Discovery Life Insurance

Discovery Life is a relatively new insurance company, which is part of the newly emerged powerhouse that is Discovery Holdings, which has grown into a mammoth entity in the back of its wildly successful medical aid products. It is now a well-established, and very importantly, a financially stable company that has achieved the kind of financial standing necessary to successfully offer insurance products. It was a welcome addition to the insurance industry, given the huge popularity of the company, thanks to its fresh approach to the health care industry.

Discovery Life Insurance pitches its offerings as innovative living insurance products to maintain standards of living when life-changing developments occur. The Discovery Life Plan is the centrepiece of what the company has to offer. Around your policy is a wide and, at first sight, bewildering range of configurations, finding plans and integration options.

There is a Global Linkage and Future Fund which allows you to choose stock market portfolios to protect and enhance your life insurance. There are 3 tiers of funding plans (silver, gold or platinum), which allow you to choose whether you want to fix your premiums or have them increase each year - and paid-up and lock-in options on top of that. Then you have a Health Integrator with Payback - this allows you to integrate your insurance with your Discovery Vitality membership, in return for discounts on your premiums. By integrating your insurance with your Discovery credit card, you can further decrease your premiums. The Income Continuation Protector allows you to ward off future disaster by ensuring a steady income. The Discovery Card Protector pays your outstanding balances on your credit card and cover crucial living expenses for 12 months. Severe Illness Benefit covers all major physiological problems, for your family and parents as well. Finally the Health Plan Protector will cover your medical aid contributions should you not be able to.