Discovery Cover — coverage for losses that are discovered during the term of a reinsurance treaty, regardless of when they occurred.
Severe illness cover is personal insurance that protects you and your family against the financial impact of a major illness like cancer, a heart condition or stroke.
Through a range of customisable benefits that transform throughout your life to remain relevant to your changing needs, a life insurance policy from Discovery will protect you financially in the case of a life-changing event.
An individual registered as an adviser on matters of insurance, investments and other financial services, who arranges cover on behalf of a client. Financial Integrator. Gives clients access to the Annual Guaranteed PayBack benefit, with cover levels adjusting based on their health and wellness management.
Discovery Life Limited, registration number 1966/003901/06, is a licensed life insurer, and an authorised financial services and registered credit provider, NCR registration number NCRCP3555.
The Discovery Funeral Plan offers you and your family funeral plans with lump-sum payouts as well as additional benefits.
In brief: You can take out life insurance on your parents' lives if they are direct family members and you share a bond of love and trust. You will be the policy owner, responsible for paying the premiums. There is one life assured on a policy - so either your mother or father will be the life assured.
Protect your income and your financial security
You can receive up to 100% of your income (after tax) for up to two years if you become temporarily disabled. If you become permanently disabled, your monthly benefit amount will be upgraded to 100% of your after-tax income until your selected benefit expiry age.
According to BusinessTech, in order to be considered wealthy enough to open a top-shelf private banking account, you need to be making in the region of, or more than R1,5 million a year. If you want to open a Discovery Bank Purple account, you'd better be pulling in upwards of R2,5 million a year.
In general, funeral policies offer the benefit of covering more people, such as an entire family. Life insurance policies typically allow cover for an insured individual or a married couple and sometimes their children.
Insurance. Many life insurance policies will pay a lump sum when you die to a beneficiary of your choice. It will pay for your funeral or any other general financial needs of your survivors. The payment is made soon after you die and doesn't have to go through probate.
A funeral plan helps you to put money aside to pay for your funeral costs. Life insurance will not pay out if the policy has ended, whereas the funeral plan is designed to pay out when you die. You can have more than one life insurance policy if you circumstances change and you feel you need more cover.
The kinds of illnesses that are covered are usually long-term and very serious conditions such as a heart attack or stroke, loss of arms or legs, or diseases like cancer, multiple sclerosis or Parkinson's disease.
Can I get critical illness cover with rheumatoid arthritis? Yes – most insurers should offer this type of cover for someone who has been diagnosed with rheumatoid arthritis. You should be able to get a critical illness cover policy, especially where your symptoms and medications are mild or infrequent.
Income protection insurance pays you a regular income if you can't work because of sickness or disability and continues until you return to paid work or you retire. Income protection insurance is also known as permanent health insurance.
Is income protection insurance worth it for you? It depends what losing your income for health reasons would mean in your circumstances. If it could cause you significant financial hardship and you can't live with that risk, it could be a very worthwhile kind of cover to have in place.
With short-term plans (paying out for up to 12 months), the vast majority will allow you to cover a maximum of 65% of gross (pre-tax) income. However, although uncommon, some short-term plans have started to allow up to 70% of earnings to be covered.
You likely won't be able to get a large death benefit, but seniors over 80 can still get life insurance coverage. Truthfully, most types of life insurance are still available, including a term policy, burial insurance, whole life, and universal life.
Yes, you can have more than one life insurance policy.
How do I cancel my health plan? You need to let Discovery Health Medical Scheme know 30 days in advance (a calendar month's notice) of your intention to withdraw yourself or your dependants from the scheme. Contact us on 0860 99 88 77.