Get twice as much severe illness cover for the same effective premium

Discovery Life's award-winning LifeTime Max 200% Severe Illness Benefit

Our LifeTime Max 200% Severe Illness Benefit is designed to protect you against the lifestyle impact of a severe illness. Not only do you experience the most comprehensive multiple claims facility in the market, but you can also get boosted payments of up to 215% based on the expected long-term impact of the illness as well as access to a number of unique features, such as the market-first Cancer Relapse Benefit.

Key features of the LifeTime Severe Illness Benefit

• Highest payouts in the market: Provides clients with a minimum payout of 100% of their insured amount for all Standardised Critical Illness Definitions Project (SCIDEP) conditions, and pays up to 215% of the sum assured based on the long-term impact of the illness.
• Global Treatment Benefit: The Global Treatment Benefit provides up to R250% of the benefit amount* if treatment is required at international facilities.
• Child Severe Illness and ParentCare: Automatic severe illness coverage for the children and parents of the insured person.
• Cancer Relapse Benefit: On recurrence of a cancer after a one-year remission period, clients receive an additional payout of 50% or 100% of their sum assured, based on the LifeTime Maximum selected.

In recognition of the significant cancer coverage across the full spectrum of severities as well as coverage for the remission of a cancer, the LifeTime Max 200% Severe Illness Benefit was awarded the best dread disease product in the market for cancer cover by the Independent Clinical Oncology Network.

LifeTime Max 200% for the same effective price as the LifeTime Max 100% for three years

Qualifying Smart, Classic and Purple Life Plan clients will be able to select the LifeTime Max 200% Severe Illness Benefit and get the difference in premiums between the LifeTime Max 200% and 100% benefit paid back to them as part of their PayBacks for the first three years of their policy.

Highly competitive premiums for a market-leading benefit

By providing clients with the LifeTime 200% Max, they can get at least a 100% payment, and in many cases substantially more, for all SCIDEP conditions. In addition, over 90 other conditions will receive LifeTime upgrades, leading to payments of up to 215% of the insured amount. By paying the same effective premium as Discovery's LifeTime Max 100%, clients receive the market's number one dread disease product**. In addition, the upfront premium is still highly competitive relative to the market, at 15% more competitive, on average.

Case study

John, 35, takes out a new Classic Life Plan and qualifies for an Annual Guaranteed PayBacks of 10%. He selects a total Life Fund of R5 000 000 and 100% accele rated LifeTime Max 200% Severe Illness Benefit.

He qualifies to get the difference between his selected LifeTime Max 200% Severe Illness Benefit premium and the equivalent LifeTime Max 100% Severe Illness benefit premium back each year with his Annual Guaranteed PayBack.

At the end of his first year, John receives 100% of the difference between the amount he paid for his LifeTime Max 200% Benefit and the equivalent amount he would have paid for the LifeTime Max 100% Benefit back amounting to R2 592.

Because John has already received the difference between his LifeTime Max 200% Benefit and the equivalent LifeTime 100% Benefit, he still gets an Annual Guaranteed PayBack, but on the equivalent LifeTime Max 100% premium (as this portion of his premium has not earned any PayBacks as of yet), amounting to R1 321.

John also qualifies for a Surplus PayBack of 40%, and, as per above, he accrues this on the equivalent LifeTime Max 100% premium. This means that he accrued a total amount of R5 285 towards his Surplus PayBack Fund at the end of year one.

The amount John gets back over the first year of his policy is illustrated in the graph below.

Applies to new and existing clients who add or upgrade to the latest version of LifeTime Max 200% Severe Illness Benefit for the first time between 9 August and 15 December 2018 and with a start date between 1 August 2018 and 1 March 2019. Please note that in order to qualify for this offer, existing clients cannot have a version of the LifeTime Max 200% Benefit on their policy and must upgrade to the latest Severe Illness Benefit version.

Discovery Life Limited. Registration number 1966/003901/06, is a registered long-term insurer, and an authorised financial services and registered creditprovider, NCR Reg No. NCRCP3555

https://www.discovery.co.za/corporate/smart-money-severe-illness-cover-the-same-premium