Frequently asked questions
1. Can I change the beneficiary on my policy?
Yes. You must complete a beneficiary nomination form and send it to Discovery Life either by email on lifeinfo@discovery.co.za or by fax on 0860 54 33 99.
2. How do I update my bank details?
We need the following information by email or fax:
- Bank name
- Accountholder
- Account number
- Branch name
- Branch code
- Account type for example cheque
Important: to have your bank details updated on our system we need proof of the account. We will accept a cancelled cheque, copy of a bank statement or a letter from the bank confirming the bank details.
Only the owner of the policy or the financial adviser on record can request the changes without submitting a signed letter.
3. How can I qualify for a reduced premium on my Discovery LIFE PLAN and enjoy the PayBack™ Benefit?
You can enjoy reduced premiums through one of our exciting Integrator products – Health Integrator, Vitality Integrator and DiscoveryCard Integrator.
The Discovery Integrators give you the ability to control your premium increases and, in certain cases, receive the PayBack Benefit.
You can find more information about the Discovery Integrators in your LIFE PLAN Guide, on our website or by contacting your financial adviser.
4. Do I qualify for a tax certificate on my Discovery LIFE PLAN?
You can access your tax certificate on the Discovery website by selecting ‘Schedule and Statements’.
A tax certificate is only available on a policy with the following tax deductible benefits:
- Discovery retirement Optimiser – Retirement Annuity
- Income Continuation Benefit
5. How will I know if I have the latest Discovery Life benefits?
Discovery Life is continually enhancing our existing benefits. Please remember that these enhancements are not automatically added to your policy. You may be eligible to upgrade your benefits to ensure that you enjoy maximum value from your policy. Contact your financial adviser for a detailed analysis and advice on how to upgrade to these benefits.
6. Where can I find my financial adviser’s details?
You can find your financial adviser’s details on the Discovery website under your 'life policy', 'owner details'. You must be logged in to view this information.
7. How can I apply for a Discovery LIFE PLAN?
You can apply for a Discovery Life policy through an accredited Discovery Life financial adviser. If you don’t know of a Discovery Life accredited financial adviser and are interested in our product, please email the following information to lifeinfo@discovery.co.za. We will gladly arrange for a financial adviser to contact you.
- Name and surname
- Date of birth
- Language preference – English or Afrikaans
- Name of the area in which you are situated
- Discovery Health membership number if you are a member
- Cellphone number
- Work number
- Home number
