Global Education Protector limited offer: Minimum funding of up to 33% of tertiary tuition fees

 

Discovery Life's innovative Global Education Protector not only protects your children at every stage of their education journey but also allows you to get up to 100% of your children’s tertiary tuition fees funded*, even if you don't claim, by simply leading a healthy lifestyle. When you take out a Global Education Protector, Discovery Life will immediately fund a minimum amount of up to 33% towards your children's tertiary tuition fees through the University Funder Benefit.

Protecting education and rewarding improved health and wellness

In 2017, Discovery Life launched a new Global Education Protector Benefit which not only protects your children at every stage of their education journey, ensuring that the actual costs of education will be covered if something happens to you, but also allows you to get up to 100% of your children's tertiary tuition fees funded* through the University Funder Benefit, even if you don't claim, by simply leading a healthy lifestyle.

Protecting your children's education with the Global Education Protector

  • The Global Education Protector is currently protecting more than 15 000 children in South Africa
  • Clients who have the University Funder Benefit, are engaging in healthier behaviours with Vitality 200% more
  • The University Funder Benefit is projected to fund more than R1.4 billion in children's tertiary education.

Out of more than 320 innovations from 45 countries across 5 continents, the Global Education Protector placed as the best Disruptive Life Insurance Product at the Efma−Accenture Global Innovation in Insurance Awards.

Minimum funding of up to 33% of tertiary tuition fees

To encourage further engagement in healthy behaviour, Discovery Life is providing an opportunity to take out this international award winning Global Education Protector (GEP) with an immediate guarantee of up to 33% as funding towards your children's tertiary tuition fees through the University Funder Benefit.

The guaranteed percentage is based on the child's age when you take out the policy and on the benefit selected, as set out in the table below. By engaging in Vitality, you can increase the amount of tertiary education fees that we will fund to up to 100% *.

Case study

Jack and Mary have just had a baby girl, Kim. They want to ensure that Kim's future education needs are fully protected, so they decide to take out Discovery's Private Global Education Protector and automatically get 10% of Kim's tertiary tuition fees funded.

From inception, Kim's future education needs are not only protected if a qualifying life-changing event happens to either of her parents, but Discovery Life has immediately guaranteed to fund at least 33% of Kim's tertiary tuition fees through the Global Education Protector offer.

Jack and Mary want to live long, productive lives so they ensure that they manage their health and wellness and engage in the Vitality programme. As a result of their engagement in Vitality over the first year,during which they both reach Gold Vitality status, they earned an additional 4% funding towards Kim's tertiary tuition fees.

Jack and Mary continue to manage their health and wellness each year and reach Gold Vitality status for the next two years, followed by a Diamond Vitality status from year four onwards.

As a result of her parents' commitment to manage their health and wellness, when Kim finishes high school at age 18, Discovery Life will fund 97% of her actual University tuition fees for a three year degree, subject to the specified limit.

Kim decides to study towards a degree in accounting at Wits, which costs R44 740 a year. This means that every year for three years, Discovery Life will pay R43 398 of Kim's tuition fees (R44 740 x 97%), for a total payout of R130 194*.

This offer will apply to all new ancillary and standalone Global Education Protector policies submitted between 9 August 2018 and 15 December 2018, and with a start date between 1 August 2018 and 1 March 2019 (included). Please note that existing Global Education Protector clients that upgrade to the latest version can qualify for the offer.

Discovery Life Limited. Registration number 1966/003901/06, is a registered long-term insurer, and an authorised financial services and registered creditprovider, NCR Reg No. NCRCP3555

 

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