Colour your world purple with Discovery's Double Purple Plan Vitality Fund offer

See life through purple-coloured glasses and enjoy unique benefits and boosted life cover at no additional premium. Discovery Life's bespoke life cover just got a valuable boost with the Double Purple Vitality Fund offer. Here's what you need to know...

The Purple Life Plan is a bespoke offering that is available for individuals needing R10 million or more life cover for themselves and their families. It's a prestigious product that affords you comprehensive cover on both local and international shores; and comes packaged with numerous distinctive features, such as the ability to convert all or part of your rand cover amount to dollars with no additional underwriting. On top of this, you can access the most advanced medical devices and treatments around the world.

Both new Discovery Life Purple Life Plan policyholders and those wishing to convert their current policies to a Purple Life Plan can now boost their cover to even more value with the Double Purple Plan Vitality Fund offer which is available between 1 April and 30 September 2022.

How does Discovery Life's Purple Plan Vitality Fund work?

"The Vitality Fund is available on all Purple Life Plans and is designed to help you increase your cover amounts at multiple fixed intervals, without being subject to additional underwriting," says Discovery Life Deputy Chief Executive, Gareth Friedlander.

"This makes it a dynamic mechanism that's an ideal way to further enhance the cover on offer for you. There is additional upside for you if you endeavour to live a healthy lifestyle, as you can earn even more life cover over time, with no further underwriting needed," he adds.

"A deterioration of health impacts your ability to ensure that you have sufficient life cover at a time you may need it most. So, the fund serves as a vehicle to dynamically increase your cover while you are capable of proactively taking care of your own health and wellness - and that cover is not just available for the immediate or short term, but for the duration of your policy," explains Friedlander.

"You can receive an extra portion of boosted cover in years one, four, and seven of your policy. Each portion of boosted cover is added at no additional initial premium and remains for three years before you have the option to purchase the cover permanently. This results in very efficient premiums, which means that you don't need to compromise on your short- or long-term life insurance needs," he explains further.

Here's how it works:

• Years 1-3: You receive 20% additional base life cover at no additional initial premium. After three years, you have the option to purchase that cover which was initially provided at no cost.
• Years 4-6: At the start of this period, if the previous portion of cover was purchased, you unlock an additional portion of the Vitality Fund which is up to 26% of your base life cover. The additional cover boost is subject to your past Vitality engagement levels and carries no additional initial premium.
• Years 6-9: After the sixth year, you can unlock a third portion of your Vitality Fund life cover which is up to 32% of your base cover. This is available for no additional premium when you purchase the second portion of the Purple Vitality Fund.

What is the Double Purple Vitality Fund offer?

"Now, rather than increasing your base life cover by 20% through the Purple Vitality Fund, you can increase your life cover by 40% during the first three years when you have the Double Purple Vitality Fund offer. This additional cover is provided at no additional initial premium. This essentially gives you a base life cover boost of 40% through the first portion of your Purple Vitality Fund."

So, how can you benefit from the Double Purple Plan Vitality Fund offer?

"Through the first portion of the Purple Vitality Fund, you normally benefit from unlocking 20% base life cover at no additional cost," explains Friedlander.

"Now, you can take up a Purple Life Plan (as a new client) or convert an existing policy to a Purple Life Plan and unlock an additional 20% during the same period. This effectively doubles the boost that you can unlock, earning you 40% additional base life cover during the first three years as a Purple Plan client. After three years, half of that 40% Purple Vitality Fund can be purchased at new business rates with the other half remaining at no additional premium for a further three years."

"This limited offer is a fantastic opportunity for you to give your life cover a valuable boost while you're able to live an active and healthy lifestyle which in turn, reduces your risk of adverse events like severe illness or disability. Yet should an unforeseen life event happen, this offer ensures that you have adequate cover that you can absolutely rely on," concludes Friedlander.

Learn more about the Double Purple Plan Vitality Fund offer here or speak to your financial adviser.

Discovery Life Limited, registration number 1966/003901/06, is a licensed life insurer, and an authorised financial services and registered credit provider, NCR registration number NCRCP3555. Product rules, terms and conditions apply.