With Discovery Life’s Double PayBack Benefit, you could earn additional cash rewards through your life insurance plan.
How does receiving up to 100% of your premiums back in cash sound?
The PayBack benefit is built-in to the Discovery Life Shared-value Insurance business model, whereby a percentage of your life insurance premiums are paid back to you at set periods of time.
That’s extra money in your pocket, simply for living a healthy lifestyle.
Life insurance that rewards you for living well
Life insurance provides individuals with the means to create a financial security net that benefits their loved ones should they be negatively impacted by ‘unthinkable circumstances’.
In the event of death, disability, or severe illness, or even loss of income, life insurance sees to it that those closest to you can continue living a productive, fruitful and healthy life.
“The beauty of the Discovery Life’s insurance portfolio is that all the policies on offer are structured to be relevant to a person’s life – both in the immediate future and down the line,” said Discovery certified financial advisor, Claire van Wyk.
“Packed with comprehensive benefits, a policy can be adapted at any stage should your needs change.”
“The Discovery Life Plans are flexible enough to accommodate changing needs and still remain comprehensive,” she added
“What makes the Discovery Life Plans worthwhile is that they offer policyholders more value,” said van Wyk.
“We all wish to get the most out of life and lead healthy lifestyles – our policies encourage that with a rewards – based programme.”
“When you live well and manage your money better, life becomes that much ‘richer’,” she noted.
The PayBack Benefit that offers you a little more
Discovery Life is ramping up their much-loved PayBack benefit, offering you the ability to earn up to 100% of your life insurance premiums back in cash when you take out a Discovery Life policy.
By simply selecting the Double PayBack option and choosing to receive your PayBack five years later, you are able to double the PayBack that you receive – earning up to 100% of your qualifying premiums.
New to the PayBack benefit? Here’s how it works
Once you have a comprehensive Discovery Classic or Purple Life Plan in place, you can link it to various other Discovery products for added value.
Additional cash payouts through your policy
With Discovery’s PayBack you can get substantial cash back throughout your policy term by managing your health and wellness.
1. Annual guaranteed PayBack of up to 10% back for the first 10 years of a policy
By adding the Financial Integrator to your Comprehensively Integrated Classic or Purple Life Plan, you can receive a guaranteed percentage of your premiums paid back in cash each year for the first 10 years.
2. Five-yearly PayBack of up to 50% back
Additionally, you can get up to 50% of your premiums back every five years up to age 65.
“PayBacks are a way to share value with our clients,” said van Wyk.
“Policyholders who live healthily stand to benefit from rewards generated throughout their policy term. These types of rewards can really add value to a person’s quality of life – I see this in what I do almost every day.”
Discovery Life Limited. Registration number 1966/003901/06, is a registered long-term insurer, and an authorised financial services and registered credit provider, NCR Reg No. NCRCP3555. Product rules, terms and conditions apply.