During 2019, Discovery Life paid out R4.8 billion to policyholders, including a total of R1.2 billion through the PayBack benefit. In addition, Cash Conversions to the value of R2.8 billion are expected to mature over the course of the next 5 years. Breakdown per benefit: • R2.28bn in life cover • R1.1bn Severe Illness Benefit • R816m Disability benefit • R375m income Continuation Benefit
In line with National Savings Month, Discovery Bank will postpone implementing the interest rate reduction announced yesterday and will keep the interest rates on all its savings accounts as is for the next 14 days. The interest that Discovery Bank charges its clients on their borrowings will, however, be reduced with effect from July 24 2020.
Discovery Invest launched a greatly-enhanced global investment solution that uses shared value to create the world’s first exchange rate enhancer, and offers investment choices advised by BlackRock and Goldman Sachs, world leaders in asset management.
Discovery recognised as the recipient of the Gold Global Innovator Award at the 2020 Efma-Accenture Innovation in Insurance Awards, a virtual ceremony showcasing the best examples of insurance innovations across the globe.
Discovery Insure CEO, Anton Ossip, announced enhancements to Discovery Business Insurance’s offering, including a partnership with MTN to give businesses up to 50% back on their monthly data costs, capital support for the retail sector in partnership with Merchant Capital, as well as the Dynamic Distance Cash Back to reward people for driving less during the COVID-19 pandemic.
Discovery Insure's warranty product covers a comprehensive list of critical components, with no limits. This product encourages good driving with premiums based on a driver’s specific driving profile, as well as the unique circumstances of the vehicle compared to a market where premiums tend to be undifferentiated irrespective of how good a driver you are.
Discovery has created an affordable way for employers to secure basic private healthcare services for their employees, including support for COVID-19. This is available through Primary Care for Household Employees, which gives household employees and their dependants access to primary private healthcare benefits from R249 per month.
Discovery announces enhancements that respond specifically to insurance needs around COVID-19. These include a new multi-organ feature within the Severe Illness Benefit to provide relevant cover for the complications associated with COVID-19, a dynamic cash back that rewards Discovery Insure clients for driving fewer kilometres and Vitality Health Check tailored for people aged 65 years and older.
Discovery presents insights on the financial impact of COVID-19 on medical schemes in South Africa, and a COVID-19 Resilience Index outlining the relative risk of being hospitalised due to COVID-19.
Online healthy cooking classes, digital meditation sessions and virtual runs in the Kruger. Why not? It could reduce Covid-19 severity.
• Discovery Bank is working hard to take care of clients during this difficult time • Discovery Bank is making eating healthy more affordable than ever • Clients get up to 100% back on healthy groceries at Woolworths or Pick n Pay • Clients get up to 75% back on personal care products at Clicks and Dis‑Chem
In alignment with the example set by the President and his Executive last week, the Discovery Board Chair, Chief Executive and the Discovery Board in its entirety (including both Executive and Non-Executive Directors) will donate a third of their salaries and fees over the next three months to efforts to fight the pandemic.
