Discovery Life versus Old Mutual Greenlight

Size: px
Start display at page:

Download "Discovery Life versus Old Mutual Greenlight"

Transcription

1 Discovery Life versus Old Mutual Greenlight The Discovery LIFE PLAN is designed to offer you flexible personal and business financial protection against death, disability and severe illness at a cost effective premium to suit your needs. Our life insurance goes beyond the norm: its intelligent design means that your insurance can remain cost effective while adapting to your changing circumstances WE HAVE ALSO RECEIVED NUMEROUS AWARDS AND RECOGNITIONS INCLUDING: Discovery Life was voted the top life assurer in the most recent Sunday Times Top Brands Survey. Discovery Life won awards from 2007 to 2013 in the Financial Intermediaries Association of South Africa (FIA) Awards. PricewaterhouseCoopers surveyed the CEOs of South Africa s leading long-term insurers who agreed that Discovery is the market leader in life risk products and innovation. Discovery Life s Capital Disability Benefit is a market-leading product with comprehensive cover, a powerful loss-ofincome underpin and unique features, such as comprehensive multiple claims and the Dynamic Spend Protector. Clients can also choose the LifeTime Capital Disability Benefit, which can increase payouts to up to 200% of a client s sum assured. Our Capital Disability product has been further enhanced through the BenefitBooster, which can boost payouts of the accelerated Spouse Capital Disability Benefit by up to 40% at no additional premium. With this competitor analysis we aim to provide you with a better understanding of our Discovery Life Capital Disability Benefit as compared to Old Mutual.

2 DISCOVERY LIFE USES SUPERIOR CLAIMS ASSESSMENT CRITERIA Discovery Life s Capital Disability Benefit provides extensive whole body coverage through the use of comprehensive claims definitions, including objective medical criteria, Activities of Daily Living, loss of income and ability to perform one s nominated occupation. Simultaneously assessing clients claims based on multiple criteria ensures certainty at time of claim and provides unmatched breadth of coverage for permanent, partial and temporary disability. Discovery s claims criteria fall within four claims levels: Category A: Pays out 100% of the benefit amount if according to the objective medical criteria or Activities of Daily Living, the disability is total and permanent. Category B: Pays out 50% of the benefit amount if according to the objective medical criteria or Activities of Daily Living, you have a partial permanent disability. Category C: While waiting for permanence of your condition to be established you will receive a payout of 2.5% of your sum assured at the end of every four months if you suffer a loss of between 80% and 100% of your income (only available on the Classic LIFE PLAN). Category D: Pays out 100% of the benefit amount if you are permanently unable to perform your nominated occupation because of an injury or illness Old Mutual does not offer clients all of these claims criteria and even the claims criteria they do offer have a number of short falls. Old Mutual does has not have a loss of income claim underpin The ability to receive payments while permanence of the condition is being established is unique to Discovery Life s Capital Disability Benefit. In 2012, 1 in 4 of our Capital Disability Benefit claims was under the Category C underpin. In other words, 25% of our claims would not have been paid at Old Mutual. Case study The value of the Category C underpin can be seen from an actual claim experienced by a client. This client suffered chemical and thermal burns and qualified for three Category C payments of R per payment before being diagnosed as permanently unable to perform his nominated occupation. During the time taken to determine that the disability was permanent, the client received R from Discovery but wouldn t have received any payments from Old Mutual. These payments can be incredibly valuable to clients as they are typically experiencing higher than normal expenses and can also be losing income while they are disabled. Old Mutual s objective medical criteria are less comprehensive Objective medical criteria are the primary means of assessing the extent and permanence of disabilities. Discovery s list of objective medical criteria is far broader than Old Mutual s. For example, under the Nervous system category, Discovery covers complete destruction of both optic nerves, profound short-term memory loss and paralysis of two limbs with loss of bowel or bladder function, none of which Old Mutual covers. In most instances, where Old Mutual covers a condition, there is only one criterion for a claim to qualify, whereas with Discovery there are multiple criteria for a claim to qualify on. For example, Old Mutual only covers visual impairment where there is bilateral visual impairment of 70% and at least one of four other criteria being met. Discovery covers visual impairment under complete destruction of both optic nerves, less than 20/200 Snellen rating bilaterally or 70% visual acuity impairment.

3 Another example is that the loss of or loss of use of one limb could result in a 100% claim with Discovery, whereas at Old Mutual this will only generate a 75% claim. A 100% payment requires two limbs to be involved. Old Mutual s criteria are often much more strict than Discovery s. For example, to claim for cancer with Old Mutual, a client must be diagnosed with at least a stage III cancer and be unable to perform a specified number of Activities of Daily Living. With Discovery, if the client is diagnosed with one of a specified list of cancers, they qualify for a claim immediately. Another example is cauda equina syndrome. Having Cauda equina syndrome will result in a 100% payment at Discovery. Old Mutual will only make a 100% payment if there is radiculopathy and clinical signs of neurological impairment, inability to perform a specified number of ADLs and evidence of a cauda equine abnormality. Discovery offers higher payouts There are also many conditions where Discovery Life will pay more than Old Mutual. Examples include hernias where Discovery will pay 100% of the sum assured and Old Mutual will pay 50% and either hemianopia or complete loss of sight in one eye, either of which Discovery will pay 50% for whereas Old Mutual will pay 25% for. Discovery uses comprehensive Activities of Daily Living Discovery Life makes use of the internationally recognised Activities of Daily Living (ADL s) to assess disabilities where there is a significant impact on the client s ability to live a normal life, but these disabilities are not explicitly covered under the medical definitions. This system assesses the client s ability to perform various tasks that occur during daily life. If they are unable to perform a specified number of ADL s, they can qualify for a payment. Discovery Life s ADL s cover a wide range of activities and enable a comprehensive assessment of a client s ability to lead a normal life. Old Mutual uses ADL s within their claims criteria as additional claims critieria, i.e. the client must meet a medical definition and fail a specified number of ADL s to qualify for a claim. Old Mutual only cover 11 distinct tasks in two categories, whereas Discovery covers 35 tasks in six categories. ADLs such as memory, concentration, problem solving, judgement and reasoning and executive function including planning, initiation, organising and error monitoring) are particularly suitable in assessing mental disorders. Old Mutual s ADLs only cover these functions to a very limited degree. Maintaining relevant cover for whole of life With increasing life expectancy, many people will be forced to work longer to ensure sufficient retirement savings. With Discovery Life, clients can choose a benefit expiry age of 65 or 70. In addition, the Capital Disability Benefit automatically converts to the Severe Illness Benefit (Severity A and B) at benefit expiry age, without medical underwriting. This automatic conversion gives clients protection against the risk of not being able to obtain severe illness cover at retirement. This highlights how the benefits of the LIFE PLAN change to reflect clients changing needs. In 2012, Discovery Life converted R182 million of Capital Disability cover into Severe Illness cover, which highlights the value of this automatic conversion.

4 With Old Mutual, clients can choose a benefit expiry age of 65, 70 or whole of life. On the whole of life benefit expiry age option, the occupational underpin falls away at the earlier of the client retiring or the benefit anniversary following their 69 th birthday, while only the Functional Impairment definitions remain. DISCOVERY LIFE HAS BENEFITS THAT ALLOW FOR THE LONG-TERM IMPACT OF DISABILITY The LifeTime Capital Disability Benefit assesses the impact that a disability has on an individual s loss of future income in order to boost the Capital Disability payout that a client receives by up to 200% of the sum assured. Claims assessment is based on a transparent clinical model that objectively measures the long-term financial impact of the disability. The average LifeTime boost in 2012 was 140%. Old Mutual has no comparable benefit. The highest payout clients can receive is 100% of the sum assured. The Dynamic Spend Protector dynamically protects the client against the cost of living increases. In the event of becoming disabled, it will increase the DiscoveryCard partner discounts according to your actual expenses. Through this benefit you can receive discounts of up to 50% on your fuel spend through the DiscoveryMotor card and at partner stores such as Pick 'n Pay. Case Study Mr. Crawford (aged 40 next) has R Capital Disability Benefit cover. He is involved in a motor vehicle accident and becomes a paraplegic (a Category A disability). His average DiscoveryCard partner spend at partners before disability was R4 000 per month. Present value of the additional payments received as a result of the Dynamic Spend Protector as a percentage of his lump sum Capital Disability payment INFLATION VITALITY STATUS Blue Bronze Silver Gold Diamond Low 10% 18% 29% 41% 58% High 18% 27% 45% 63% 89% Discount rate = 9% p.a.; Low inflation = 6% p.a.; High inflation = 10% p.a. Assuming high inflation, the present value of the discounts received through the Dynamic Spend Protector could be up to R , in addition to the R he received upon becoming permanently disabled. This benefit of Integration is unique to Discovery. DISCOVERY LIFE HAS A SUPERIOR MULTIPLE CLAIMS FACILITY This feature allows the client to enjoy continued protection after a claim. The unique structure of the LIFE PLAN allows clients to claim multiple times for disabilities, providing that there is still LIFE FUND available. It protects them against the risk of receiving significant loadings or exclusions on subsequent lump sum disability cover, or becoming completely uninsurable. With Old Mutual you will only receive a payout for a subsequent claim in the same category if it is of a higher severity, regardless of whether it is a progression or not. This payout will be based on the remaining cover after the first claim, and the benefit will cease as soon as the full cover amount has been paid out. Discovery's accelerated benefit allows you to receive more than your selected sum assured.

5 Monthly disability premium Case Study Mrs Joubert has a LIFE FUND of R2 million and Capital Disability cover at 50% of the LIFE FUND. She suffers from a brain disease causing complete aphasia, which qualifies for a 100% payout worth R1 million. A few years later she is involved in a car accident which leaves her paralysed. She qualifies for a full payout based on the reduced LIFE FUND, i.e. R She receives a total payout of R1.5 million. After these two claims Mrs Joubert will still have R Capital Disability cover with Discovery. If she had this cover with Old Mutual, the first incident would also have resulted in a R1 million payout. However, she will receive nothing for the second claim since Old Mutual's benefit ceases once a full payout has been made. COMPARING PREMIUMS R 180 R 160 R 140 R 120 R 100 R 80 R 60 R 40 R 20 R 0 Greenlight Extensive Disability (Own) Benefit Discovery Comprehensive PLUS Capital Disability Benefit Non-Integrated Discovery Integrated Discovery Integrated with LifeTime PLUS (high earnings) Assumptions: 40-year old male non-smoker on Essential LIFE PLAN; R1 million life cover, R1 million accelerated capital disability to 65; Standard / Level funding pattern. Integration includes 40% Cover Integrator, 20% Financial Integrator and Personal Health Integration. Therefore for a cheaper premium, this client can receive significantly higher payouts with Discovery by Integrating and purchasing the LifeTime Benefit. Below are examples of the higher payments they could receive: Discovery Old Mutual Paraplegia 180% 100% Stage IV Cancer 125% 100% Loss of use of hand 165% 50% Severity A heart attack 125% 100%

6 SUMMARY OF UNIQUE FEATURES Discovery Life Old Mutual Benefits based on objective medical criteria Comprehensive cover through the use of ADLs ½ Nominated occupation underpin (If selected) Cover while permanence is being established (Category C) (Classic LIFE PLAN) Cover up to age 70 Automatic conversion to the Severe Illness Benefit at benefit expiry age Ability to boost payments to up to 200% Affordability of basic living through the Dynamic Spend Protector (If LifeTime Benefit selected) (Classic LIFE PLAN) ½ (functional impairment cover if whole of life option selected) Extensive multiple claims facility (Classic LIFE PLAN) ½ Full cover throughout the benefit term (no tapering) Up to 40% additional Spouse Capital Disability Benefit cover at no additional premium through BenefitBooster Disclaimer: In formulating the information in this document, Discovery Life has taken care to make sure that the views and opinions are based on information that is relevant and accurate. The executive summary is an illustrative tool only. The information in this document can change without notice. If there is a conflict between provisions of this executive summary and the provisions of the policy contract, the provisions of the policy contract will be followed. While every care is taken before opinions and views are given, no representation, warranty or undertaking (expressed or implied) is given and Discovery Life accepts no responsibility for the accuracy of the information in this document. Any recommendations made must take into account your clients specific needs and personal circumstances. Any legal, technical or product information in this document is not to be taken as advice by Discovery Life. The product features described above vary by whether the policyholder selects a Classic or Essential LIFE PLAN and by the benefit options selected. 01/02/2014

DISCOVERY LIFE FOR PROFESSIONALS

DISCOVERY LIFE FOR PROFESSIONALS This brochure explains the products designed to meet professionals unique needs DISCOVERY LIFE FOR PROFESSIONALS Have you considered how to remain financially secure when you retire or if you become severely

More information

Product comparison Discovery Life and Sanlam

Product comparison Discovery Life and Sanlam Product comparison Discovery Life and Sanlam Description Page Funding patterns 3 Premium guarantees 6 Benefits for remaining healthy 7 Death benefit 9 Protection from adverse economic conditions 10 Minimum

More information

Product Comparison Discovery Life and Momentum Myriad

Product Comparison Discovery Life and Momentum Myriad Product Comparison Discovery Life and Momentum Myriad 1 Description Page Choice of LIFE PLAN 3 Funding patterns 4 Premium guarantees 7 Policy structure 8 Benefits for remaining healthy 9 Minimum Protected

More information

Ensuring a healthy, financially secure future for you and your family

Ensuring a healthy, financially secure future for you and your family The Life Plan A Ensuring a healthy, financially secure future for you and your family Discovery Life offers more than just life insurance Discovery Life offers a collection of customisable benefits covering

More information

why? this is how GREENLIGHT sees it

why? this is how GREENLIGHT sees it EARNING ABILITY LUMP SUM EARNING ABILITY COVER OCCUPATIONAL DISABILITY (OWN) BENEFIT OCCUPATIONAL DISABILITY BENEFIT DAILY TASKS BENEFIT why? When clients become disabled and can no longer work, they need:

More information

Comparing Discovery Life to key competitors

Comparing Discovery Life to key competitors Comparing Discovery Life to key competitors D ISCOVERY LIFE AND SANL A M CONTENTS FUNDING PATTERNS... 3 PREMIUM GUARANTEES... 6 BENEFITS FOR REMAINING HEALTHY AND DRIVING SAFELY... 8 BOOSTING YOUR COVER...12

More information

DISCOVERY LIFE PLAN GUIDE

DISCOVERY LIFE PLAN GUIDE DISCOVERY LIFE PLAN GUIDE This document will help you understand the finer details of your Discovery LIFE PLAN Contents Section 1 Welcome 2 Section 2 The LIFE PLAN 3 Section 3 When your cover starts and

More information

Comparing Discovery Life to key competitors

Comparing Discovery Life to key competitors Comparing Discovery Life to key competitors D ISCOVERY LIFE AND MOME NTUM CONTENTS CHOICE OF LIFE PLAN... 3 FUNDING PATTERNS... 4 PREMIUM GUARANTEES... 6 POLICY STRUCTURE... 7 ACCESSCOVER AND ACCESSCOVER

More information

Information Guide Booklet. Life Insurance

Information Guide Booklet. Life Insurance Information Guide Booklet Life Insurance This Information Guide booklet provides you with general information only. It will also help you to better understand any recommendations we have made for you.

More information

Must-haves for disability income protection

Must-haves for disability income protection Must-haves for disability income protection CHOOSING AN INCOME PROTECTION PRODUCT FOR DISABILITY? Ask yourself: 01 02 03 Will my claim get paid and how much will I receive? Can I get cover that matches

More information

New generation income protection

New generation income protection New generation income protection Reinventing disability and savings solutions life insurance There are major threats to our income. Becoming disabled during our working life. Becoming impaired during retirement

More information

INNOVATIVE 5-STAR SERIOUS ILLNESS COVER

INNOVATIVE 5-STAR SERIOUS ILLNESS COVER INNOVATIVE 5-STAR SERIOUS ILLNESS COVER FROM VITALITYLIFE VITALITY.CO.UK/LIFE YOU RE UP TO TWICE 1 AS LIKELY TO GET A PAYOUT FROM OUR SERIOUS ILLNESS COVER THAN YOU ARE FROM A TYPICAL CRITICAL ILLNESS

More information

Discovery Life Group Risk Benefit Summary ABC January 2013

Discovery Life Group Risk Benefit Summary ABC January 2013 Life Cover Benefit The Life Cover Benefit will pay a lump sum in the event of your employee s death, giving their families the financial support they need. The lump sum benefit can be set as a multiple

More information

INTELLIGENT LIFE INSURANCE

INTELLIGENT LIFE INSURANCE This brochure will provide you a guide on how to financially prepare for whatever the future might hold. INTELLIGENT LIFE INSURANCE Create a flexible, personal risk insurance solution Life insurance can

More information

Term Life Insurance. Permanent Life Insurance PRODUCT GUIDE 4987-02A-JUL14. LifePhases is marketed through PPI Solutions.

Term Life Insurance. Permanent Life Insurance PRODUCT GUIDE 4987-02A-JUL14. LifePhases is marketed through PPI Solutions. Term Life Insurance Permanent Life Insurance PRODUCT GUIDE 4987-02A-JUL14 LifePhases is marketed through PPI Solutions. This document is a summary of the various features of the LifePhases and LifePhases

More information

Priority Protection. Product Disclosure Statement Version 13, Date Prepared 1 March 2014. Life s better with the right partner

Priority Protection. Product Disclosure Statement Version 13, Date Prepared 1 March 2014. Life s better with the right partner Priority Product Disclosure Statement Version 1, Date Prepared 1 March 2014 Life s better with the right partner Important Notes This Product Disclosure Statement ( PDS ) describes the main features of

More information

KEY GUIDE. Financial protection for you and your family

KEY GUIDE. Financial protection for you and your family KEY GUIDE Financial protection for you and your family Protecting what matters most Life and health insurance protection underpins most good financial planning. These types of insurance can ensure that

More information

Macquarie Life Active Product Disclosure Statement. Macquarie Life

Macquarie Life Active Product Disclosure Statement. Macquarie Life Macquarie Life Active Product Disclosure Statement Macquarie Life Product Disclosure Statement jointly issued by: Macquarie Life Limited ABN 56 003 963 773 AFSL 237 497 and Macquarie Investment Management

More information

Competitor Comparison

Competitor Comparison Competitor Comparison Does your Client have the Best Income Protection Solution? Ask Yourself the Following Questions FMI Liberty Altrisk Momentum Discovery Old Mutual Product Flexibility Can my client

More information

Vista. Additional benefits

Vista. Additional benefits Vista Additional benefits By choosing to invest with Vista, you are planning to help ensure that you and your family will be able to afford a comfortable retirement, a holiday of a lifetime, a good education

More information

Priority Protection for Platform Investors

Priority Protection for Platform Investors Priority for Platform Investors Product Disclosure Statement Version 1.1, Date Prepared 22 August 2014 Life s better with the right partner Important Notes This Product Disclosure Statement ( PDS ) describes

More information

The Income Continuation Benefit

The Income Continuation Benefit 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

More information

The Business Life Plan

The Business Life Plan The Business Life Plan Rewarding your health, protecting your legacy We believe in protecting the financial wellness of your business with market-leading benefits and significant financial rewards for

More information

LIFESTYLE PROTECTION PLAN

LIFESTYLE PROTECTION PLAN LIFESTYLE PROTECTION PLAN LIFE TRAVEL CAR & HOME WARRANTIES COMMERCIAL VEHICLES Regent is an authorised financial services provider. WHAT IS THE LIFESTYLE PROTECTION PLAN? The Lifestyle Protection Plan

More information

Product Summary. Life s better with the right partner. Life Cover. November 2015. Complimentary Final Family Expenses. Why consider Life Cover?

Product Summary. Life s better with the right partner. Life Cover. November 2015. Complimentary Final Family Expenses. Why consider Life Cover? Product Summary November 2015 Life s better with the right partner This is a summary of the main features and terms of the AIA Australia Priority Protection for Platform Investors product. For full details,

More information

Priority Protection for Platform Investors

Priority Protection for Platform Investors Priority Protection for Platform Investors Product Disclosure Statement Version 12, Issued 8 June 2013 aia.com.au Life s better with the right partner Who issues Priority Protection for Platform Investors?

More information

Additional General Information regarding Personal Protection

Additional General Information regarding Personal Protection Additional General Information regarding Personal Protection Information regarding the research we used The research house we subscribe to regarding personal protection is Omnium. In a separate document

More information

Zurich Life Risk Trauma cover

Zurich Life Risk Trauma cover Product Summary Issued 21 December 2015 Zurich Life Risk Trauma cover Adviser use only Trauma insurance provides a lump sum payment on diagnosis or occurrence of a covered trauma. This is a summary only

More information

The value of the financial adviser in life insurance

The value of the financial adviser in life insurance The value of the financial adviser in life insurance Exploring the myths and realities of direct life insurance and the value of the financial adviser About this document This document gives the reader

More information

Term Assurance INVESTMENTS PENSIONS PROTECTION

Term Assurance INVESTMENTS PENSIONS PROTECTION Term Assurance About Canada Life Established in 1903, the Canada Life Group has grown to be a modern and dynamic international financial services business. We are part of Great-West Life, one of the world

More information

Keep Your Future on Course Protect Your Most Valuable Asset

Keep Your Future on Course Protect Your Most Valuable Asset Keep Your Future on Course Protect Your Most Valuable Asset Disability Income PROTECTION Contents Your Most Valuable Asset 1 Disability Could it Happen to You? 2 The Leading Causes of Disability 3 ProVider

More information

Loss of License Income Protection

Loss of License Income Protection I N s u r a n c e P i l o t I N d i v i d u a l o r G r o u p Loss of License Income Protection Atlas Underwriters, LLC Lloyds Correspondant What would you do if you are prohibited from FLYING? Pilot Insurance

More information

Sun Critical Illness Insurance

Sun Critical Illness Insurance Sun Critical Illness Insurance PRODUCT FEATURE SHEET CRITICAL ILLNESS INSURANCE gives you a lump sum payment if you are diagnosed with and survive an illness covered by your plan. Having this extra measure

More information

Considerations for Disability Insurance

Considerations for Disability Insurance Considerations for Disability Insurance 1. Purpose and Scope The following document is written by ASISA s Risk and Disability Committee and is intended to give an overview of the key issues that should

More information

Includes Tips & Tricks that could save you substantial $$$ and help make sure your claims get paid.

Includes Tips & Tricks that could save you substantial $$$ and help make sure your claims get paid. Includes Tips & Tricks that could save you substantial $$$ and help make sure your claims get paid. WHAT IS INSURANCE? It s simply the transference of a risk from yourself to the Insurer. By paying the

More information

At a glance. Income Protection. Protection to survive life s ups and downs.

At a glance. Income Protection. Protection to survive life s ups and downs. At a glance Protection to survive life s ups and downs. P r o t e c t i o n f i r s t Why Protection? With Protectionfirst you have peace of mind knowing that you and your family will be financially secure

More information

We understand you want the assurance to receive income in your retirement years

We understand you want the assurance to receive income in your retirement years SAVE We understand you want the assurance to receive income in your retirement years PRUgolden income Lifestyle Multiplier Benefit RETIREMENT Family Income Benefit & Disability Income Benefit Ease Inflation

More information

RETIREMENT INCOME PLANS

RETIREMENT INCOME PLANS The formula for successful investing RETIREMENT INCOME PLANS PERFORMANCE PROTECTION EFFICIENCY CHOOSE YOUR FUNDS AND INCOME IN RETIREMENT OR BUY A GUARANTEED INCOME FOR LIFE Discovery Invest is an award

More information

Comparing Discovery Life to key competitors

Comparing Discovery Life to key competitors Comparing Discovery Life to key competitors D ISCOVERY LIFE AND PPS CONTENTS CHOICE OF LIFE PLAN... 3 FUNDING PATTERNS... 4 RISK POOL & BENEFITS FOR REMAINING HEALTHY... 5 RISK POOL & BENEFITS FOR REMAINING

More information

Income protection cover. Let us provide an income when you can t

Income protection cover. Let us provide an income when you can t Income protection cover Let us provide an income when you can t Good management is better than good income. - Portuguese proverb Why do I need income protection cover? Most people plan and dream based

More information

Simply Smarter Life Insurance. Budget Direct Life Insurance and Budget Direct Accidental Death Insurance Product Disclosure Statement

Simply Smarter Life Insurance. Budget Direct Life Insurance and Budget Direct Accidental Death Insurance Product Disclosure Statement Simply Smarter Life Insurance Budget Direct Life Insurance and Budget Direct Accidental Death Insurance Product Disclosure Statement Budget Direct Life Insurance and Budget Direct Accidental Death Insurance

More information

Foresters Lifefirst Non-Medical Term Insurance

Foresters Lifefirst Non-Medical Term Insurance Special offer extended by popular demand Foresters Lifefirst Non-Medical Term Insurance Now available up to $350,000 Available through to age 55 No exams, no fluids, no APS, no routine PHIs No cost annualization

More information

AMP Risk Protection Plan Booklet. Protect what s most important to you

AMP Risk Protection Plan Booklet. Protect what s most important to you AMP Risk Protection Plan Booklet Protect what s most important to you No matter how cautious we are, the unexpected can happen to any one of us, at any time. And our lives can change in a split second.

More information

PLATINUM LIFE PLAN Premier cover

PLATINUM LIFE PLAN Premier cover Premier cover for a lasting legacy 2 Changing realities for generations to come We know that you ve worked hard to provide for your family over the years From building your career, buying a house and putting

More information

Professional Insurance Portfolio

Professional Insurance Portfolio Product Disclosure Statement Please read this Product Disclosure Statement carefully. It contains important information about the above product. Version 9 Issued 6 June 2014 Professional Insurance Portfolio

More information

How much insurance cover?

How much insurance cover? How much insurance cover? We consider life and TPD insurance coverage to be family protection it is about protecting your family. Life Insurance The purpose of life insurance is to provide your dependants

More information

Asteron Life Personal Insurance

Asteron Life Personal Insurance Asteron Life Personal Insurance What lump sum covers are available with Asteron Life Personal Insurance? Life Cover Life Cover insurance pays a lump sum of money if you pass away or become terminally ill.

More information

DISCOVERY LIFE S RANGE OF ADDITIONAL BENEFITS. Ensuring you and your family can afford life s expenses if you die, become disabled or severely ill.

DISCOVERY LIFE S RANGE OF ADDITIONAL BENEFITS. Ensuring you and your family can afford life s expenses if you die, become disabled or severely ill. Additional Benefits DISCOVERY LIFE S RANGE OF ADDITIONAL BENEFITS Ensuring you and your family can afford life s expenses if you die, become disabled or severely ill. The LifeDrive Protector LIFE AND

More information

TRANSAMERICA LIFE INSURANCE COMPANY Trendsetter LB 10 1. Life Insurance Supplemental Quote

TRANSAMERICA LIFE INSURANCE COMPANY Trendsetter LB 10 1. Life Insurance Supplemental Quote 1 Valued Client male age 45, preferred, non-smoker Initial ANNUAL Premium: Face Amount: Riders: $630.00 $500,000 NONE Life Insurance Money for your Beneficiary Face Amount $500,000 on the insured. Accelerated

More information

Protector AT A GLANCE

Protector AT A GLANCE CRITICAL INDIVIDUAL ILLNESS DISABILITY INSURANCE INSURANCE AT A GLANCE Protector AT A GLANCE Table of Contents Table of Contents Protector...1 Built-in Protector features...1...2 Basic policy........................

More information

Zurich Life Risk Zurich Protection Plus

Zurich Life Risk Zurich Protection Plus Product Summary Issued 1 March 2015 Zurich Life Risk Zurich Protection Plus Adviser use only Zurich Protection Plus is a flexible package which allows you to choose any combination of Death cover, TPD

More information

FutureWise Product Disclosure Statement. Macquarie Life

FutureWise Product Disclosure Statement. Macquarie Life FutureWise Product Disclosure Statement Macquarie Life Product Disclosure Statement issued jointly by: Macquarie Life Limited ABN 56 003 963 773 AFSL 237 497 and Macquarie Investment Management Limited

More information

Z Care. Sow the seeds of a resilient future

Z Care. Sow the seeds of a resilient future Z Care Sow the seeds of a resilient future Secure your best chances of recovery Despite an increasing trend in the number of people diagnosed with critical illness today, more are surviving it. Studies

More information

Trendsetter. LB Series. Product Overview

Trendsetter. LB Series. Product Overview Trendsetter LB Series Product Overview Trendsetter LB Series Life happens. Are you prepared? Sometimes we are surprised by what happens in life. One of the most important assets we have is our health

More information

Insurance Quote. Licenced to Kill Limited Level 1, MI Six Street Octopussy, Goldfinger 90210 www.licenced2kill.co.nz 007@licenced2kill.co.

Insurance Quote. Licenced to Kill Limited Level 1, MI Six Street Octopussy, Goldfinger 90210 www.licenced2kill.co.nz 007@licenced2kill.co. 007 Licenced to Kill Limited Level 1, MI Six Street Octopussy, Goldfinger 90210 www.licenced2kill.co.nz 007@licenced2kill.co.nz 666 6666 08 November 2012 Sean Connery & Miss Moneypenny 45 International

More information

INDIVIDUAL DISABILITY INSURANCE. Individual critical illness insurance AT A GLANCE

INDIVIDUAL DISABILITY INSURANCE. Individual critical illness insurance AT A GLANCE INDIVIDUAL DISABILITY INSURANCE Professional Oasis Individual critical illness insurance AT A GLANCE Table of Contents Professional......................................1 Built-in features.................................

More information

If you have an accident, will it hurt your bank account too?

If you have an accident, will it hurt your bank account too? Group accident insurance With wellness benefit If you have an accident, will it hurt your bank account too? Unum s accident insurance gives you something to fall back on. Life can take a tumble. With a

More information

Inside this issue. Discovery s Financial Adviser publication MARCH 2012. 62% Insurance gap. 60% Insurance gap. 38% Actual cover.

Inside this issue. Discovery s Financial Adviser publication MARCH 2012. 62% Insurance gap. 60% Insurance gap. 38% Actual cover. Inside this issue Life... Drive... BenefitBooster...6 Discovery Life s unique integrated operating model...8 Intermediary support... MACH Discovery s Financial Adviser publication Intelligent life insurance

More information

HOME PROTECTION PLAN MORTGAGE INSURANCE. Mortgage Insurance. that is Custom Built to Meet Your Needs

HOME PROTECTION PLAN MORTGAGE INSURANCE. Mortgage Insurance. that is Custom Built to Meet Your Needs HOME PROTECTION PLAN MORTGAGE INSURANCE Mortgage Insurance that is Custom Built to Meet Your Needs Mortgage Insurance that is Custom Built to Meet Your Needs Your mortgage insurance should offer you sufficient

More information

INCOME PROTECTION. Publisher 62, Male, Severe ear condition INJURY AS A RESULT OF TRAUMA E.G. LOSS OF LIMB

INCOME PROTECTION. Publisher 62, Male, Severe ear condition INJURY AS A RESULT OF TRAUMA E.G. LOSS OF LIMB INCOME PROTECTION Telephonist 31, Female, Lower back pain Demolition worker 40, Male, Site injury Publisher 62, Male, Severe ear condition Mining worker 37, Male, Depressive episode Dentist 51, Male, Fracture

More information

KEY FEATURES OF PPS INSURANCE

KEY FEATURES OF PPS INSURANCE KEY FEATURES OF PPS INSURANCE MUTUALITY AND PPS PPS operates on the principle of mutuality - this means that there are no external shareholders, PPS exists solely for the benefit of its select graduate

More information

INSURANCE. Agribusiness Extra

INSURANCE. Agribusiness Extra INSURANCE Agribusiness Extra Agribusiness Extra provides insurance cover specifically designed to protect the unique needs of those who work in the agricultural sector. It aims to protect the financial

More information

Product Disclosure Statement Version 11, Issued 21 May 2012. Life s better with the right partner AIA.COM.AU. Priority Protection

Product Disclosure Statement Version 11, Issued 21 May 2012. Life s better with the right partner AIA.COM.AU. Priority Protection Priority Protection Product Disclosure Statement Version 11, Issued 21 May 2012 Life s better with the right partner AIA.COM.AU Who issues Priority Protection? This Product Disclosure Statement ( PDS )

More information

Flexibility, peace of mind, convenience and unbeatable value

Flexibility, peace of mind, convenience and unbeatable value life insurance Why Myriad? Flexibility, peace of mind, convenience and unbeatable value Myriad is Momentum s market-leading life insurance product, covering hundreds of thousands of South Africans. With

More information

Foresters Lifefirst Producer Guide

Foresters Lifefirst Producer Guide Foresters Lifefirst Producer Guide Level Term Life Insurance This guide is intended to answer your questions, provide ideas to help you sell Foresters Lifefirst Level Term Insurance and is for information

More information

We understand you want financial flexibility while saving for your future

We understand you want financial flexibility while saving for your future SAVE We understand you want financial flexibility while saving for your future PRUflexicash Life has a habit of springing surprises on you. So it s good to know you re prepared in the event you need to

More information

universal Life Insurance offered by: Alliance Group LC, is an independent contractor representing Western Reserve Life Assurance Co.

universal Life Insurance offered by: Alliance Group LC, is an independent contractor representing Western Reserve Life Assurance Co. universal Life Insurance offered by: Alliance Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio 42422 0411 lliance Life happens. Are you prepared? Sometimes

More information

SIMPLE LIFE PLAN. Take care of your family even after you re gone.

SIMPLE LIFE PLAN. Take care of your family even after you re gone. Take care of your family even after you re gone. In times of unfortunate events, the last thing you should worry about is finances. That s why Liberty s Simple Life Plan takes care of your financial needs,

More information

LIFE INSURANCE PREPARING FOR THE FUTURE

LIFE INSURANCE PREPARING FOR THE FUTURE LIFE INSURANCE PREPARING FOR THE FUTURE Bupa life insurance is issued by ClearView Life Assurance Limited (ABN 12 000 021 581) (AFS Licence No. 227682) ( ClearView ). Bupa Australia Pty Limited (ABN 81

More information

Claims we paid 2010. claims statistics and case studies 1 January 2010 to 31 December 2010

Claims we paid 2010. claims statistics and case studies 1 January 2010 to 31 December 2010 Claims we paid 2010 AMP s claims statistics and case studies 1 January 2010 to 31 December 2010 AMP s Claims Concierge service AMP insurance exists to provide a safety net for our customers when they need

More information

MAKE FINANCIAL FITNESS HAPPEN

MAKE FINANCIAL FITNESS HAPPEN MAKE FINANCIAL FITNESS HAPPEN 3 UNIT 6 INTRODUCTION TO NEDBANK INSURANCE AND ASSURANCE PRODUCTS At the end of this unit, you will: understand the difference between insurance and assurance; and understand

More information

INFORMATION FOR ADVISERS

INFORMATION FOR ADVISERS At a glance Lump Sum Protection Protecting your future to make the most out of life. INFORMATION FOR ADVISERS P R O T E C T I O N F I R S T Why Protection? With Protectionfirst you have peace of mind knowing

More information

CHAPTER 5 LIFE INSURANCE POLICY OPTIONS AND RIDERS

CHAPTER 5 LIFE INSURANCE POLICY OPTIONS AND RIDERS CHAPTER 5 LIFE INSURANCE POLICY OPTIONS AND RIDERS There are a number of policy options and riders that the purchasers of insurance need to understand. Obviously, life and disability agents need to have

More information

Disability Income Protection. Business. Keeping income strong

Disability Income Protection. Business. Keeping income strong Disability Income Protection Business P r o d u c t s Keeping income strong Contents Your Most Valuable Asset 1 Disability Could it Happen to You? 2 The Leading Causes of Disability 3 ProVider Plus Disability

More information

Accelerated Benefit Riders Overview

Accelerated Benefit Riders Overview Living Benefits... When You Need Them Most Accelerated Benefit Riders Overview The Accelerated Benefit Riders Issued By The Accelerated Benefit Riders provide living benefit options for no additional premium.

More information

DISCOVERY RETIREMENT OPTIMISER

DISCOVERY RETIREMENT OPTIMISER 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

More information

Assurant Supplemental Coverage

Assurant Supplemental Coverage TEXAS Assurant Supplemental Coverage Plans that pay cash benefits right to you Time Insurance Company Assurant Health is the brand name for products underwritten and issued by Time Insurance Company. Cash

More information

Income Protection Policy Addendum Dated 23 April 2007

Income Protection Policy Addendum Dated 23 April 2007 Income Protection Policy Addendum Dated 23 April 2007 Income Protection Please read this document and keep it in a safe place with your Income Protection Policy Document. It is important that you read

More information

We understand you want to provide lifelong protection for you and your family

We understand you want to provide lifelong protection for you and your family PROTECT We understand you want to provide lifelong protection for you and your family PRUlife Be prepared for the unexpected You have plans and you work hard to shape your future, be it getting married,

More information

Life. Group Term Life Plans Group Sizes 2 or more. Underwritten by BEST Life and Health Insurance Co. LIFE-081809

Life. Group Term Life Plans Group Sizes 2 or more. Underwritten by BEST Life and Health Insurance Co. LIFE-081809 Group Term Plans Group Sizes 2 or more Underwritten by BEST and Health Insurance Co. LIFE-081809 Insurance for Protection Group Term insurance provides valuable and affordable group benefits, providing

More information

Lifetime Protection Plan from Standard Life Protecting you and your family

Lifetime Protection Plan from Standard Life Protecting you and your family Lifetime Protection Plan from Standard Life Protecting you and your family Remember when you thought you were invincible 1 of 33 2 of 33 When was the last time you felt invincible? Contents The need for

More information

Living benefits included at no additional premium cost

Living benefits included at no additional premium cost Living benefits included at no additional premium cost TERM LIFE INSURANCE OFFERED BY: Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio

More information

Overview. Business Protection Plan. Safeguard the future of your business.

Overview. Business Protection Plan. Safeguard the future of your business. Overview Business Protection Plan Safeguard the future of your business. When a business loses its sole trader, a key employee, an owner or a business partner, the consequences can be dramatic. Profits

More information

Trendsetter LB (Living Benefits)

Trendsetter LB (Living Benefits) Trendsetter LB (Living Benefits) Frequently Asked Questions TABLE OF CONTENTS Why do I need Living Benefits?...1 What are Living Benefits on a Life Insurance Policy and Accelerated Death Benefits?... How

More information

Life and protection insurance explained

Life and protection insurance explained protection? Life and protection explained A guide to personal and family protection This guide explains the types of life and protection available and how they can offer you valuable peace of mind. If

More information

Life insurance and TPD cover. Protect their tomorrows

Life insurance and TPD cover. Protect their tomorrows Life insurance and TPD cover Protect their tomorrows Life cover and Total and Permanent Disablement (TPD) cover provide you with the comfort of knowing that a lump sum will be paid if you were to die,

More information

RETIREMENT PLANS PERFORMANCE PROTECTION EFFICIENCY

RETIREMENT PLANS PERFORMANCE PROTECTION EFFICIENCY RETIREMENT PLANS PERFORMANCE PROTECTION EFFICIENCY SAVE FOR RETIREMENT AND PROTECT YOUR INVESTMENT Invest is an award winning provider of investment products in South Africa and is part of the Group. Our

More information

Please read this document carefully as it contains important information about this plan. Your VitalityLife plan summary VITALITYLIFE PLAN SUMMARY

Please read this document carefully as it contains important information about this plan. Your VitalityLife plan summary VITALITYLIFE PLAN SUMMARY Please read this document carefully as it contains important information about this plan Your VitalityLife plan summary VITALITYLIFE PLAN SUMMARY Your VitalityLife plan summary About this booklet This

More information

Living benefits included at no additional premium cost

Living benefits included at no additional premium cost Living benefits included at no additional premium cost TERM LIFE INSURANCE OFFERED BY: Alliance Marketing Group LC, is an independent contractor representing Western Reserve Life Assurance Co. of Ohio

More information

McAllen Independent School District Policy # 219632

McAllen Independent School District Policy # 219632 Term Life Insurance and AD&D Coverage Highlights McAllen Independent School District Policy # 219632 Please read carefully the following description of your Unum Term Life and AD&D insurance plan. Your

More information

We understand you want multiplied assurance for your family with a shorter premium term.

We understand you want multiplied assurance for your family with a shorter premium term. PROTECT We understand you want multiplied assurance for your family with a shorter premium term. PRUlife multiplier We understand you have goals and dreams that you are striving to achieve for your young

More information

Employee Group Benefits UNDERWRITTEN BY SUN LIFE ASSURANCE COMPANY OF CANADA

Employee Group Benefits UNDERWRITTEN BY SUN LIFE ASSURANCE COMPANY OF CANADA Employee Group Benefits UNDERWRITTEN BY SUN LIFE ASSURANCE COMPANY OF CANADA Howard University and Howard University Hospital D.B.A. Howard University, Inc. YOUR GROUP LIFE INSURANCE CONTAINS AN ACCELERATED

More information

SMSF insurance options and strategies

SMSF insurance options and strategies SMSF insurance options and strategies Agenda Will be looking at: Requirement to consider insurance Why hold insurance through an SMSF? Life Insurance Permanent Incapacity Temporary Incapacity. Requirement

More information

Group Term Life Insurance

Group Term Life Insurance Group Term Life Insurance For groups with 2-50 employees For the state of Virginia Plan Design Rate basis Rate guarantee 2-14 employees: Age banded rates (Each employee s premium is based on the group

More information

Z Protect. Because your greatest treasures deserve the most protection

Z Protect. Because your greatest treasures deserve the most protection Z Protect Because your greatest treasures deserve the most protection 1 A simple plan tailored to meet your changing protection needs As you progress in life, many things change - your income level, spending

More information

Your guide to participating life insurance SUN PAR PROTECTOR SUN PAR ACCUMULATOR

Your guide to participating life insurance SUN PAR PROTECTOR SUN PAR ACCUMULATOR Your guide to participating life insurance SUN PAR PROTECTOR SUN PAR ACCUMULATOR Participate in your brighter future with Sun Life Financial. Participating life insurance is a powerful tool that protects

More information

LIFE BOLD SIMPLE DIFFERENT. A personal approach to life cover LIFE

LIFE BOLD SIMPLE DIFFERENT. A personal approach to life cover LIFE LIFE SIMPLE BOLD DIFFERENT A personal approach to life cover LIFE ALEXANDER FORBES LIFE Protecting your wealth to secure your financial well-being Flexible, to change as often as life does. You can change

More information

Why would you want to consider insurance? We pay claims

Why would you want to consider insurance? We pay claims SMSF Plan CommInsure s SMSF Plan is a customised, easy to use product designed to offer SIS-aligned cover to SMSF trustees. This has the potential to reduce the compliance burden on trustees when selecting

More information

Term Life Insurance Illustration

Term Life Insurance Illustration Term Life Insurance Illustration Prepared For: Sample CIAB Prepared By: Valued Advisor Individual Commercial Brokerag 100 Enterprise Drive Rockaway, NJ 07866 ph: 800-422-0696 lic #: 1174278 1 Life Insurance

More information

Individual Living Benefits Product Portfolio. Personal income, lifestyle and business protection

Individual Living Benefits Product Portfolio. Personal income, lifestyle and business protection Individual Living Benefits Product Portfolio Personal income, lifestyle and business protection PROFESSIONAL MARKET The Professional Series policy OBJECTIVE n Provides non-cancellable coverage that includes

More information