Life Cover

Life insurance that rewards healthy living
Life insurance ensures that you and your family are financially protected in the event of death, disability, severe illness or loss of income. No matter which stage of life you are in, Discovery will protect you financially and reward you for getting healthier.

With Discovery, you get even more value by linking your Life Plan with your other Discovery products through Integration. This is because we have access to the information which allows us to understand the steps you take to manage your health and financial wellness – allowing us to reward you for improving your health.

You can enjoy an upfront premium discount of up to 42%, which you can maintain over time.

Get up to 50% of your premiums back for living well
The PayBack benefit offers you financial benefits throughout your policy term. You can get up to 50% of your premiums back every five years. You can also choose to get a portion of your PayBack yearly for the first 10 years of your policy, in which case you can get up to 10% of your premiums back every year.

Discovery offers you and your family flexible personal financial protection at a cost-effective premium and we reward you for living a healthy life and managing your finances.

Why do I need life insurance?

Life insurance ensures that you and your family are financially protected in the event of a death, disability, severe illness or loss of income. The life cover portion pays out a lump sum in the event of a death which can then be used by you or your loved ones to cover any financial obligations ? from funeral costs to outstanding home loans ? that may arise from your death.

In addition, severe illness, disability and income protection benefits can cover your financial needs in the form of either a lump sum payout or a regular income. You can also cover the education costs of your children should you die, become disabled or suffer from a severe illness. We’ve designed our products to provide relevant, comprehensive benefits that adapt to your changing needs. To find out more about our products, contact your financial adviser or get life insurance quote from us today.

You’ve worked hard to ensure the success of your business. Now, protect it.
Discovery’s Business Life Plan allows you to select cover for disability, severe illness and death, through a range of comprehensive benefits, ensuring that your business is protected.
You can also qualify for a 50% discount on lump-sum disability cover for the first three years of your policy.

BrightRock’s needs-matched life insurance is different from other products in the market

It’s uniquely structured to allow you and your financial adviser to work together to create the best life insurance solution – just for you.

Most life insurance policies bundle your needs into a large, single lump-sum that grows every year. But you have different needs: some long-, and others short- or medium-term.

With BrightRock you don’t pay for cover you don’t need

Your cover is designed to exactly match each specific financial need. Because your cover is the perfect fit for your needs, there’s no waste. So it’s more cost efficient and sustainable. And if your life should change and you need more cover, it’s easy to get it thanks to our unique needs-matched design.

Without unnecessary cover, every premium rand you spend with us works so much harder for you. That’s how we’re able to save you money and give you, on average, 40% more cover for every premium rand!

You get a unique BrightRock policy, designed to meet your specific needs

With BrightRock, you decide exactly how to cover your different financial needs if you were to get ill, suffer an injury or die. For your different needs, you can choose:

• Whether you want your cover to pay out as a lump-sum or regular monthly payment;
• How your cover should grow and change to keep meeting your needs over time
• The most appropriate duration for your cover; and
• You can change your cover when your needs change.

The following features are built into standard BrightRock policies at no extra cost:

• Cover conversion facility – Only BrightRock gives you the flexibility to redirect your premiums for cover you no longer need to other financial needs and insurance events – free of medical underwriting (to a maximum of R10 million). You’re guaranteed you can always buy more death cover, even when you’ve claimed against your policy;
• Extra cover buy-up – With the extra cover buy-up, you can buy more cover with no medical underwriting (to a maximum of R10 million, depending on the cover you already have) when your life changes;
• Yearly secured cover facility – With the yearly secured cover facility, you have an annual opportunity to buy cover to the value of the lump-sum amount by which your income protection cover has reduced (if at all) during the course of that year, with limited underwriting.

You enjoy unrivalled flexibility and protection when you claim

You have the option, if you choose a lump-sum for your income-related needs, to change your choice at claim-stage. So you can receive a recurring pay-out instead, on guaranteed terms. Only BrightRock offers you this level of choice and flexibility, giving you the best of both worlds.

Plus, with our market-leading claims definitions, you can count on the most comprehensive, certain cover available in the market today.

We use objective medical criteria based on clinical best practice guidelines to assess your claims for illness and injury. This means greater choice and flexibility for you — and above all, greater certainty that we’ll pay your valid claims.

What is Life Cover?

Ensures that your family has sufficient income.
Life Cover ensures that your financial responsibilities are taken care of in the event of your death. It replaces the income you would have earned during your working life, ensuring that your family is financially secure.

When should I get Life Cover?

If anyone depends on you financially, the earlier the better.
Although age may play a role in how much Life Cover you need, the decision to take out Life Cover has nothing to do with age. If anyone else depends on your income, you should consider taking out Life Cover. For example, if you’re married, you and your spouse may want to take out Life Cover for each other. Many married couples rely on two incomes to cover their monthly expenses, and if one spouse dies, the other spouse would need to cover those expenses on one income.

It is advisable to buy Life Cover earlier because you never know when you are going to need it and, as you get older, Life Cover gets more expensive.

How much Life Cover do I need?

Consider what your loved ones will need in the coming years.
To find out how much Life Cover you need, work out what portion of your income your family needs today. Because that is what they will need if you die tomorrow. The next step is to calculate the lump sum that will generate this income up to your planned retirement age, taking inflation into account.

Life Cover pays your Beneficiaries a lump sum after your death. The amount should be sufficient to settle outstanding debts and financial costs. The amount required can be determined with assistance from your financial adviser.

Liberty’s Lifestyle Protector is designed to meet your changing needs throughout life. It is flexible enough to give you the cover that you need to match your circumstances today, as well as adapt to your changing needs, as they unfold.

The Life Cover benefit available under Lifestyle Protector provides your nominated beneficiaries a lump sum in the event of your death.

Benefits

The Life Cover benefit available under Lifestyle Protector provides your nominated beneficiaries with a lump sum in the event of your death.

You may wish to leave something behind to your loved ones and ensure your estate is taken care of in the event of your death.

If you are diagnosed with a terminal illness, you can choose to be paid all of your life cover amount with the Terminal Illness benefit to get your financial affairs in order.

A financial adviser can help you decide on the appropriate amount necessary to meet these needs. Consider the Immediate Expenses benefit for the financial ease of your family.

Life Cover may be taken as a single entity on Lifestyle Protector. However, to get the full benefit of Lifestyle Protector, consider several benefits to ensure full risk protection for you and your family.