Income Protection Cover from Discovery Life
September 8, 2016
No income amounts to no way to provide for your family. Indeed, having a job is a privilege, but even if you do have one, you can’t foolishly believe you’ll always keep it. An injury or illness can strike you down in an instant and leave you without an income. And this is precisely why income protection cover from Discovery Life is gaining so much interest. People are beginning to realise that they need to provide for such an event as no-one is immune from calamity. Essentially, with income protection cover you can at least expect some form of monthly income.
What Is Income Protection Cover?
If the primary breadwinner should lose his or her job, where will the money come from to pay the mortgage? We know that we’re supposed to have an emergency fund for such event, but few of us do. Income insurance is necessary to protect your family. And all the more so if your employer doesn’t have an occupational sick pay scheme.
- Income protection insurance
- Life insurance
- Critical illness cover
- Payment protection insurance
Income protection provides a regular replacement income, and Discovery Life offers this. Their Income Continuation Benefit offers some unique features:
- 100% payout on temporary disability – insure up to 75% of your income and top up your payments with the Temporary Income Continuation Benefit by 25%.
- 100% payout on permanent disability – if permanently disabled you may qualify for an upgrade to 100% of your net-of-tax income.
- Additional payouts – if you are permanently disabled, you could qualify for an additional lump-sum payment of up to 36x your monthly Income Continuation Benefit insured amount.
More Great Benefits
Discovery Life’s Income Continuation Benefit insures 100% of your net income. It also looks out for your lifestyle with some amazing benefits:
- Retrenchment Protector – retrenchment spells tough economic times. But with retrenchment and Discovery, you have cover for up to 100% of your Discovery contributions for up to 6 months.
- HealthyLiving Protector – if you shop at Dischem, Totalsports, Pick n Pay, Woolworths, Clicks or Sportsmans Warehouse or Totalsports the HealthyLiving Protector Benefit will cover up to 100% of your average spend each month if you become permanently disabled.
- Transport Protector – many people drive vehicles for a living even. Injury or illness could lose you your job or your independence. You get access to Uber services to the value of R5 000 per claim.
- Family Protector – this benefit will pay 100% of your Income and Temporary Income Continuation Benefit monthly premium for as long as 6 months if your child or your spouse has a severe illness. Also, it will pay 100% of your Income- as well as your Temporary Income Continuation Benefit amount for one month if your spouse dies.
Nothing in this life is guaranteed. You don’t know what tomorrow will bring. So act now. Speak to a financial adviser at Discovery about the way to go to protect your income. Because it gives such peace of mind to have insurance that gives you cover for the loss of income due to disability. Make a point of calling Discovery today and get the assurance you need.
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All info was correct at time of publishing