GREENLIGHT DISABILITY COVER

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1 GREENLIGHT DISABILITY COVER DO GREAT THINGS EVERY DAY

2 DISABILITY COVER INTRODUCED A lot depends on your ability to earn an income, like your family and the lifestyle you enjoy. It s no wonder you cannot overlook the need to insure yourself and your income against a sickness, injury or severe illness. Disability cover gives you the assurance that you ll be able to adjust your lifestyle and replace the income lost during the period in which you cannot work. GREENLIGHT has a range of disability cover solutions to suit everyone and their individual needs. We offer protection for events that range from a bad flu that has you booked off for more than 7 days to the most severe of disabilities that leave you permanently unable to work. It doesn t matter who you are or what you do, we have a solution for you. With the help of a financial adviser, you can rest assured knowing that a disability doesn t have to cost you your income, savings or lead you into debt. You are your most valuable asset; cover yourself with GREENLIGHT Disability cover. 01

3 DISABILITY COVER DEFINED GREENLIGHT has various disability cover solutions to meet your financial needs when you are ill or injured and unable to work. Our solutions are designed to replace your income for a short or long period and help you afford the immediate expenses you incur because of a disability. Short-term income replacement To replace your income for a short period while you recover or wait for your disability to be declared permanent SICKNESS INCOME Pays up to 24 monthly income payments when booked off sick. TEMPORARY INCOME Pays up to 24 monthly income payments when you can t work because of an illness or injury or are functionally impaired. Short and long-term income replacement To replace your income if you re disabled or impaired for a long period or permanently Adjusting your lifestyle A once off payout to help you afford immediate expenses like wheelchairs, paying off debt, etc. & DISABILITY INCOME Pays a monthly income for as long as you can t work, whether temporarily or permanently because of an illness, injury or functional impairment. FUNCTIONAL IMPAIRMENT INCOME Pays a monthly income for as long as you re functionally impaired, whether temporarily or permanently. EXTENSIVE DISABILITY Pays a once off lump sum when you permanently can t work because of an irreversible illness, injury or functional impairment. Includes partial payouts for less severe impairments and cover for child disabilities. COMPREHENSIVE DISABILITY Pays a once off lump sum when you re permanently occupationally disabled or functionally impaired. FUNCTIONAL IMPAIRMENT LUMP SUM Pays a once off lump sum when you re permanently functionally impaired. Includes partial payouts for less severe impairments. 02

4 DISABILITY COVER MADE PRACTICAL To get to your most suitable disability cover solutions, there are some things you need to consider. Check whether you have sick leave days at work because it informs the waiting period you need to select on certain benefits to ensure that your income gets replaced as soon as possible. Check if you have disability cover with your employer or another insurer to avoid over-insurance and to see where your shortfalls are. It s important to also check whether or not you have enough savings to pay for immediate costs like a wheelchair. To illustrate how these factors play a role in choosing the right disability cover for your short & long-term income replacement and lifestyle adjustment needs, we ve profiled five personas so you can see which disability cover solutions are most suitable for them based on their profiles. SELF-EMPLOYED PROFESSIONAL EMPLOYED PROFESSIONAL EMPLOYED SEMI-PROFESSIONAL TRADESMAN HOME EXECUTIVES AND STUDENTS Zoleka, a self-employed dentist Gets an income from her business Has no sick leave Has no disability cover Won t earn an income if she can t work Pamela, an accountant for a corporate company Gets paid a monthly salary Has 30 days sick leave over a 3 year cycle, during which she ll get paid Her income will be affected if booked off longer than her sick leave days Has limited disability cover from her employer Sandra, a marketer for a corporate company Gets paid a monthly salary Has 30 days sick leave over a 3 year cycle, during which she ll get paid Her income will be affected if booked off longer than her sick leave days Has disability income cover from her employer for permanent disabilities Anthony, a mechanic who runs his own business Gets an income from his business Has no sick leave There ll be reduced turnover if he can t work Has no disability cover Siya, a stay-at-home dad Doesn t earn an income Has no sick leave Has no disability cover Their household income would be affected if he became disabled because they d need to hire help for the tasks he can no longer do Sickness income benefit (7 days waiting period) Sickness income benefit (1 month waiting period) Pays up to 100% of her net income if she is booked off sick for longer than 7 days to replace her income as soon as possible Disability income benefit (24 months waiting period) Pays up to 100% of her net income if she can t work for longer than 24 months due to disability or impairment Ensures that she continues to receive an income if she still can t work after her 24 monthly income payments from her Sickness Income benefit Pays up to 100% of her net income if she is booked off sick for longer than 1 month to replace her income once her sick leave is depleted Disability income benefit (24 months waiting period) Pays up to 100% of her net income if she can t work for longer than 24 months due to a disability or impairment Ensures that she continues to receive an income if she still can t work after her 24 monthly income payments from her Sickness Income benefit Disability income benefit (1 month waiting period) Pays her up to 100% of her net income if she can t work for longer than 1 month due to an illness or injury Ensures that she continues to earn an income even when her sick leave days are depleted Functional impairment income benefit (1 month waiting period) Pays him a monthly income if he s functionally impaired for longer than 1 month Ensures that the income he s not making while ill or injured is replaced as soon as possible Functional impairment income benefit (1 month waiting period) Pays him a monthly income if he s functionally impaired for longer than 1 month He can use the money to pay for recovery and hire a helper Disability lump sum benefit Pays her a once off lump sum if she is permanently disabled or impaired She can use this money to buy a wheelchair or make other lifestyle adjustments Disability lump sum benefit Pays her a once off lump sum if she is permanently disabled or impaired She can use this money to pay off her debt or make other lifestyle adjustments Disability lump sum benefit Pays her a once off lump sum if she is permanently disabled or impaired She can use this money to modify her car or make other lifestyle adjustments Disability lump sum benefit Pays him a once off lump sum if he is permanently disabled or impaired He can use this money to install a wheelchair ramp in his house and make other lifestyle adjustments Functional impairment lump sum benefit Pays him a once off lump sum if he s permanently functionally impaired He can use the money to pay for alternative treatment and make other lifestyle adjustments 03 04

5 DISABILITY COVER SUMMARISED INCOME S LUMP SUM S SICKNESS INCOME TEMPORARY INCOME DISABILITY INCOME FUNCTIONAL IMPAIRMENT INCOME BUSINESS OVERHEADS REPLACER EXTENSIVE DISABILITY LUMP SUM COMPREHENSIVE (AND BUSINESS) DISABILITY LUMP SUM FUNCTIONAL IMPAIRMENT LUMP SUM PAYS FOR TEMPORARY DISABILITY OR IMPAIRMENT PAYS FOR PERMANENT DISABILITY OR IMPAIRMENT WHAT IT COVERS PAYS FOR FUNCTIONAL IMPAIRMENTS COVERED AT 100% PAYS FOR FUNCTIONAL IMPAIRMENTS COVERED AT 75%, 50% AND 25% OFFERS WHOLE-LIFE COVER COVERS CHILD DISABILITIES WHEN IT PAYS PAYS WHEN YOU RE BOOKED OFF SICK PAYS WHEN YOU RE OCCUPATIONALLY DISABLED PAYS WHEN YOU RE FUNCTIONALLY IMPAIRED PAYS AN INCOME HOW IT PAYS PAYS A LUMP SUM NO NEED TO PROVE LOSS OF INCOME WHEN CLAIMING FROM AN INCOME ADDITIONAL FEATURES Covers you during gaps in employment and when on special leave Covers fractures Covers fractures Maternity benefit Waiting period reduces to 1 month after retirement if taken out for whole life Covers fractures Maternity benefit Covers fractures 05 06

6 DISABILITY COVER DEMYSTIFIED Selecting the right disability solution may seem daunting when you don t understand the terminology or concepts and how they differ from each other. To help you along, we ve simplified some of the terminology so you can understand disability cover even better. OWN OCCUPATION The inability to do your current job because of an illness or injury. OWN & REASONABLE OCCUPATION The inability to do your own or any reasonable job (taking into account your education, training, experience and work history) because of an illness or injury. FUNCTIONAL IMPAIRMENT The loss of function in certain parts of the body, whether it s physical or mental. You can claim if you suffer a functional impairment, and we will not assess loss of income. PHYSICAL IMPAIRMENT Covers you for the loss of limbs, the ability to hear, see or speak, severe burns, facial disfigurement or being permanently confined to a bed or wheelchair. INCOME A monthly payment to replace the income you aren t earning while you re disabled because of an illness or injury. This money can be used to see to your monthly obligations. You don t need to be permanently disabled to claim from these types of benefits. VS LUMP SUM A once off payment to help you adjust your lifestyle or generate an income if you are disabled. You need to be permanently disabled to claim from these types of benefits. SICKNESS INCOME COVER It s exclusive to selected graduates & professionals. It pays you an income if you are booked off sick for longer than the elected waiting period. We will not assess loss of income when claiming from this benefit. TEMPORARY INCOME COVER Provides cover for self employed and employed people. It pays a monthly income when occupationally disabled or functionally impaired to bridge the gap left by sick leave. To claim from this benefit, you need to prove that you have a loss of income. 07

7 GET GREAT ADVICE At Old Mutual, we encourage you to use the help of our financial advisers or your broker to guide you along your journey of planning your financial future. They will do a financial needs analysis to identify the kind of cover that will best meet your needs and your budget. Speak to an Old Mutual financial adviser or a broker about GREENLIGHT Disability cover. Call us on or visit oldmutual.co.za/greenlight to find an adviser or find out more about the rest of our solutions. Disclaimer The examples used in this brochure are given to explain the GREENLIGHT Disability product range and do not constitute advice. You need to speak to your financial adviser or your broker to get the most suitable solution for your needs. 08

8 Speak to your financial adviser or broker or call Visit Contact your Old Mutual Financial Adviser for more or information. your Broker. Old Mutual is a Licensed Financial Services Provider