Discovery Life special offers – You only have a month to go!

Discovery Life is South Africa’s number one selling life insurer, providing the most comprehensive life cover to protect clients and their families. Discovery Life is unique in that it helps clients live longer, healthier lives, and is able to provide them with upfront premium discounts and pay back a portion of their premiums every year. 

We are offering four special offers that provide you with the ideal opportunity to create value for your clients, ensuring they receive the most comprehensive cover on the market, with upfront and ongoing financial rewards!

All these special offers close on 30 June 2016, so you only have a month left to offer your clients the following special offers:

Make every day a healthier, more rewarding one for your clients with up to 50% of their qualifying premiums back over the first five years, guaranteed! 
To kick-start their engagement in health and wellness, Discovery Life is including a Vitality Health Check as part of the new business onboarding process for Classic, Essential, Business and Dollar Life Plans.

In addition, for a time, Discovery Life is using Vitality Health Check results to provide qualifying clients, who are in good health and on a Classic Life Plan, with the ability to earn a guaranteed minimum PayBack of up to 50% of qualifying premiums over the first five years of their policy.

Offer your clients additional value with a 50% discount on the Buy-up Cash Conversion for up to the first three years.
To ensure your clients are protected against the ever-increasing risk of outliving their retirement savings, clients can qualify for a 50% discount on their Buy-up Cash Conversion premiums for up to three years.

Business owners can enjoy more security through a return of up to 33% of their life cover premiums after five years.
If a client signs up for a Business Life Plan and qualifies for a Principal PayBack Fund, their first payment from the Principal PayBack Fund is guaranteed to be up to 33% of their life cover premiums over the first five years of their policy. 

This is in addition to the Integrator premium discounts of up to 28% and the 50% discount that clients with qualifying policies receive on their Capital Disability Benefit premiums for the first three years of their policy. 

Are your clients’ jet-setters? Offer them global life cover for only R12/$1.
The R12/$1 Life Plan special offer allows clients to pay premiums on a new Dollar Life Plan based on a maximum exchange rate of R12/$1 for the first three years of their policies, as long as the R/$ exchange rate is less than R20/$1. This equates to an exchange rate of up to 40% better than the market. And if the exchange rate exceeds R20/$1, a 20% discount on the exchange rate will apply.

The Dollar Life Plan and Dollar Discovery Retirement Optimiser are issued by Discovery Life International, the Guernsey branch of Discovery Life Limited (South Africa), licensed by the Guernsey Financial Services Commission, under the Insurance Business (Bailiwick of Guernsey) Law 2002 to carry on long-term insurance business. The Dollar Life Plan and the Dollar Discovery Retirement Optimiser are also subject to the South African Long-term Insurance Act of 1998. 

Discovery Life is an authorised financial services provider. Registration number 1966/003901/06. Terms and conditions apply. The Dollar Discovery Retirement Optimiser is administered by Discovery Life Investment Services (Pty) Limited trading as Discovery Invest, a subsidiary of Discovery Limited. The trustee appointed by the Branch must hold the licensed insurer’s assets representing at least 90% of policyholder liabilities in trust as imposed by a standard condition on the licence of the Insurer under section 12 of the Insurance Business (Bailiwick of Guernsey) Law, 2002 (as amended). The information given in this document is based on Discovery’s understanding of current law and practice in South Africa and Guernsey. No liability will be accepted for the effect of any future legislative or regulatory changes.

Discovery Insure’s improved excess structure for bicycles

Discovery Insure’s excess structure for bicycles, under the portable possessions section of cover, is enhanced with immediate effect for all clients as follows: 

This replaced the previous excess structure, which stated:

Please remind your clients to specify their bicycles if they want cover while away from home. 

They can also use our estimated maximum loss feature to reduce their premiums, if appropriate.

Discovery Insure excels again in the 2015 Ombudsman for Short-Term Insurance statistics

The Ombudsman for Short-Term Insurance (OSTI) released their annual report this week. This report contains industry statistics on the number of claims complaints received by the OSTI and their overturn rate (where OSTI overturns the insurer’s decision in favour of the client).

Discovery Insure has done well, with only two claim complaints for every 1 000 claims, compared to the industry average of three claim complaints for every 1 000 claims. Our claims overturn rate of 25.13% is also lower than the industry average of 26.73% (down from 30.78% in 2014).

Discovery Insure is in a good position to do even better. Dennis Jooste, the previous Ombudsman, exclusively joined our claims forum, adding significant expertise to this important forum.

It is increasingly important that clients understand their short-term insurance cover, given that the OSTI receives over 9 000 complaints every year, of which fewer and fewer are overturned. This also emphasises the value of your role as an intermediary, of your advice and of your service offerings to your clients.

You can view the 2015 OSTI report on www.osti.co.za

Order your Discovery Invest marketing material. New form available

The latest Discovery Invest stock order form is now available. To place an order email us at marketing_stock_orders@discovery.co.za