Your world of Discovery

Transcription

1 Your world of Discovery 2018

2 Creating shared value Discovery s products are designed to help people change behaviours that influence their insurance risk and so create long term value for themselves, the insurer and society. It s a unique win-win model for Discovery, our clients and society as a whole. Discovery s Shared Value Insurance Model As clients improve their health and driving behaviour, they receive increased value through lower prices, enhanced benefits and rewards Clients Client incentives Healthy behaviour Society benefits from lower healthcare costs, improved productivity and safer roads Society Insurer savings Insurer The result of improved client mortality and morbidity is better margins and lower lapse rates for Discovery This shared value insurance model has been recognised internationally by Professor Michael Porter, The Wall Street Journal, Fortune Magazine, the Harvard Business Review, and many others. 2

3 Your world of Discovery Starting in medical aid in 1992, Discovery has since built the Vitality health programme, and has expanded its shared value offerings to include life insurance, credit cards, investments, and car and home insurance. Live well Spend well Hospital Benefit Above Threshold Benefit Chronic Illness Benefit Screening and Prevention Vitality Day -to-day Extender Benefit Maternity Benefit Medical Savings Account Purple Get healthier Save more Save earlier Move Active Purple This brochure is a summary of select product features from the Discovery Group product houses as well as healthcare products administered by Discovery Health. The content is a tailored summary and does not replace the individual Discovery product guides or the complete Discovery Health Medical Scheme member benefit guide. Please visit for more information. 3

4 Discovery Vitality The health programme that encourages and rewards you for living well Vitality and Disney nurture healthy families from the start with fantastic rewards Join Team Vitality SA s largest running and cycling club As you increase your Vitality status and get healthier, you enjoy great rewards Get up to 25% cash back on fitness gear with HealthyGear Get active in a variety of ways pts GET ACTIVE Get healthy Blue Bronze Silver Gold Diamond Lose weight and get rewarded with Vitality Weight Loss Rewards pts EAT HEALTHY PREVENTIVE SCREENING pts START HERE pts Complete your health checks and screenings Get up to 25% cash back on HealthyFood items Get up to 25% back on personal and family care items with HealthyCare Vitality Move for people starting out Vitality Active for young adults Vitality Move is available to all Discovery Health Medical Scheme members. Activate Vitality Move for FREE to win shopping rewards at Pick n Pay. Members can choose to upgrade for R35 per month and get up to R300 back on gym, shopping and movies. Designed specifically for year olds, Vitality Active encourages and rewards members as they get healthier and drive better. Members enjoy discounted gym access, weekly rewards like smoothies, coffees, popcorn or airtime, and they can earn surprise rewards. 4

5 The Vitality programme underpins all the Discovery businesses, encouraging members to live healthier lives, and rewarding them. Not only is a healthy lifestyle more enjoyable, it s been proven that Vitality members live longer and are less likely to develop lifestyle diseases. Enjoy even better rewards by paying with your Discovery Card Get active. Get Apple Watch 100% Get up to 75% cash back on a new fitness device with Device Booster 75% Get up to 25% cash back on a new bike with Bike Booster ENJOY MOVIES DISCOVERY CARD 35% Get rewarded TRAVEL MORE ACTIVE REWARDS 25% 100% 100% Get up to 100% cash back on a pair of running shoes with Shoe Booster Save up to 75% on your monthly gym fees and boost your savings up to 100% with Gym Booster Watch movies for half price at Ster-Kinekor and kids can watch for FREE, on completion of a Kids Vitality Health Review 100% Earn weekly coffees, smoothies and popcorn with Vitality Active Rewards. Plus, get goal streaks to earn surprise rewards Save up to 35% on local and international travel Boost your savings up to 100% on two local kulula.com bookings (base fare) per year with Flight Booster Vitality Purple for the most discerning clients Upgrade to Vitality Purple for exclusive Vitality services and rewards. Get access to a Discovery Purple Private Consultant for all your Discovery product and benefit needs. Enjoy exclusive rewards like up to 50% off top-of-the-range fitness devices, up to 25% off premier bicycle brands or golf clubs, up to 50% saving at the Purple Spa Collection and so much more. 5 Discovery Vitality (Pty) Ltd is an authorised financial services provider. Registration number: 1999/007736/07. Terms, conditions and limits apply.

6 Discovery Health Good health can change the world Medical Aid The Discovery Health Medical Scheme, administered by Discovery Health, offers a choice of 23 plans, designed to provide affordable, comprehensive cover to meet the healthcare needs of all its members. Each plan is supported by industry-leading digital healthcare technology and service that enables health plan management anytime, anywhere. KeyCare Core Smart Saver Priority Comprehensive Executive Clinical and actuarial data analytics Clinical care and coordination Service Healthcare delivery networks Digital healthcare technology Tracking and engagement Widest range of plans to choose from Affordable contributions that are on average 15.1% below the market Rich benefits, unlimited private hospital cover and full cover in our networks Access to the world s leading science-based wellness programme Discovery Health Medical Scheme, registration number 1125, is regulated by the Council for Medical Schemes and administered by Discovery Health (Pty) Ltd, registration number 1997/013480/07, an authorised financial services provider. Terms, conditions and limits apply. Cover depends on the chosen plan type. 6

7 Unique digital services HealthID HealthID is the first electronic health record application of its kind in South Africa. It provides doctors with access to members medical records to improve the quality of care. DrConnect When members cannot get to a doctor, they have trusted medical advice on their device or computer through the Discovery app or website. Connecting members with doctors anywhere, anytime. Track claims and benefits Order medicine Understand and manage health risks Download key documents Check in online for hospital admissions Use the Ask Discovery functionality on the website Gap Cover Discovery Gap Cover provides cover for shortfalls on in-hospital specialist claims, specific outof-hospital costs related to hospital admissions, and co-payments on approved cancer-related claims. Discovery Supplementary Gap Cover provides lump-sum payouts, premium protection and home support when you need it most. PrimaryCare Provides affordable, quality primary healthcare and emergency healthcare services for employees who cannot afford membership of a medical scheme. HealthyCompany A comprehensive corporate wellness solution offering health screening, employee support tools and integrated reporting. 7 Discovery Health (Pty) Ltd, registration number: 1999/007736/07, an authorised financial services provider and administrator of medical schemes. Terms, conditions and limits apply.

8 Discovery Life Life insurance that rewards healthy living SMART LIFE PLAN GLOBAL EDUCATION PROTECTOR ESSENTIAL LIFE PLAN CLAS LIFE P The Smart Life Plan offers intelligent life insurance for young professionals. Features include life insurance and income protection, and dynamic adjustments that cover high future income growth potential. Upfront premium discounts of up to 39%. Clients can benefit from the Global Education Protector, which not only ensures that their children s education is fully protected, but can fund up to 100% of their children s tertiary education, even if they don t claim. Local and international education protection. The Essential Life Plan offers efficient long-term protection against death, disability and severe illness. Cost-effective premium. Flexible financial protection. The Classic Lif comprehensiv protection ag disability and s Key fea 5 premium 39% premium Minimum premium of R % of qualifying premiums back for good health management. University Funder Benefit, up to 100%. Discovery Life Limited is a registered long-term insurer and an authorised financial services provider. Registration number 1966/003901/06. 8

9 Discovery Life provides comprehensive cover for a range of life-changing events, and rewards clients for being healthy and driving well. SIC LAN BUSINESS LIFE PLAN DOLLAR LIFE PLAN PURPLE LIFE PLAN e Plan offers e long-term ainst death, evere illness. Personalised protection for clients business assurance needs that helps promote business growth and legacy protection. The Dollar Life Plan offers life cover denominated in US dollars, with the ability to lock in a rand/dollar exchange rate for a defined period. Our most comprehensive life insurance product, for select clients with over R10 million local and global life cover. tures 0% in s back. upfront discount. A Principal PayBack Fund of up to 200 times the initial monthly premium. Five-yearly payouts based on good health management. Life cover denominated in US dollars. Dollar PayBack Fund of up to 335 times the initial monthly life cover premium. An immediate 20% boost to life cover at no extra premium through the Vitality Fund. 58% additional life cover with no underwriting. 9

10 Discovery Insure Car insurance that rewards good driving Smart Insurance for young drivers The Dynamic Plan The Essential Plan Designed for young drivers, smart options give clients an upfront discount on their car insurance premium for being responsible drivers and avoiding late night driving. 20% discount for avoiding latenight driving 25% off Uber, a smart alternative to getting around at night The Dynamic Plan is a hassle-free Plan that is ideal for price sensitive clients who want to enjoy immediate benefits. Excess flexibility and no excess if an accident is caused by an insured third party Upfront premium discount The Essential Plan is ideal for price sensitive clients who require at least R in household contents cover. Excess flexibility and no excess if an accident is caused by an insured third party Technology to keep you safe Unique safety features Digital servicing ImpactAlert: Clients get immediate emergency assistance if we detect a severe impact to their car, even if we can t get hold of them Vehicle panic button: Clients get immediate emergency assistance on their phone Find my vehicles: Clients can find their vehicles in real time Weather alerts: Clients get warnings of imminent bad weather Self-approved claims: Clients can submit and selfapprove their geyser and vehicle glass claims online or on their smartphone within minutes InstantCover: Existing clients can cover any new household contents and portable possessions purchases instantly and easily on their smartphone ClaimsView: Clients can view the progress of their claims online with real-time updates Discovery Insure Ltd is an authorised financial services provider. Registration number 2009/011882/06. Terms, conditions and limits apply. 10

11 Fuel rewards for driving well Discovery Insure provides comprehensive car and home insurance with unique driving rewards and safety features. Our plan range caters for different client profiles and offers unique features and benefits to suit every client need. The Classic Plan The Purple Plan The Classic Plan is ideal for clients who are financially prudent and value the features, benefits and cover limits provided. The Purple Plan is ideal for high net worth clients who have insured assets of at least R5 million and value personalised service. No excess for theft and weather related claims or if an accident is caused by an insured third party Car hire included Wider cover, higher limits, lower excesses Personalised service Annual cellphone upgrades Free asset inventory assessment Multi-vehicle benefit Rewards for driving well Get up to 50% back: Clients get up to 50% of their BP and Shell fuel and Gautrain spend back every month or an upfront discount on their comprehensive vehicle premium 0% increase: Clients on Diamond status get a 0% renewal increase on their comprehensive car insurance premium Enhanced Excess Funder Account: Clients can fund their new tyres at Tiger Wheel & Tyre using their Excess Funder Account at any time Active Rewards: Clients can get a coffee, smoothie, popcorn, airtime or discounted car wash for 100 kms of consecutive event-free driving. If clients achieve a 3-in-a-row goal streak they can earn exciting prizes including a dream holiday Strapped-in for safety: Clients can get up to 25% off their purchase of a selected child car seat every year 11

12 Discovery Invest The formula for successful investing Create and build wealth Flexible Investment Plans Endowment Plans Offshore Plans Guaranteed Return Plans Access to your money when you need it. Tax efficient medium term investment. Invest in global markets. Certainty of return. Get up to 100% discount on annual administration fees, and get up to 75% of asset management fees back if you also have a lump sum pre-retirement plan. Get up to 26% boost on your initial lump sum investment. Upfront boosts and built-in protection if funds underperform. Highly competitive guaranteed rates. A wide range of Funds for you to choose from Discovery Invest offers over 280 local and international funds to invest in, including over 130 of its own funds. Our Discovery Escalator Funds have a built in guarantee that ensures payment of at least 80% of the highest unit price the fund ever achieves during the investment period. Our Target Retirement Date Funds offer a lifetime investment strategy in a single fund. Asset allocation is automatically adjusted to increase the probability of target attainment. Digital features We also offer state-of-the-art consolidated digital interactive reporting of all your investments. Discovery Medical Investment Funds are uniquely designed to meet the funding of postretirement medical aid contributions, which are often the biggest monthly expenditure in retirement. Our hedge fund provides access to additional sources of investment returns. Discovery Life Investment Services (Pty) Ltd branded as Discovery Invest is an authorised financial services provider. Registration number 2007/005969/07. 12

13 Our investment solutions are built using our Shared-Value Investment Model as the underlying driver. It encourages clients to improve their financial behaviour with incentives that reward them for saving earlier, saving more and improving their health. Clients get extra value through our integration with other Discovery products and through our unique innovations within each investment plan. Plan for retirement Retirement Plans Preserver Plans Retirement Income Plans Discovery Retirement Optimiser The best way to achieve your retirement goals. Preserve your pension and provident funds from previous employment. Maximise your income in retirement. Most cost-efficient retirement funding in Rands or Dollars. Get up to 20% boost on your lump sum investment and up to 30% boost on additional investments. You can use these boosts to enjoy zero administration fees. Get up to 20% boost on your lump sum investment. You can use this boost to enjoy zero administration fees. 50% more income in retirement for 10 years. Convert your unused life cover into tax-free payments in retirement. Extra value through integration with other Discovery products Our Boosters TM encourage clients to start saving for retirement earlier and to live healthier lives. Our Protectors TM shelter clients investments if funds under-perform, or if unforeseen events occur. Our Fee Optimisers TM help clients increase the growth on their investments by giving them the ability to reduce their administration fees. Segment-specific benefits to encourage positive behaviour change Young professionals have access to our Flexible Investment, Retirement and Preserver Plans at significantly lower minimums. Our exclusive Purple range for high net-worth clients offers enhanced features and extra specialised discounts on asset management fees. 13

14 Some of the benefits of integration Our core purpose remains to make people healthier and enhance and protect their lives. This is further evidenced in our integrated product offering that provides unique and valuable benefits to clients. Fully integrated clients save on premiums, receive discounts, paybacks and rewards, which all adds up to significant savings. 14

15 Discovery Health Medical Scheme and Vitality members get up to a 32% upfront premium discount and up to 50% of their Discovery Life premiums back Discovery Life clients can get an upfront boost of up to 26% on their lump sum investment and can receive up to a 50% boost to their retirement income Discovery Vitality members get up to 25.75% upfront premium discount and up to 20% of their Discovery Life premiums back Qualifying Discovery Card holders can receive a guaranteed 7.5% of their Discovery Life premiums back Qualifying Discovery Life clients can receive a 5% automatic discount on their Discovery Insure premiums Discovery Vitality members can multiply their Discovery Miles by up to 10x Qualifying Discovery Card holders get an automatic discount of up to 25% on their Discovery Insure premiums 15

16 Discovery Contact Centre Discovery Limited. Subsidiaries of Discovery Limited are authorised financial services providers. GM_47154DHM_08/09/17_V17