurance and Disability Insurance Programs For Physicians/Faculty Members Effective April 1, 2005 UMMMG/UMMS Provided Long Term Disability Coverage Optional Supplemental Long Term Disability
How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings 1 Many people think of life insurance as something they ll need when they get a bit older and want to ensure their loved
The confidence of knowing that you are protected CLAIM STATISTICS INSIGHTS 2013 1 CLAIM STATISTICS INSIGHTS 2013 The confidence of knowing that you are protected We don t know what life has in store for
Allianz Life Insurance Company of North America Understanding fixed index annuities M-5217 Page 1 of 12 Page 2 of 12 It s time to rethink retirement. In past years, the financial markets have experienced
Fact File RETIREMENT PLANS The Retirement Plans are built on the best thinking, the most tax efficient structures and the best investment strategies. These aspects ensure that you save for a more comfortable
Flexible Lifetime Protection Product Disclosure Statement (including Plan Rules) Issued 19 May 2014 protect those you love with the one who s IMAGE AREA been there DS DS DS AWAR AWAR AWAR 2 2 013 013 Legal
Questions and Answers New Brunswick Drug Plan December 10, 2013 1) What is the New Brunswick Drug Plan? The New Brunswick Drug Plan is a prescription drug insurance plan that provides drug coverage for
YOUR GROUP LIFE INSURANCE PLAN For Employees of State of North Carolina 6CC000 B-9321 11-04 (electronic) CONTENTS CERTIFICATION PAGE............................................. 1 SCHEDULE OF BENEFITS...........................................
Insurance handbook Peace of mind for VicSuper FutureSaver members and their families 1 July 2015 Contents Contents Need help with the calculations? Take advantage of our online insurance calculators to
Term life insurance from Great-West Life Cost-effective, flexible and convertible coverage It s about your needs Convert to a longer term If you elect a term 10 life insurance policy, you can convert to
Key Features of the Just Retirement Fixed Term Annuity This brochure outlines the key features of the Just Retirement Fixed Term Annuity. The Financial Conduct Authority is a financial services regulator.
INSURANCE KEY FEATURES OF THE: Relevant Life Plan This is an important document which you should keep in a safe place. This is a guide to our Relevant Life Plan and is based on our understanding of current
Group Voluntary Life Insurance For Employees of The California State University Standard Insurance Company Voluntary Group Life Insurance About This Brochure This brochure is designed to answer some common
Duke University Health System Benefits Overview: Exempt 2015 We are pleased to provide you with information about your benefits at Duke. Our organization is rich in heritage and is proud of its work. While
TR SU ANS T TULI OM S R C I TI Q U NE T STA T T CU TI E CONNE F C O P T RO L L E State of Connecticut Employee Benefits A message from Kevinlembo connecticut s state comptroller Dear Fellow State Employee,
Benefits Overview M&T Bank understands how important benefits are to you and your family. The benefit plans are designed to meet the varying benefit needs of each employee. Since benefits are a significant
YOUR RETIREMENT OPTIONS A guide from Irish Life Committed to Plain English There is no financial jargon in this booklet and everything you need to know is written in an upfront and honest way. We are delighted
Palladium Single Premium Immediate Annuity With Cost Of Living Adjustment Income For Now... Guaranteed Income For Life! A Single Premium Immediate Annuity Issued By Income for Your Needs Now and in the
Sunsuper for life Insurance guide Learn more about your insurance Identify your insurance needs Preparation date: 9 June 2015 Issue date: 1 July 2015 INSURANCE IN YOUR SUPER Contents 1 Why have insurance?
WCB-ALBERTA Employer Handbook Effective January 2015 Working for a safe, healthy, strong Alberta Employer responsibilities for work-related injuries and illnesses: Report work-related injuries within 72
ANNUITY PRODUCTS TRAINING COURSE Single Premium Immediate Annuity The Sagicor Gold Series Single Premium Immediate Annuity (SPIA) turns a single lump-sum deposit into a reliable and consistent income stream.
University of Rochester Group Life Insurance Guide Protect your family s FINANCIAL FUTURE Protect your family Save for your future To help protect your family s financial future, the University of Rochester
LIFE INSURANCE Product Disclosure Statement This product and Product Disclosure Statement are issued by Suncorp Life & Superannuation Limited ABN 87 073 979 530 AFSL 229880 under the brand, AAMI. Contents
plain talk about life insurance The right life insurance can have an enormous effect on your life and the lives of those you love. It can mean the difference between leaving your loved ones well positioned
Group Optional Life Insurance For Employees Participating In OEBB Plans Standard Insurance Company Group Optional Life Insurance About This Brochure This brochure is designed to answer some common questions
EMPLOYEE GUIDE Group Life and Conversion and Conversion Side by Side. A Simple Way to Compare Your Options. Your group life insurance from The Hartford 1 is valuable financial protection for you and your
RetireIncome Annuity Plan HSBC Life (International) Limited HSBC Life (International) Limited ( the Company ) is incorporated in Bermuda with limited liability, and is one of the HSBC Group s insurance