Income protection against disability or illness

Discovery's Income Continuation Benefit protects your lifestyle if you become disabled or severely ill.

Protect your income and your financial security

Discovery's Income Continuation Benefit protects your income if you are no longer able to do your job.

Your monthly payout depends on the percentage of your salary you choose to insure, as well as the severity of your illness or disability and the impact that it has on your ability to work.

On temporary disability

You can receive up to 100% of your income (after tax) for up to two years if you become temporarily disabled.

On permanent disability

If you become permanently disabled, your monthly benefit amount will be upgraded to 100% of your after-tax income until your selected benefit expiry age. If you have insured less than 40% of your income, your benefit will be automatically upgraded to 2.5 times your insured amount.


Convert your health and wellness into additional income in retirement

Discovery Vitality members live longer, more productive lives. In recognition of this, the Income Continuation Fund on the Comprehensive option converts your health and wellness management through Vitality before retirement, into a significant financial asset after retirement that can be used to supplement your retirement income*.

How it works:

Choose your fund accrual percentage

At the start of your Income Continuation Benefit, a fund equal to 10% of your insured amount is automatically established. For an additional premium you also have the option of upgrading to the Buy-up Income Continuation Fund where 100% of your Income Continuation Benefit insured amount is deposited into this fund.

Grow your fund

Every year, an additional 10% (automatic option) or 100% (Buy-up option)** of your insured amount is deposited into your fund. It grows by your selected Annual Benefit Increase (ABI) on your Income Continuation Benefit as well as an adjustment that takes into account how well you are managing your health and wellness through Vitality and your health claims on your health plan administered by Discovery Health (if applicable).

Receive additional income in retirement

The accumulated Income Continuation Fund will be paid out in 10 equal instalments with the first payout being made at the end of the month in which you turn 65. This provides you with a substantial additional income in retirement, generated through your health and wellness management throughout your working life.

Market-leading features enhancing your protection

Automatic whole-of-life protection

The Income Continuation Benefit from Discovery Life automatically provides you with comprehensive whole-of-life protection at a lower effective premium compared to traditional income protection products that expire at retirement.

Immediate upgrade to 100% of your pre-disability income

If you become permanently disabled on the Comprehensive option, your benefit amount will be upgraded to 100% of your income (after tax). If less than 40% of your income is selected as your insured amount, you will receive an automatic upgrade of 2.5 times your insured amount. We will also waive your waiting period on permanent disability.

On the Essential option your insured amount will be boosted by 1.33 times if you become permanently disabled and unable to perform your nominated occupation.

Automatic lifestyle protection

We provide peace of mind on the Comprehensive option through a variety of benefits that cover all aspects of your lifestyle:

  • Automatic cover for your other qualifying Discovery product premiums for up to 24 months on temporary disability through the Contribution Protector
  • Protection for your entire family on the Classic Life Plan through the Family Protector Benefit
  • A four-month waiver on your qualifying Discovery Life Plan premiums after childbirth through the Maternity Premium Waiver Benefit.

Top-up Income Continuation Benefit

Protect up to 100% of your income (after tax) on temporary disability for up to 24 months by combining the Top-up Income Continuation Benefit with the Comprehensive or Essential Income Continuation Benefit.

Protect your annual bonuses

In recognition that many people earn a substantial portion of their income through annual bonuses, for an additional premium on the Comprehensive option, you can also select to protect your annual bonuses for up to five years upon experiencing a qualifying permanent disability through the Performance Bonus Protector.

Increase your payout every year during claim

Increase your payout each year by the consumer price index (CPI) or CPI + 3% on the Comprehensive option, or choose to keep your payout level.

Increase your cover without underwriting

Increase your cover by 20% without additional underwriting every three years, subject to a negative HIV test.

Receive retrospective payout

Certain professionals in private practice, who select a seven-day or a one-month waiting period, can get backdated payouts from day one if you suffer from a qualifying injury or illness.


* Please note that the Income Continuation Fund is a risk product and not an investment product and as such, has no lapse or surrender value.
** Accumulations to the Buy-up Income Continuation Fund occur every year for the first 20 years after adding this benefit (or until age 65, whichever is earlier).

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