PayBack + 20% = One of 2020’s most rewarding life insurance offerings

“We don’t just provide comprehensive cover, we engage with our clients frequently to ensure that they receive the most value out of it that is possible,” says Discovery certified financial adviser, Claire-Leigh van Wyk.

“This is the beauty of the Shared-Value Insurance model that underpins it all. With integrated Discovery Health, Vitality and Bank products, we incentivise and encourage clients to take proactive responsibility, and improve their health and financial wellness on a daily basis.”

The value of PayBack

“With this consistency, value is created for both client and insurer. This is what is shared back to clients as cash payments. The PayBack benefit is a rewarding means of ensuring that positive behaviours unlock as much benefit for clients as possible,” she adds.

“It’s an accurate rewards structure that amplifies an already comprehensive cover offering, ensuring that policyholders always gain value that best supports a healthier way of life.”

Policyholders really do have the upper hand when managing their health and finances well. Discovery Life currently rewards policyholders with more than R2.8 billion in PayBacks and premium discounts every year. The largest single PayBack paid out to date was over R1.3 million.

This just goes to show – the Shared-value model works and is benefitting clients well as they engage with their policies. Now, to celebrate Discovery Life’s 20^th anniversary, clients can benefit from even more value, through enhanced PayBacks.

How does the PayBack + 20% offer work?

“No matter what your Vitality status as a Discovery Life policyholder, or your health claims (if Health Integrated), all clients who take up the offer get an additional 20% Payback accumulation,” explains van Wyk.

The traditional PayBack matrix allows policyholders to earn up to 50% back with Health integration and up to 20% with Vitality Integration. Clients can also select the Double PayBack option, in which case they can get up to 100% of their premiums back in cash, by choosing to delay their PayBack payments by 5 years.

“When clients choose the Double PayBack option on new policies and take up the offer, they will get an additional 20% PayBack. This additional accumulation will be earned for the first 3 years of the policy.”

“After 3 years, the additional 20% of this limited offer falls away and clients can then revert to their normal Double PayBack matrix.”

So, policyholders receive additional value through guaranteed PayBacks irrespective of their health claims or Vitality status, as applicable.

“Whether on Blue or Diamond Vitality status, all policyholders can benefit from the Shared-value model and receive a significant amount more in PayBacks while we celebrate our 20^th year in business,” adds van Wyk.

It is important to note that the overall maximum PayBack accumulation that a client can earn is 100%.

To learn more about how this benefit can best work for you and your life plan, contact your financial adviser today.