With the COVID-19 pandemic continuing to affect every facet of our society, Discovery is taking a proactive stance in encouraging clients to vaccinate themselves; and in so doing, help South Africa achieve its goal of herd immunity.<\/p>\n
Now, as a market first, Discovery Life is using behavioural economics to encourage new clients to get vaccinated.<\/p>\n
When taking out a new qualifying policy with Discovery Life, clients can get as much as their first years\u2019 worth of premiums back, guaranteed.<\/p>\n
With life insurance arguably more important than ever, Discovery Life is encouraging clients to make the responsible choice in terms of vaccinating themselves, as well as ensuring that they and their families are financially secure.<\/p>\n
Discovery Life has seen the significant impact that the COVID-19 virus has had and continues to have on our clients.<\/p>\n
The presence of the COVID-19 virus significantly increases clients\u2019 mortality risk regardless of their age.<\/p>\n
In fact, the business has received life cover claims in every age band. Furthermore after being diagnosed with COVID-19, according to Discovery Life data, there is a substantial increase in a client\u2019s mortality risk.<\/p>\n
For example, a mid-40-year-old client has a 10-times higher mortality risk after being diagnosed with COVID-19 relative to their pre-COVID risk.<\/p>\n
Therefore, Discovery Life recognises both the importance and benefits of vaccination, and would therefore like to encourage clients to make the healthy choice of getting vaccinated.<\/p>\n
\u201cFor all new clients who take up one of our qualifying life plans, a benefit will be offered to recognise the value of vaccinations in reducing risk,\u201d says Discovery Life Chief Executive, Riaan van Reenen.<\/p>\n
\u201cThe Vaccination Max PayBack Offer<\/em><\/strong> is the first of its kind, in that it incorporates the impact of vaccinations into our risk pricing structures at the underwriting stage.\u201d<\/p>\n \u201cAll clients who have been vaccinated or commit to being vaccinated can get up to 100% in premium PayBack accumulation \u2013 the Shared-value mechanism built into the design of our life plans \u2013 at the first anniversary of their new policy.\u201d van Reenen explains further.<\/p>\n South Africa\u2019s vaccination programme is well underway, with all 18-year and older lives being eligible for vaccination from 1 September 2021, effectively covering the entire insured population.<\/p>\n To date<\/strong><\/a>, South Africa has administered more than 7 million vaccine doses, with the rate of vaccinations accelerating.<\/p>\n \u201cThe third wave of COVID-19 saw the number of daily confirmed infections reach 26 500 at its peak<\/strong><\/a><\/strong>.”<\/p>\n “This far exceeds the 22 000 daily confirmed cases during the peak of the second wave<\/strong><\/a>,\u201d explains van Reenen.<\/p>\n \u201cHospital admissions during the third wave have surpassed those experienced during the peak of the second wave.”<\/p>\n “By isolating the components of what drives a COVID-19 wave, we can reduce the negative outcomes of each wave.”<\/p>\n “We can target controllable influential factors and focus on the various means that help to minimize their impact.”<\/p>\n “Vaccinations are an important factor here \u2013 especially while the Delta variant is so dominant.\u201d<\/p>\n \u201cWe know that the Delta variant is 97% more transmissible than the original lineage of this virus.”<\/p>\n “By comparison to the Beta variant, it is between 30-60% more transmissible. It has also led to more hospitalisations due to more infections,\u201d adds van Reenen.<\/p>\n Scientifically documented evidence across the world is increasingly showing the efficacy of vaccines while managing infection caseloads.<\/p>\n Both infection and mortality rates are declining as the number of vaccination administrations increase.<\/p>\n \u201cData from the UK shows that after just one dose of the Pfizer-BioNTech vaccine, one of the standard vaccines being used in South Africa, the likelihood of hospitalisation after contracting the Delta variant is reduced by as much as 94%.”<\/p>\nVaccinations work \u2013 and are backed by science<\/strong><\/h3>\n