Based on our own experience and statistics, we have found that more clients enquire about Discovery Life than other life insurance company's products. This is interesting, as we are an independent practice, and we have contracts with no less than 7 life insurance companies:
- Discovery - Hollard - Liberty - Momentum - Old Mutual - PPS - Sanlam As an advisor, the process I go through is to first understand the client, his needs, then match the best product to his needs. Discovery Life does not necessarily meet client needs in every situation. So why do more clients ask me about Discovery Life? When we unpack the trend, I think there are a few things that draw clients to Discovery Life: 1. A client is a Discovery Health member. As Discovery Health is the largest open scheme in the country, with 55% market share, most of our clients are on Discovery Health. They are familiar with the company, and they trust the brand. Hence they ask for Discovery Life when they think about life insurance. 2. Discovery is an expert in marketing. Whether you like Discovery or not, they are a leader in marketing. From its early days, it has been very strong in marketing. You hear and see its advertising everywhere: Online, radio, TV, social media. And it does an excellent job, with beautiful graphics, interesting stories, partnering with sportspeople. In your face everywhere. 3. Discovery excels in mobile engagement. Discovery spends a lot of efforts and money in developing its mobile apps early on. It is a leader in mobile apps. I find myself logging in to Discovery app at least once a week, to check my Vitality Active Rewards, then maybe browse other sections. Discovery has made a lot of information and data easily accessible, at your fingertips literally. You don'g need to log into a website, you don't need a computer. You don't have to call a number. All you need is a phone. Yes all that information is kept secure. 4. Everything under one roof. As Discovery continues to expand its product range, and clients log into Discovery app regularly and see what else Discovery has to offer, they would think, "Why not get this product with Discovery as well, so I have everything in one place?" 5. Social influence. As more and more people become clients of Discovery, when their family and friends talk about life insurance, the name Discovery would come up somewhere in the discussion. 6. The profile of our clientele. As Daberistic focuses on the business owners and professionals market, they tend to be in the more affluent market. Discovery's market positioning speaks to their needs, image and aspirations. Discovery Life has many unique features and benefitsis. It is competitively priced if integrated with Discovery Health and Vitality. It has an attractive payback benefit. Now a Discovery Bank client can get further benefits with the Discovery Bank Integrator. While Discovery Life does have a strong value proposition, it is not for all clients. If a client is not on a medical aid administered by Discovery, does not like to exercise, does not pay attention to healthy living, does not want to spend time engaging with Vitality wellness programme, then he will find Discovery Life to be expensive. And it can become even more expensive over the long term.
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Discovery announced a number of key product enhancements that respond specifically to insurance needs around COVID-19, as well as the results of two critical research papers on COVID-19 in South Africa. Hylton Kallner, Discovery South Africa CEO says, “Our response to the COVID-19 pandemic has been guided by our core purpose of making people healthier. In the context of this pandemic, it is more critical than ever that we work hard every day to support clients with access to healthcare cover and comprehensive financial protection, and that we provide them with the necessary tools to promote behaviour that encourages healthy lifestyle choices.” The Group earlier introduced healthcare cover specific to COVID-19 through the WHO Global Outbreak benefit and tailored Vitality to help encourage people to stay healthy and active at home. In partnership with Vodacom, the Group made online doctor consultations available to South Africans through a virtual healthcare platform that gives free access to reliable information, risk screening and the ability to effectively ‘dial a doctor’ from the safety of their home. Kallner explains, “Discovery has access to one of the largest population data sets on a variety of factors relevant to the COVID-19 experience. Ranging from clinical, to financial and behavioural data, we are in a unique position to understand the long-term impact of COVID-19 in South Africa, and to design the necessary product structures to better support clients.” Together with emerging experience from other parts of the world, Discovery data highlights the importance of regular screening, appropriate testing and understanding and managing an individual’s health risk. This has informed the expansion of new benefits in response to changes brought about by COVID-19. These provide clients with proactive risk monitoring and assistance; providing cover for different severe illness outcomes due to COVID-19; adequate health protection over a longer term; and rewards that adapt to new lifestyles. A new COVID-19 risk assessment tool to be made available to all South Africans “We have undertaken the analysis to create an accessible COVID-19 risk assessment tool, that will be released on the Discovery app and the website helping people to understand their risk for COVID-19, to know their health risks that increase the likelihood of hospitalisation, and access funding for testing and health monitoring for those at a high risk for compilations,” says Kallner. The assessment will look at a member’s risks compared with that of the membership base in an area. “Members will be able to complete the assessment over time and keep track of their history. When testing is recommended, the assessment tool guides them to an online doctor consultation in a network. More than 6 500 members of Discovery Health Medical Scheme (DHMS) have consulted with their doctors online over the past couple of months, helping to contain the spread of the virus,” he says. “What we know now is that high blood pressure, cholesterol, blood glucose and body mass index are leading risk indicators of developing complications. We want to help members on all health plans to understand and manage these factors to mitigate the risk of complications from COVID-19. From June, any result from a Vitality Health Check that places someone at a high risk for complications will trigger a referral for advice through one online doctor or nurse consultation in the network, which the Scheme will fund in full,” says Kallner. In addition to the forthcoming COVID-19 risk assessment tool, other key enhancements announced by the Group include: Discovery Health expands access to fully funded COVID-19 testing and high-risk monitoring The WHO Outbreak benefit, first announced in early March, has been enhanced further to provide comprehensive cover for COVID-19 over the longer term. It now provides cover for two PCR tests for each beneficiary in a year, following screening by a healthcare professional and will be funded from the risk benefit regardless of the result. Healthcare professionals who are members of DHMS, will have cover for four PCR tests in a year. Discovery Health will assist members at higher risk of COVID-19 complications with funded telephonic consultations with a wellness specialist to monitor their current physical and mental wellbeing and make referrals to virtual healthcare services. DHMS will fund a pulse oximeter– used to monitor oxygen saturation from an early stage – for members at high risk of COVID-19 complications. This will be funded in full if obtained from a network provider. Members will also have access to three consultations with a wellness consultant to monitor oxygen and make a referral to a GP when necessary. Employer groups also have access to a variety of benefits that can help to manage COVID19 in the workplace. A comprehensive information hub, management of high-risk employees, contact tracing and access to screening and online doctor consultations are all available to employers through Discovery Healthy Company. Discovery Insure rewards clients for driving less Premium cash back even when driving shorter distances through the Dynamic Distance cash back that rewards low kilometres. Clients can earn up to 25% motor premium cash back every month when they drive between 0km and 249km in a month and they can still earn up to 50% fuel cash back when they drive more. Vitality Drive Active Rewards has been enhanced so that a client’s drive goal each week is based on their driving behaviour and not on the number of kilometres driven. Discovery Vitality tailored for seniors Vitality Health Check tailored for people aged 65 years and older, recommending specific and age-appropriate health screenings, preventive tests and vaccinations, including a risk assessment score for COVID-19. Three clinically validated screening tests help with early detection of age-related risks of hearing loss, visual perception, and balance and leg strength to prevent injuries from falling. The standard set of preventive tests follow, which include blood pressure, blood glucose, cholesterol, weight and smoking status. The acceptable ranges for weight and blood pressure are altered to consider the changes at an older age. Preventive steps include recommended vaccines such as the flu vaccine and the pneumococcal vaccine to prevent pneumonia. Results are summarised in reports and provide targeted health tracking, clinical risk projections and healthcare referrals based on the health assessment. It can be accompanied by a Vitality Functional Assessment which is an eight-part physical assessment to identify the risk of early frailty or disability and offers tailored workout routines to support healthy ageing. Discovery Life enhances Severe Illness Benefit to automatically cover multi-organ complications associated with COVID-19 Clients have full cover for COVID-19 related claims under their Discovery Life cover. A new multi-organ benefit has been included as a category under the Severe Illness Benefit to provide relevant cover for the complications associated with COVID-19. COVID-19 presents varying respiratory, cardiac, renal and liver complications. The multi-organ benefit is a category within the Severe Illness Benefit and complements existing severe illness body systems to provide payments by the level of acute multi-organ failure, resulting in payments of 50% to 100% of the severe illness benefit. Discovery Life is also taking a proactive approach to providing cover and is currently tracking 203 clients who haveCOVID-19 to manage claims from any of their available Life, Severe Illness and Income Continuation Benefits. If you would like more information on any of the products please contact Koketso email: info@daberistic.com tel:(011)658-1333 Source: Discovery Discovery will pay your children's education fees when you can't. The Global Education Protector from Discovery helps to cover your children's education from crèche through to tertiary education, locally or abroad, if something happens to you. Cover your child's tertiary education fees by leading a healthy lifestyle If you don't claim and lead a healthy lifestyle with Vitality, you can get up to 100% of your child's tertiary fees funded. The percentage is based on your children's age when you take out the policy and the benefit option you select. Reasons to consider Discovery's Global Education Protector A good education is one of the best gifts you can ever give your children. With Discovery's Global Education Protector Benefit, the education cover will ensure that they'll always be provided for and that their future is bright. All benefit options automatically include cover for:
To get a quote for your Global Education Protection , contact Kevin and Ray in our Life department, email life@daberistic.com , tel (011)658-1333
Source: Discovery As an employer, you're faced with many challenges. Perhaps the biggest is keeping your employees inspired and motivated every day. Employee wellbeing is key to running of any sustainable business, and when maintained, can help to significantly reduce staff turnover, minimise absenteeism and increase productivity.
This could be a costly exercise, but with Discovery Life as your partner, both your employees and your bottom line can benefit. The Discovery Corporate Integrator, is a powerful employee wellness incentive structure designed to improve the health and wellbeing of your employees, while boosting the health and productivity of your business at the same time. What is the Discovery Corporate Integrator? For years Discovery has partnered with employers to meet various needs of their employees. From the healthcare benefits of Discovery Health Medical Scheme, to the protection benefits of Discovery Life and finally to the wellness rewards of Vitality. Now the Discovery Corporate Integrator is taking our employee wellness offering one step further - linking the individual benefits offered through Discovery Health, Discovery Life and Vitality to provide employees with significant financial rewards for being healthy. How does the Discovery Corporate Integrator work? The Discovery Corporate Integrator rewards employees for living healthy lifestyles and achieving healthy outcomes with up to 40% of their Discovery Life Group Risk premiums back. The Discovery Corporate Integrator is more than simply another benefit scheme – it is a unique incentive structure that recognises the importance of an employee's wellness, and encourages ongoing healthy choices with tangible financial rewards in the form of PayBacks:
Offering unique value to small and medium-sized enterprises, the Discovery Corporate Integrator is available to employers with between 20 and 500 employees. To qualify, employees must:
To get sign up your organisation Discovery Corporate Integrator contact, please contact Ray or Kevin in our Employee Benefits department email eb@daberistic.com , tel (011)658-1333 Source: Discovery The Smart Life Plan was designed with younger clients in mind by using an efficient and relevant product chassis with simplified benefit options. It offers comprehensive and dynamic cover that protects both your clients’ future lifestyle and their families’ financial security. The Smart PayBack Fund allows your clients to receive up to 100% of their qualifying Smart Life Plan premiums back for managing their health and wellness and practising good driving behaviour. Key issues faced by young professionals The Smart Life Plan was designed with younger clients in mind by using an efficient and relevant product chassis with simplified benefit options. It offers comprehensive and dynamic cover that protects both your clients’ future lifestyle and their families’ financial security. The Smart PayBack Fund allows your clients to receive up to 100% of their qualifying Smart Life Plan premiums back for managing their health and wellness and practising good driving behaviour.
Unique features on Smart Life Plan
Smart Payback Fund Qualifying clients will accrue a minimum of 50% of their qualifying premiums annually towards their Smart PayBack Fund. The value of this Fund is automatically added to their Classic Life Plan PayBack on conversion (at age 30 or earlier through servicing) and is paid on their first policy anniversary at least five years after conversion. Clients can increase this accrual to up to 100% of their qualifying premiums by being healthy and driving well. UP TO 39% UPFRONT PREMIUM DISCOUNT By linking their Smart Life Plan to their other Discovery products, clients can receive an upfront premium discount of up to 39% through the power of Integration. Source: Discovery Discovery Purple Collection is an exclusive suite of products that has been designed to deliver the most comprehensive benefits and unsurpassed rewards. The Purple Life Plan: The Purple Life Plan from Discovery Life offers you the most comprehensive, efficient life cover; access to the best medical facilities in the world and funding for the cost of cancer exome sequencing in the event of a severe illness; flexible global protection; and the ability to increase your cover by up to 58% without additional underwriting. Purple Insure Plan: The Purple Plan from Discovery Insure offers you comprehensive vehicle and home insurance with enhanced limits, exclusive benefits – such as annual cellphone upgrades and automatic licence renewal – and a dedicated Discovery Insure Service Executive. The Vitality drive programme rewards you for driving well and gives you access to state-of-the-art safety features. Click here to read full brochure Request for a quote for a quote to upgrade to purple option, please , email info@daberistic.com or tel (011)658-1333 The Health Plan Protector – ensuring your family’s healthcare costs are taken care of. The Health Plan Protector will cover your family’s monthly health plan contributions for a period of five or 10 years upon a valid claim. The benefit amount will increase each year in line with the medical scheme contribution increases, up to a maximum of 20% per year. You may choose to cover yourself for death, disability and severe illness, or disability and severe illness, or death only. You also have the option to cover both yourself and your spouse. Every year we will calculate your unused health risk contributions by considering your medical scheme risk contributions and medical scheme risk claims over the previous year. These savings will be accumulated and a portion will be paid back to you, through either the Health Dividends or the Health Fund mechanism – depending on which option you choose. Health Dividends Allows you to receive up to 20% of your unused health risk contributions back every year, depending on your Vitality status, the number of years you have been a member of Discovery Vitality and whether you have a Discovery Card. The Health Fund Each year, your unused health risk contributions will be transferred into the Health Fund. Every five years, you can get up to 30% of your Health Fund back through the PayBack benefit, depending on your Vitality status. When you turn 65 or experience a lifechanging event, we will pay you the balance of your Health Fund. Request for a quote for your Health Protector Plan, please contact Kevin or Thato in our Life Department, email life@daberistic.com tel (011)658-1333 Source: Discovery |
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January 2025
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