Archive for the Discovery Life Benefits Category


Discovery Life Product Terminology

We here at IHS want you to understand what the different terminology used in your life insurance means and what it means to you and your life cover. Below are a list of terms that are consistently used in both Discovery and none discovery life insurance products. We hope that you find them useful…

Disability Insurance

Disability insurance on the other hand pays out if you are no longer able to continue to work.

Impairment Insurance

Impairment insurance will pay out if you succumb to certain predefined medical conditions.

Discovery Life Insurance Integration Models Terminology

Discovery Life Insurance offers 5 integration models that help to tie in all of their products including Discovery insurance, health, vitality, and car insurance.

Below we have provided a summary of the different Discovery integration models:

Health Integration (with Pay-Back)

This gives you an initial discount on your life insurance premiums and allows for cash back every five years if you have integrated your life and Discovery Health plans.

Cover Integration

This allows you to get the most out of your life cover for the least amount of cost. It literally gives you up to an extra 40% of your life fund at a substantially reduced rate. It also pays a large component of your life cover at age 65 and even into retirement.

Vitality Integration (with Pay-Back)

This is the integration of Discovery Vitality into the life cover option for members who are not also Discovery Health members. This offers you an initial discount on your premiums plus money back every five years (as per the pay-back option in the health integration above)

VitalityDrive Integration

This integration is a further mechanism to reduce one’s life premiums. By having a Discovery Insure Policy with VitalityDrive you are also able to enjoy up to 50% refund of monthly BP fuel spend.

Financial Integration

This allows you to receive the Annual Guaranteed Paybacks for the 1st 10 years of your policy and further pays large amounts of your life cover after 15 years of your policy starting up into retirement.

Risks Covered

Risks Covered by a Discovery Life Plan

The Discovery Life Plan that we at IHS promote is made up of seven main benefits. These are referred to as “mainstay benefits” and include:

The Life Fund

  • This is the actual life insurance cover benefit and covers loss of life.

The Capital Disability Benefit

  • This is your lump sum benefit that covers disabilities that might be incurred over the course of a lifetime.

The Income Continuation Benefit

  • This fund is used to cover you if you cannot generate an income?

The Severe Illness Benefit

  • This benefit covers you against a list of chronic illnesses such as cancer. Contact us for a full list of illnesses and diseases covered by this benefit.

The Global Education Protector

  • This benefit covers your kid’s education costs if you suffer a life changing event such as death, disability or even critical illness.

Additional Optional Risk Cover

There are also a few additional risk cover options that can be included in your Discovery Life Plan. These are:

The Health Plan Protector

  • This pays all of your medical aid premiums for up to ten years if you suffer a life changing event such as that mentioned above.

Global Health Protector

  • This provides you with access to some of the most advanced US (United States) healthcare providers.

Supplementary Cancer Protector

  • This provides you with an income if you are diagnosed with any type of cancer and cannot work.

Philanthropy Fund

  • This allows you to make a contribution to up to 10  charities of your choice on death.


Flexible Discovery Life Plans

The Benefits of a Discovery Life Plan over older life insurance products is that it is more flexible. Below is a table summary showing you the distinct advantages of how this works:

Insurance Benefit Discovery Products Remarks
Life Cover These products are more Cost Effective as you only pay for the cover you need.  
Disability Cover The “Occupation” and impairment definitions are easy to understand and apply. The is a more holistic approach to changes in lifestyle and work situations.
Income Protection Objective claims assessment is exceptionally important. Objective claims criteria to quickly finalise your claim and if you are medically permanently disabled Discovery will continue to pay your income protection until expiry age regardless whether you are able to work or not
  Members are made aware what should constitute a claim.  
  Comprehensive protection and automatic cover for your Discovery policies  
  There are no waiting periods Why wait months if you became disabled?
    Claims are paid before it becomes difficult to cover the premiums.
  Continuously check and update policy document. You will always be kept “in the loop” and any changes to a policy will be clearly communicated to you.
Severe Illnesses Comprehensive body cover. You get much wider coverage.
    All benefits are paid out based on the severity of a large number of illness, not simply on diagnosis type. Many medical conditions are also covered.

Contact Us to Find Out More

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