Professional Wealth LIFE

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1 Whole Life Dread Disease Benefit Professional Wealth LIFE

2 ALEXANDER FORBES The Whole Life Dread Disease Benefit The Whole Life Dread Disease Benefit will provide a lump sum payment if you are diagnosed with one of the listed critical illnesses such as cancer, a heart attack or a stroke. It helps cover the costs associated with the condition along with your recovery and any lifestyle adjustments, by paying out a lump sum amount on diagnosis. This brochure focuses on the particular benefits of the Whole Life Dread Disease Benefit. Dread diseases: the hard facts Dread disease is a commonly used term to describe severe or critical illness. Heart attacks, cancer, strokes and coronary artery bypass grafts (CABG) are the four core diseases which make up between 70% to 90% of all dread disease claims.* The threat of cancer is real. South Africa ranks 50 th in the world in terms of prevalence per people at 202 cases per Denmark is the worst at per * But that does not mean cancer is not on the rise. Coronary heart disease is also a major killer both in the world in general and in South Africa in particular. According to the World Health Organisation (WHO), it s the world s biggest killer, followed by strokes the two amounting to nearly 22% of all deaths. And figures from the Heart Foundation of South The Guardian Benefit: Africa estimate that every ten minutes someone in South Africa has a heart attack nearly incidents a year. *World Cancer Research Fund: +Heart Disease in South Africa: report on South African Heart Foundation Website, dated July What is the Whole Life Dread Disease Benefit and why would you need it? The Professional Wealth Whole Life Dread Disease Benefit is a benefit that pays out a lump sum (up to 100% of the insured amount) if you are diagnosed with a condition from a specific list of serious illnesses. In addition, Alexander Forbes Whole Life Dread Disease Benefit insures you against a specified range of serious illnesses for life as its name implies. As such, it covers you for conditions such as cancer, heart disease and stroke throughout your retirement. Consequently the conditions the Professional Wealth Whole Life Dread Disease Benefit covers range from the most common and serious of health conditions cancer, coronary heart disease, strokes and actual heart attacks through a comprehensive list of 40 conditions. This includes a particularly helpful catch-all benefit called the Guardian Benefit. * ASISA standards disclosure for critical illness products. 2

3 SEVERITY BASED COVER The conditions we cover: for your comprehensive peace of mind 1) Cancer 24) Cerebral malaria 2) Cardiac surgery and procedures 25) Bacterial meningitis 3) Heart attack and myocardial infarction 26) Pulmonary embolism 4) Stroke 27) Fulminant hepatitis 5) Guillain-Barré Syndrome 28) Loss of sight 6) Motor neuron disease 29) Major organ transplant 7) Parkinson s disease 30) Major burns 8) Alzheimer s disease and advanced dementia 31) Poliomyelitis 9) Benign brain tumour 32) Terminal illness 10) Coma 33) Loss or loss of use of limbs 11) Aplastic anaemia 34) Rheumatoid arthritis 12) Chronic liver failure 35) Trauma 13) Chronic respiratory failure 36) Accidental HIV 14) Paralysis (paraplegia, hemiplegia or quadriplegia) 37) Wegener s granulomatosis 15) Renal failure 38) Loss of speech 16) Multiple sclerosis 39) Major head trauma 17) Muscular dystrophy 40) Sarcoidosis 18) Encephalitis 41) Systemic lupus erythematosus 19) Loss of hearing 42) Advanced AIDS 20) Aorta surgery 43) Cushing s disease 21) Crohn s disease 44) Diabetes Type 1 22) Ulcerative colitis 45) Child benefit 23) Chronic pancreatitis 46) Guardian benefit 3

4 ALEXANDER FORBES extra cover for unlisted conditions at no extra cost Medicine changes all the time diseases that were once considered tragically terminal become chronic conditions that are entirely and easily treatable. HIV is a prime example. But some conditions also appear or reappear from nowhere TB, particularly here in South Africa, is one, along with certain strains of malaria. Even certain types of influenza can be very severe, leaving lasting effects. Because life is unpredictable, the policy includes the Guardian Benefit that provides extra peace of mind. If you are assessed as suffering from a serious physical condition this is considered to be equal in severity to a listed condition, that would qualify for a 100% payout, the Guardian Benefit would cover you. What happens when you need to make a claim? Alexander Forbes Life s experienced Professional Wealth claims team will ensure that we pay all claims which meet the terms and conditions as defined in the policy document. We understand that a claim is the most important test of any insurance company and we take the payment of all our claims seriously. A key element of this will be your dedicated personal consultant, who will access your policy immediately and act swiftly to process your claim. We will then medically evaluate your dread disease claim to establish the severity of your condition and therefore at what level you qualify for the benefit. The Professional Wealth Whole Life Dread Disease Benefit is then paid out in line with the nature Whole Life Dread Disease Benefit is then paid out in line with the nature and severity of the particular condition: payouts range from 10% to 100% but the vast majority of the conditions are payable at the 100% benefit level. You can make multiple claims on your Whole Life Dread Disease Benefit, as the benefit will reinstate after each claim, allowing for further unrelated claims under different categories (Standalone benefit only). Multiple claims for the same condition are allowed, where they are severity-based conditions such as cancer and the diagnosis may become more severe over time, up to a maximum of 100% per benefit category. How the benefit is paid: accelerated and standalone benefits These two benefit structures are available under the Whole Life Dread Disease Benefit. The difference between the two is that the accelerated benefits are taken as part of your Life Benefit, and claiming from one of the Accelerated Benefits will reduce your Life Benefit by the amount claimed. Your coverage under the Whole Life Dread Disease Benefit, along with any other Accelerated Benefits on your policy, may also reduce as a result of the claim. The Standalone benefits are taken in addition to your Life Benefit. Claiming on one of these benefits does not affect your Life Benefit or any of the other Accelerated or Standalone benefits you may have. Our Guaranteed Insurability option: allowing you to increase your benefits without any further medicals. As your circumstances change, so too does your need for cover. We realise this and so include guaranteed insurability into the Whole Life Dread Disease Benefit policy at no additional cost. This means that, during the first ten years of your policy, you can buy additional cover within three months of the occurrence of a significant life event, such as a marriage, the birth of a child or applying for or increasing your mortgage bond and upon divorce, should the divorce order stipulate that cover is required. This additional cover comes without any additional need for medical assessments and you can increase the sum insured by up to 100%, to a maximum of R Professional Wealth: a range of benefits to ensure your family s financial security The right protection is fundamental to building your family s financial security. Professional Wealth from Alexander Forbes Life offers a carefully considered range of benefits that can be tailored to your particular needs whether that may be a new family or a new business. Our product range falls under the Professional Wealth brand and includes the following options. 4

5 SEVERITY BASED COVER Life Benefit A lump sum payment on your death or diagnosis of a terminal illness. Capital Disability Benefit A lump sum payment in the event of total and permanent disablement. Severe Illness and Impairment Benefit A lump sum payment on the diagnosis of a critical illness or an impairment. Comprehensive Income Disability Benefit A monthly income payment in the event of temporary or permanent disablement. Business Overheads Expense Benefit A monthly income payment, for up to 24 months, to cover your essential business operating expenses while you are temporarily disabled. How much are the premiums? Your premiums are age rated and are based on an individual rating system that incorporates medical testing to make sure you pay the most appropriate premium. This ensures that your premiums are as affordable as possible and that you are paying the best premium possible for the cover you require. Melanie s story In October 2009, Melanie Macaulay was referred to a specialist by her GP who was worried about her increasingly serious headaches and dizziness. As her condition worsened, an MRI scan was booked. Sadly, everyone s worst fears were realised just before New Year 2010: Melanie had a brain tumour and, after a second scan was taken, it appeared to be growing. At 31, working for a firm of accountants, she was the primary breadwinner in the household. She was also the mother of Gemma, 4, and Michael, 18 months. An operation was immediately scheduled. Although traumatic for all concerned, it was a success and the immediate pressure on her brain was relieved. Through all of this, Melanie was extremely lucky that she had both a comprehensive medical aid and dread disease benefits. This allowed her to receive a full 100% pay-out from her dread disease benefit in addition to her medical aid coverage. In addition, she had been wise enough to take out Income Disability cover as well, so Alexander Forbes not only paid her a significant lump sum on diagnosis of her brain tumour, they also paid her a monthly sum as well, for the considerable time she could not work. More than anything else, it allowed her husband Paul to focus on their young family and find a full-time nanny the payout more than covered their needs. And to date, miraculously, Melanie s two sixmonthly scans since the operation have shown no return of the tumour. Although her balance isn t what it was, her head for figures most certainly is. Back at work three days a week, she has her life back in ways she never thought she would. What next? For more information on the Professional Wealth Whole Life Dread Disease Benefit, please contact your financial adviser, who will prepare your financial needs analysis for you. Once you have evaluated and agreed on your unique financial needs, your financial adviser will prepare a quote for you. If you are happy with our quote, you will then need to fill in the necessary application form and complete the required medical assessments. For more information contact our Call Centre on or us at profwealth@aforbes.co.za. 5

6 Physical address: Alexander Forbes 115 West Street Sandown Postal address: PO Box Sandton 2146 South Africa Telephone No: Fax No: Alexander Forbes Life Limited is an Authorised Financial Services Provider in terms of the FAIS Act (Licence number:1178). You should not take the information in this document as advice given by Alexander Forbes Life Limited. If there are any differences between any legal, technical or product information in this document and the contractual terms or, where applicable, the fund rules, the contractual terms or fund rules will always be right. Any recommendations made must take into consideration your specific needs and unique circumstances. Copyright in this material is expressly reserved and remains the exclusive property of Alexander Forbes Life Limited. This document and any attachments may not be altered, copied, stored, retrieved or in any way reproduced without the express written permission of Alexander Forbes Life Limited. Breach of copyright is a serious offence and can lead to litigation. Images from: and Written and designed by Alexander Forbes Financial Services Communications 5839.