About Discovery Life Insurance
You can now gain access to Vitality through Discovery Life without belonging to Discovery Health.
Some facts about Discovery Life are:
- It is the life insurance arm of Discovery Holdings.
- Launched in 2000.
- Discovery Life was the innovator, and still is the leader, of pure risk life insurance products in South Africa.
- In June 2008 it was recognised as the life assurer of the year (risk products) in the Financial Intermediaries Association’s prestigious annual awards.
- As South Africa’s fastest growing major life assurer, it has captured around 40% of the new business in the independent broker risk market since its inception in 2000.
Benefits that can be added to the Discovery Life policy
- Life Insurance – pays beneficiaries or creditors when the member passes on.
- Capital Disability Benefit – provides a lump sum to ensure you remain financially secure in the event of becoming disabled and not being able to earn more income.
- Severe Illness Benefit – comprehensive lifestyle protection for you and your family against the impact of severe illness.
- Income Continuation – pays a regular allowance as a result of a loss of income.
- Global Education Protector – enables you to meet the actual costs of your child’s education – in South Africa and internationally – in the event of death, disability, or severe illness of the insured party.
Benefits of Discovery Life with Vitality
- Vitality members (who are not on Discovery Health) can get a 17.5% upfront discount on their life insurance – thereby getting even more life cover for their money.
- Vitality members can get up to 25% of their premiums paid back to them tax free according to their Vitality status.
