BENEFIT VERSION REFERENCE GUIDE

BENEFIT VERSIONREFERENCE GUIDEPurple, Classic and Essential Life Plan

SummaryEach client faces a unique financial challenge. This is why Discovery Life has a continuous focus on innovation and aims to provide a comprehensive solution to these challenges. Since Discovery Life’s inception in 2000, product improvements and new versions of benefits have been launched every year to meet clients’ changing needs and expectations.

We strongly recommend that you encourage your clients to upgrade their Discovery Life benefits to the latest versions. This reference guide highlights the differences between the various benefit versions to ensure that you provide the most appropriate Discovery Life risk cover to your clients.

For more information about the improvements made over time, you can refer to the applicable launch Discoverer. Discoverer publications can be found online on the Financial Adviser Zone at www.discovery.co.za. Please refer to the applicable Life Plan Guide for the terms and conditions of the benefit version.

http://www.discovery.co.za.

Essential PlanPurple Planand Classic Plan

2

Life cover

I II III IV V

Available November 2000 – November 2001 December 2001 – May 2004 June 2004 – July 2008 August 2008 – July 2011 August 2011 onwards

Rates review

Maximum AccessCover conversion rate

60% 60% 60% 60% 70%

Access to AccessCover Plus

Vitality Fund Purple Plan only

Legacy FundFrom May 2020 onwards

(Purple Plan only).

I II III

Available November 2001 – August 2015 September 2015 – April 2020 May 2020 onwards

Paid-up age 65Later of age 65 and 20 years

after benefit inceptionLater of age 65 and 20 years

after benefit inception

Maximum entry age 50 (Integrated clients) 60 60

Return of Paid-up premiums on death

Premium eligible for PayBack

Option to continue with benefit increases after Paid-up age

Ability to have the 200% Buy-up Cash Conversion benefit on the same policy

Buy-up Cash Conversion premiums included in Paid-up benefit

(50% and 100% options only)

Paid-up Benefit

3

Buy-Up Cash Conversion

I II III

Available October 2009 – August 2011 September 2011 – May 2015 June 2015 onwards

Options available 25%, 50%, 75%, 100% 25%, 50%, 75%, 100%Half, Base, Full (Half option removed

in September 2017)

Payment due date Age 65 Age 65 Four equal four-yearly payments from age 65

Premium calculation Influenced by ancillaries on policy Not influenced by ancillaries on policy Not influenced by ancillaries on policy

Premium eligible for PayBack

Premium expiry age Age 65 Age 65Age 77 (premium will halve after

each of the earlier payments)

Ancillary requirements for the various benefit levels (Only for the Full option from September 2017)

I – II III IV

Available November 2001 – August 2015 September 2015 – October 2018 November 2018 onwards

Annual contribution increases Specified fixed percentageSpecified percentage that varies with age

(2% – 5%)Specified percentage that varies with age

(1.25% – 6.375%)

Standard funding plan

4

Core Health/Vitality Integrator

II III

Available November 2006 – September 2016 October 2016 onwards

Vitality Rating discount

Vitality Rating Longevity discount Available May 2020 onwards

Effective Integrator discount can exceed upfront discount percentage

Discovery Retirement Optimiser

I II III

Available June 2005 – September 2007 October 2007 – October 2012 November 2012 onwards

Life Plan Optimiser(Five years) (10 years) (Whole of life)

Longevity Booster

Investment Performance Protector

Fee PayBack

Retirement Investment Integrator

Retirement PayBack Booster

Payments that reduce the Life FundLife Plan Optimiser, lump-sum withdrawal

at retirement, annuity income in retirementLife Plan Optimiser, lump-sum withdrawal

at retirement, annuity income in retirementLife Plan Optimiser only

Minimum contribution R350 R350 R500

5

Global Education Protector

I II III

Available November 2001 – March 2003 April 2003 – August 2017 September 2017 onwards

First of principal and spouse option

Severity B illnesses covered at 50%

Life Plan conversion option at benefit expiry

Triggers Death, disability and severe illnessDeath, disability and severe illness OR disability

and severe illness OR death onlyDeath, disability and severe illness OR disability

and severe illness OR death only

Parent maximum expiry age 65 65 85

Cover before primary school One year of pre-school One year of pre-schoolThree years of crèche and two years

of pre-school

Enhanced annual maximums(Private option)

Different benefit options (Core and Private: same features,

different levels of cover)

Enhanced cover for Ivy League colleges(Private option)

Allowance for other expensesUp to 40% of fees for university

residence and booksUp to 40% of fees for university residence

and booksAnnual Discretionary Lump Sum Benefit

and Rand cap for university residence

Bursary Cashback Benefit

Rewards for health and wellness management(PayBack) (PayBack) (University Funder Benefit)

Annual contribution increases Education inflation Education inflation + 5.1% (AcceleRater pattern) Education inflation + age-related factor + 1%

6

Overhead Expenses Benefit

I II III IV V

AvailableNovember 2000 –

October 2001November 2001 –

March 2003April 2003 –


February 2015March 2015 onwards

Can only be selected as a rider to the Income Continuation Benefit

Waiting period, in-claim escalation and expiry age

Same as Income Continuation Benefit




Selected independently

Maximum percentage of qualifying overhead expenses that can be insured

90% 90% 90% 90% 100%

Percentage of premium eligible for PayBack

100% 100% 100% 70% 70%

Automatic sickness underpin

Purple Plan and Classic Plan

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Income Continuation Benefit

I II III IV V VI VII


October 2001November 2001

– March 2003April 2003 – May 2011

June 2011 – October 2012

November 2012 – February 2015

March 2015 – November 2018

December 2018 onwards

100% upgrade on permanent disability (Upgrade capped

at 2.5x)(Upgrade capped



at 2.5x)

100% upgrade for one year for medical professionals suffering an HIV needlestick injury

Retrospective payments on seven-day waiting period

Annual benefit increase can be different to annual benefit increase selected for Life Fund

Expiry ages available 60, 65 60, 65 60, 65, 70 60, 65, 70 60, 65, 70 60, 65, 70, whole of life Whole-of-life only

Guaranteed Insurability Benefit (Comprehensive

option)(Comprehensive

option)(Comprehensive

option)(Core and

Comprehensive options)

Contribution Protector

Interest Rate Protector

Dynamic Spend Protector

Top-up* Income Continuation Benefit (rider benefit)

(Capped at 40% of gross income)

(Capped at 40% of gross income)

(Capped at 25% of net income)

(Capped at 25% of net income)

Remaining points are covered on the next page

* The renaming of the Temporary Income Continuation Benefit to the Top-up Income Continuation Benefit in December 2018 was applied retrospectively to all previous versions of the Temporary benefit.

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October 2001November 2001

– March 2003April 2003 – May 2011





Extender Benefit (available as a rider) (Extender features

part of Base product)(Extender features

part of Base product)

Family ProtectorPart of Extender

BenefitPart of Extender

Benefit (Comprehensive option)

Capital Disability underpin

Part of Extender Benefit


LifeTime Severe Illness Underpin



Injury and hospitalisation underpin



Upfront discount for professionals

Rates differentiation between smokers and non-smokers

Percentage of premium eligible for PayBack

100% 100% 100% 100% 70%70%

(100% on Smart Life Plans)

70% (100% on Smart Life

Plans)

Temporary disability claims reducing accumulated PayBack

(Extender features part of Base product)

Income definition Gross of tax Gross of tax Gross of tax Gross of tax Gross of tax Net of tax Net of tax

Continued... Income Continuation Benefit





March 2003April 2003 – May 2011





LifeTime Capital Disability Lump-sum Benefit

Retrenchment Protector

HealthyLiving Protector (Comprehensive option)

Transport Protector (Comprehensive option)

Spouse Income Continuation Benefit

Waiting periods7 day, 1 month,

3 months, 6 months, 12 months

7 day, 1 month, 3 months, 6 months,

12 months


12 months


12 months


12 months


12 months

7 day, 1 month, 3 months, 12 months

Performance Bonus Protector

Maternity Premium Waiver Benefit

Default Income Continuation Fund

Buy-up Income Continuation Fund


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I III V VII

Available June 2008 – October 2010 November 2010 – May 2015 June 2015 – April 2020 May 2020 onwards

Medical Contribution Funder

5% Default Cash Conversion

Maximum entry age60 (55 for Medical

Contribution Funder)65 (from March 2012) 65 65

Integrated cover adjustments Based on Vitality status only

(regardless of Integrator type)Based on Vitality status only

(regardless of Integrator type)

Based on Vitality status and health claims (depending

on Integrator type)

Based on Vitality status and health claims (depending

on Integrator type)

Cessation of integrated cover adjustments

65Later of age 65 and 10 years

after benefit inception (from March 2012)

Later of age 65 and 10 years after benefit inception

Later of age 65 and 10 years after benefit inception

Minimum Protected Cover level 20% of initial value 20% of initial value 40% of initial value 40% of initial value

Maximum additional integrated cover that may be earned

Growth of up to 30% of the Life Fund

(15% on 20% option)


(15% on 20% option)


(7.5% on 20% option)



Cover Integrator

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I III V VII IX XI

AvailableOctober 2009 –

August 2011September 2011 –

April 2013May 2013 – May 2015

June 2015 – September 2016

October 2016 – April 2020

May 2020 onwards

Upfront discount to normal rates

(10%) (5%)

Maximum entry age 55 65 (from March 2012) 65 65 65 65

Asset Protector

Debt Instalment Protector

Currency Protector

Discovery Card Interest Protector

Severe Illness Benefit Medical Booster

10% Default Cash Conversion

Five-yearly Cash Conversions (Starts 15 years

after benefit inception)(Based on age at entry)

Integrated cover adjustments

Based on Vitality status only (regardless of

Integrator type)


Integrator type)


Integrator type)

Based on Vitality status and health claims

(depending on Integrator type)





Financial Integrator


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I III V VII IX XI

AvailableOctober 2009 –

August 2011September 2011 –

April 2013May 2013 – May 2015



May 2020 onwards


65

Later of age 65 and 10 years after benefit

inception (from March 2012)


inception


inception


inception


inception

Minimum Protected Cover level

20% of initial value 20% of initial value 40% of initial value 40% of initial value 40% of initial value 40% of initial value

Maximum additional Integrated Cover that may be earned


(15% on 20% option)


(15% on 20% option)









Available with free CoverBooster cover

Access to Annual/Cumulating Guaranteed PayBack Benefit

Access to Vitality Memory

Available with Discovery Card Integrator

Continued... Financial Integrator

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I PayBack I PayBack II PayBack III PayBack IV* PayBack V

AvailableAugust 2002 –

April 2004May 2004 – May

2006June 2006 – April 2013

May 2013 – September 2016

October 2016 onwards


Maximum upfront Integrator discount for Core health plans

15% 15% 17.50% 17.50% 17.50% 17.50%


Vitality Rating Longevity discount

Available May 2020 onwards

Vitality Premium LevellerAvailable May 2020

onwards


Maximum Integrator premium adjustment

3.90% 3.90%3.75%

(from November 2012)3.75% 3.75% 3.75%

Maximum PayBack percentage

0% 50%60%

(from January 2008)60%

50% / 100% (with Double PayBack option)

50% / 100% (with Double PayBack Option)

Annual/Cumulating Guaranteed PayBack

(Cumulating Guaranteed

PayBacks no longer available from May 2020)

Double PayBack Option (from May 2020) (from May 2020)

Vitality Memory (removed in May 2020)

Comprehensive Health Integrator

* Policy doesn't meet the qualifying criteria for the Annual/Cumulating Guaranteed PayBack Benefit (for example, it does not have the correct version of the Financial Integrator).


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I PayBack I PayBack II PayBack III PayBack IV* PayBack V

AvailableAugust 2002 –

April 2004May 2004 – May

2006June 2006 – April 2013

May 2013 – September 2016



Maximum Annual/Cumulating Guaranteed PayBack percentage

0% 0% 0%40% (Annual) /

45% (Cumulating)0%

10% (Annual) / 15% (Cumulating)

(From December 2018 additional guarantees

through Discovery Card, Vitality Drive and Vitality Active are

no longer available) (Cumulating no longer available from May 2020)

Maximum Annual Guaranteed PayBack percentage with Double PayBack option

N/A N/A N/A N/A N/A20% (from May 2020

onwards)

Continued... Comprehensive Health Integrator

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I PayBack I PayBack II PayBack III* PayBack IV

Available August 2004 – May 2006 June 2006 – April 2013May 2013 –

September 2016October 2016 onwards October 2016 onwards

Maximum upfront Integrator discount

12.50% 17.5% 17.50% 17.5% 17.50%


Vitality Rating Longevity discount

Available May 2020 onwards

Vitality Premium Leveller Available May 2020 onwards


Maximum PayBack percentage

0% 25% 25%20% / 40% with

Double PayBack Option (from May 2020)

20% / 40% with the Double PayBack Option

(from May 2020)

Annual/Cumulating Guaranteed PayBack

(Cumulating Guaranteed

PayBacks no longer available May 2020)

Double PayBack Option

(from May 2020)

(from May 2020)

Vitality Memory

(removed in May 2020)

Comprehensive Vitality Integrator

* Policy doesn’t meet the qualifying criteria for the Annual/Cumulating Guaranteed PayBack Benefit (for example, it doesn’t have the correct version of the Financial Integrator).


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I PayBack I PayBack II PayBack III* PayBack IV

Available August 2004 – May 2006 June 2006 – April 2013May 2013 –

September 2016October 2016 onwards October 2016 onwards

Maximum Annual/Cumulating Guaranteed PayBack percentage

0% 0%23.75% (Annual) /

28.75% (Cumulating)0%

5% (Annual) / 10% (Cumulating)

(From December 2018 additional guarantees through Discovery Card, Vitality Drive

and Vitality Active are no longer available)

(Cumulating no longer available from May 2020)

Maximum Annual Guaranteed PayBack percentage with Double PayBack option

N/A N/A N/A N/A

10% Annual Guaranteed (from May 2020 onwards)

(Cumulating no longer available from May 2020)

Continued... Comprehensive Vitality Integrator

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I II III VI VIII (Purple only) X XII (Purple only)



May 2006June 2006 –

September 2016October 2016 –

May 2020October 2016 –

May 2020May 2020 onwards

May 2020 onwards

Comprehensive BenefitCovers severity A – E illnesses

Covers severity A-E illnesses






Comprehensive Plus Benefit







Individual Severe Illness Benefit

Extender Benefit

Enhanced Definitions

Intensive Care Benefit

Early Cancer Benefit

Cancer Relapse Benefit

Cancer Exome Sequencing Benefit

Automatic Child Benefit(Higher limits)

ParentCare

Global Treatment Benefit (Includes additional

70% travel allowance)

LifeTime Benefit option

Severe Illness Benefit

Note: The enhancements made in July 2002 and April 2003 were applied retrospectively to all benefit versions.


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* The enchancements made in July 2002 and April 2003 were applied retrospectively to all benefit versions.

Continued... Severe Illness Benefit

I II III VI VIII (Purple only) X XII (Purple only)



May 2006June 2006 –

September 2016October 2016 –

May 2020October 2016 –

May 2020May 2020 onwards

May 2020 onwards

LifeTime Maximums100%, 125%, 150%, 200% (no maximum

before May 2013)100%, 200% 100%, 200% 100%, 200% 100%, 200%

Standalone option (impairment Fund)

(Closed to new business in

September 2015)

Non-accelerated option

(From May 2010)

Parent Severe Illness Benefit

Multi-organ Benefit

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I II III IV VI VIII



March 2003April 2003 – May 2008

June 2008 – February 2012



Comprehensive BenefitCovers category

A, B and D disabilitiesCovers category

A, B and D disabilities

Core BenefitCovers category

A and D disabilitiesCovers category

A and D disabilitiesCovers category

A and D disabilitiesCovers category A and D

disabilities

Comprehensive Plus BenefitCovers category

A, B, C and D disabilitiesCovers category

A, B, C and D disabilitiesCovers category

A, B, C and D disabilitiesCovers category A, B, C,

and D disabilities

LifeTime Benefit option (New LifeTime 200 and 300 Benefit options)

MedTech Booster Benefit

Non-accelerated option

Dynamic Spend Protector

BenefitBooster

Automatic 50% (100%) payment after qualifying under Category C for 2 to 3 years

Automatic Category B disability upgrade to 100%

Guaranteed insurability for young professionals (From Nov 2006)

Automatic Child Impairment Benefit

Capital Disability Benefit

Essential Plan

II IV VI

Available May 2010 – May 2015 June 2015 – April 2020 May 2020 onwards

Integrated cover adjustmentsBased on Vitality status only

(regardless of Integrator type)Based on Vitality status and health claims

(depending on Integrator type)Based on Vitality status and health claims


Minimum Protected Cover level 20% of initial value 40% of initial value 40% of initial value


Growth of up to 30% of the Life Fund (15% on 20% option)

Growth of up to 15% of the Life Fund (7.5% on 20% option)

Growth of up to 15% of the Life Fund (7.5% on 20% option)

Cover Integrator

Financial Integrator

II IV VI VIII X XII

AvailableMay 2010 – August

2011September 2011 –

April 2013May 2013 – May 2015


October 2016 - April 2020

May 2020 onwards

Upfront discount to normal rates

Maximum entry age 55 65 (from March 2012) 65 65 65 65

Asset Protector

Debt Instalment Protector

Currency Protector

Discovery Card Interest Protector


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II IV VI VIII X XII

AvailableMay 2010 – August

2011September 2011 –

April 2013May 2013 – May 2015



May 2020 onwards

Severe Illness Benefit Medical Booster

Five-yearly Cash Conversions (Starts 15 years after

benefit inception)(Based on age at entry)

Integrated cover adjustments


Integrator type)


Integrator type)


Integrator type)

Based on Vitality status and

health claims (depending on Integrator type)






65


inception (from March 2012)


inception


inception


inception


inception

Minimum Protected Cover level

20% of initial value 20% of initial value 40% of initial value 40% of initial value 40% of initial value 40% of initial value



(15% on 20% option)


(15% on 20% option)









Available with free CoverBooster cover

Available with Discovery Card Integrator

Continued... Financial Integrator

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III IV

Available May 2010 – September 2016 October 2016 onwards


Vitality Rating Longevity discount Available May 2020 onwards


Comprehensive Health/Vitality Integrator

IV VII XI

Available May 2010 – September 2016 October 2016 – April 2020 May 2020 onwards

Individual Severe Illness Benefits

Extender Benefit

Enhanced definitions

Intensive Care Benefit

Early Cancer Benefit

(Comprehensive Plus and LifeTime Plus option only)

(Comprehensive Plus and LifeTime Plus options only)

LifeTime Maximums100%, 125%, 150%, 200% (no maximum prior

to May 2013)100%, 200% 100%, 200%

Standalone option (Impairment Fund)(Closed to new business in September 2015)

Parent Severe Illness Benefit

Multi-organ Benefit

Severe Illness Benefit

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V VII IX

Available May 2010 – February 2012 March 2012 – November 2018 December 2018 onwards

BenefitBooster

Capital Disability Benefit

VII


1.33x upgrade on permanent disability(capped at 100% of net income)

100% upgrade for one-year medical professionals suffering an HIV needlestick injury

Retrospective payments on seven-day waiting period

Annual benefit increase can be different to annual benefit increase selected for Life Fund

Expiry ages available Whole-of-life only

Guaranteed Insurability Benefit

Contribution Protector

Top-up Income Continuation Benefit(capped at 100% of net income)

Family Protector

Capital Disability Underpin

LifeTime Severe Illness Underpin

Income Continuation Benefit


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VII


Injury and hospitalisation underpin

Upfront discount for professionals

Rates differentiation between smokers and non-smokers

Income definition Net of tax

Spouse Income Continuation Benefit

Waiting periods 7 day, 1 month, 3 month, 12 months


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The information contained in this document is for internal illustrative and training purposes only and is not to be construed as advice by Discovery Life Limited. The information has been obtained from sources which are believed to be reliable, relevant and accurate. Whilst all reasonable care has been taken before opinions, views and commentary are given, no representation, warranty or undertaking (express or implied) is given and Discovery Life, its employees and authorised third parties do not accept any responsibility for the accuracy of the information or for any loss or damage (whether directly or indirectly) that may result from any reliance on or use of this document. Any recommendations made to a client must adhere to the applicable provisions as framed in the Financial Advisory and Intermediary Services Act (FAIS) General Code of Conduct for Authorised Financial Services Providers and Representatives. Discovery Life Limited. Registration number 1966/003901/06, is a registered long-term insurer, and an authorised financial services and registered credit provider, NCR Reg No. NCRCP3555. Product rules, terms and conditions apply.

RCK_85727DL_09/12/2021_V1

Discovery_SAwww.discovery.co.za @Discovery_SA youtube/DiscoverySAdiscoverylifeSA

Discovery Life

Contact centre 0860 00 54 33 | [email protected] | www.discovery.co.za

BENEFIT VERSION REFERENCE GUIDE

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