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Kenny

(Posted 2009)

Dear All,

Please remember to subscribe to this blog, to do so use the subscribe button on the left hand side.

I will keep it up to date with the latest information regards products (5 life companies/investment companies, 3 International health insurers,2 medical aid companies).

This ensures that you can see if there is something new on the go,generally before the advertisements start.

All that happens is that an email is sent to say that there is an update…giving the summary…so you don’t need to keep coming in to the blog. You decide if it is a subject that interests you.

i believe that education is the key , especially in these trying economic times.

Have a good day!

and remember It pays to have cover!

IHI – changes for 2009

Update Aug 2015:

I am leaving this post for historical interest.

 

(Previous posting Feb 2009)

IHI for 2009

Changes to the International Health and Hospital Plan with IHI Danmark have centred around changes to the policy conditions and the wording therein.

They have also brought out their new rates for 2009, which will take effect from January 2009.

Worldwide Travel Options

IHI have released an update to their travel health product. They have renamed it to Worldwide Travel Options and introduced new non- medical  benefits and trip cancellation options.

You now have the option of taking Basic Cover (the travel health insurance) and the new non-medical and trip cancellation options as add- on’s to the Basic Cover.

FIA Award Winners for 2015.

The results of the Financial Intermediaries Association’s (FIA) award winners are out.

Long Term Insurer of the year- Risk Product: Discovery Life.

Product supplier of the year- Investment Products- recurring premium: Sanlam

Product Supplier of the Year- Investment Products- single premium- Allan Gray

Short Term Insurer of the Year- Personal Lines- Santam.

Short Term Insurer of the Year- Commercial- Hollard.

Short Term Insurer of the Year- Corporate- Hollard.

Underwriting Manager of the Year- CIA.

Product Supplier of the Year- Employee Benefits- Sanlam.

Product Supplier of the Year- Healthcare- Bestmed.

Dollar Discovery Retirement Optimiser

Retire in hard currency with the Dollar Discovery Retirement Optimiser

On 17 March 2015 Discovery Invest announced their new globally-focused retirement product, the Dollar Discovery Retirement Optimiser, which aims at building up a retirement nest egg in hard currency.

This innovative investment product is built on the back of Discovery Life’s Dollar Life Plan. It allows for your clients to save offshore on a recurring monthly basis. The Dollar Discovery Retirement Optimiser converts a client’s unused Dollar Life Plan cover into retirement income in US dollars from age 65 onwards, boosting retirement savings in hard currency.

With the Dollar Life Plan, Discovery Life introduced the first-of-its-kind global insurance product that is designed to match your client’s offshore liabilities. This could include the associated costs of education of children or dependants living overseas.

Now, with the launch of the Dollar Discovery Retirement Optimiser, clients have access to a product that focuses on maximising a client’s retirement savings through fee discounts and boosted fund values in hard currency.

The US currency-linked product achieves this through two unique benefits: the Dollar Retirement Investment Integrator and the Dollar Life Plan Optimiser.

The Dollar Retirement Investment Integrator provides discounts on all fees until the age of 65. These discounts start at 20% and increase in line with contribution size up to 80%. The Dollar Life Plan Optimiser also boosts your client’s income from age 65 by providing tax-free instalments every year over ten years with increases at the US inflation rate each year. These payments are created through converting unneeded risk cover from the client’s Dollar Life Plan into cash.

The product offers three risk-profiled Dollar-denominated funds that are built from Exchange Traded Funds (ETFs). These are dynamically managed on an ongoing basis to maintain the correct risk profile.

The Dollar Discovery Retirement Optimiser is structured as an offshore endowment policy. Contributions are not tax deductible but no further tax is payable by clients on proceeds from the offshore endowment policy under current tax practice.

Contributions are denominated is US Dollars but deducted from your client’s bank account in South African Rands in line with the rand-dollar exchange rate. The product is designed to use your client’s single discretionary allowance, which is facilitated by Discovery so there is no need to apply for a tax clearance certificate in most cases.

(excerpt taken from eDiscoverer of the 20/03/2015)

EyeGym- definitely worth a try!

Taken from Discovery e Discoverer- remember you have access to the eyegym on discoveryworld as an insure client
– What JP Duminy has to say below:

Regular EyeGym user, JP Duminy, boosts his performance with regular work outs in the EyeGym. He’s currently part of the South African squad at this year’s Cricket World Cup.
“EyeGym is an exceptional, unique eye training system, which has helped me tremendously in various facets of my game. It has definitely increased my concentration, focus and timing. I can “see” the difference,” he said.
Fit eyes lead to better decision making, especially in emergencies. All Vitalitydrive clients can access EyeGym, a unique, cutting-edge visual training software program that will improve their visual awareness, visual performance, processing skills and their driving.
Clients can earn up to 150 DQ Points each month for 12 months by completing the Primary and Advanced EyeGym courses. When they register for EyeGym training, they will have immediate access to the Primary EyeGym course on www.discovery.co.za at no cost and earn 50 DQ Points for 12 months when they complete it. After that, they can complete the Advanced course at a discounted rate and earn a further 100 DQ Points for 12 months.
Dr Sherylle Calder of EyeGym is a world-renowned visual skills and performance specialist. She has helped many other athletes and leading international sporting teams, including the Springbok rugby team and Ernie Els, improve their peripheral vision, hand-eye coordination, reaction times and awareness.

Discovery Insure Smartphone- enabled DQ Track – find where your vehicle is!

I really like this… keep track of your vehicle… you have it for your phone- why not for your car?

SmartTip: Find my vehicles

Vitalitydrive clients with a smartphone-enabled DQ-Track now enjoy another safety feature in the form of “Find my vehicles”.

All Planholders will be able to view the location of all the vehicles (fitted with a smartphone-enabled DQ-Track) covered on their Plan, on their smartphones. Other primary drivers covered on the Plan will be able to view the location of their own vehicle on their smartphones.

How this feature works

Smartphone-enabled DQ-Track users simply need to open the Discovery Insure app on their smartphone and select the “Find my vehicles” option. The app will show the last location where the tag and smartphone were connected.

If another driver is driving a vehicle covered on the Plan, and the driver’s smartphone is connected to the tag, the Planholder can click on the vehicle to track it in real time. The app will begin to locate the vehicle and update the position every two minutes. The Planholder can also view the trips at a later stage under “View my trips”.

Vitality points awarded for driving well. You should have Vitality Drive and Vitality.

Update Aug 2015:

I have been seeing these points come through on clients Vitality… makes sense… if you drive well you are in a better state of “wellness”.

(Original post Jan 2015)

I just received the following: Would be of interest to those who are on Vitality and Vitality Drive (have Discovery Insurance).

 

“Dear Financial Adviser

As of 1 January 2015, Vitalitydrive clients who drive well, and are also members of Vitality, can earn up to 6 000 Vitality points each year.

Clients who achieve a driver performance score (DPS) of 450 DQ Points or higher in a month will earn 500 Vitality points for that month. The Vitality points will be awarded in the first week of the month following the month of good driving.

How we calculate the DPS

A client’s DPS is calculated by measuring their acceleration, braking, cornering, speeding, distance driven, night-time driving, and cellphone use (if smartphone-enabled DQ-Track is installed). Vitalitydrive clients with a smartphone-enabled DQ-Track can earn a maximum DPS of 850 DQ Points per month, and clients with a standalone DQ-Track can earn a maximum of 750 DQ Points per month.

Only the client’s DPS is considered when awarding the Vitality points; other DQ Points-earning activities will not count.

More information available online

For more information on Vitality points and Vitalitydrive DQ Points, go to www.discovery.co.za.”

 

 

Discovery Insure clients can fill up at Shell Ultra Cities this holiday and receive fuel rewards

Discovery Insure has made it even easier for clients to get rewarded for good driving. From this week, clients will be able to swipe their Vitalitydrive cards at Shell Ultra Cities countrywide and earn fuel rewards.

These are the Shell Ultra Cities that you can use. 

Shell Ultra City Location
Ultra City Breede Valley N1 NATIONAL ROAD, COLESBERG, 9795
Ultra City Colesberg N1 NATIONAL ROAD, COLESBERG, 9795
Ultra City Estcourt North N3 NATIONAL ROAD, ESTCOURT NORTH BOUND, 3310
Ultra City Estcourt South N3 NATIONAL ROAD, ESTCOURT SOUTH BOUND, 3310
Ultra City False Bay N2 NATIONAL ROAD, MACASSAR CAPE TOWN, 7134
Ultra City Kei Bridge N2 OLD TRANSKEI BORDER POST, KEI BRIDGE, 4950
Ultra City Kimberley N12 NATIONAL ROAD, NORTH OF KIMBERLEY, 8301
Ultra City Klerksdorp N12 NATIONAL ROAD, JOE SLOVO ROAD, KLERKSDORP, 2570
Ultra City Kroonstad N1 NATIONAL ROAD, NORTH EASTERN BYPASS, KROONSTAD, 9499
Ultra City Laingsburg N1 NATIONAL ROAD, VOORTREKKER STREET, LAINGSBURG, 6900
Ultra City Mvoti North Bound N2 NATIONAL ROAD, ADJ TO MVOTI TOLL PLAZA NORTH BOUND, STANGER, 4449
Ultra City Mvoti South Bound N2 NATIONAL ROAD, ADJ TO MVOTI TOLL PLAZA SOUTH BOUND, STANGER, 4449
Ultra City Pietersburg/Polokwane North N1 NATIONAL ROAD NORTH BOUND, POLOKWANE, 0700
Ultra City Pietersburg/Polokwane South N1 NATIONAL ROAD SOUTH BOUND, POLOKWANE, 0699
Ultra City Pitstop N1 NATIONAL ROAD, CNR EUFEES RD & WESTERN, BLOEMFONTEIN, 9301
Ultra City Plettenberg Bay N2 NATIONAL ROAD, MARINE WAY, PLETTENBERG BAY, 6600
Ultra City Queenstown N6 NATIONAL ROAD, CATHCART ROAD, QUEENSTOWN, 5319
Ultra City Riviersonderend N2 NATIONAL ROAD, 33 MAIN ROAD, RIVIERSONDEREND, 7250
Ultra City South Coast North Bound N2 NATIONAL ROAD, NORTH BOUND, UMGABABA, 4126
Ultra City South Coast South Bound N2 NATIONAL ROAD, SOUTH BOUND, UMGABABA, 4126
Ultra City Three Sisters N1 NATIONAL ROAD, BEAUFORT WEST, 6970
Ultra City Umtata N2 NATIONAL ROAD, NELSON MANDELA DRIVE, MTHATHA, 5100
Ultra City Golden City N1 NATIONAL ROAD, HALFWAY HOUSE MIDRAND, SOUTH BOUND, 1685
Ultra City Jacaranda N1 NATIONAL ROAD, HALFWAY HOUSE MIDRAND, NORTH BOUND, 1685
Ultra City Montrose N3 NATIONAL ROAD, STREETHAM HILL, SWINBURNE
Ultra City Limpopo N1 NATIONAL ROAD, BEIT BRIDGE, MESSINA, 0900
Ultra City Harrismith N3 NATIONAL ROAD, NORTH BOUND, HARRISMITH, 9880
Ultra City M2 M2 EAST NATIONAL ROAD, JOHANNESBURG, 2001
Ultra City Middelburg East N4 NATIONAL ROAD, EASTBOUND TO MIDDELBURG
Ultra City Middelburg West N4 NATIONAL ROAD WESTBOUND TO WITBANK/JOHANNESBURG/PRETORIA

(Taken from Consultant news 02/12/2014)

Remember, it Pays to have Cover!

 

Discovery expanding its’ branding and presence in the UK.

Discovery acquires full ownership of its UK joint venture, rebrands UK businesses (Continued)

On 10 November 2014, Discovery announced an important strategic change in its business with its acquisition of the remaining 25% stake in Prudential Health Holdings Limited, the holding company of PruHealth and PruProtect in the UK.

Group Chief Executive, Adrian Gore, said; “We are tremendously excited about this major strategic milestone for Discovery. Taking full ownership of our UK operations signals the significance of the UK market to Discovery and is key to our strategy to replicate Discovery’s shared-value insurance model in this market.”

Discovery will now own 100% of the UK operations, valued at £620 million. Initially established as an equally-owned venture between Discovery and Prudential in the private medical insurance market in 2004, it subsequently expanded to offer long-term protection products. It underwent a shareholding change in 2010 when Discovery increased its shareholding to 75% with the acquisition of Standard Life Healthcare. Today, the life and health insurance businesses cover over 800 000 lives, at number four and three market positions respectively for the health and life arms, and attracting annual premiums of approximately £480 million and annualised new business in excess of £110 million.

Gore continued, “Discovery’s increased investment in the UK has always been part of our longer-term strategy. It will afford us the opportunity to realise our vision to further entrench our insurance model and to be recognised as the best protection provider in the UK. Being highly receptive to the needs of our clients, and highly engaged with them, means that we are well placed to achieve our goal of substantially improving the health of consumers in the UK. In my view, we are well on track to move insurance as a low-interest product category to one that is aspirational.”

Strategically, the UK market presents significant opportunity: the UK protection market is the third largest globally and the combination of high levels of underinsurance and low retention rates among insurers, provide an optimal platform for Discovery to replicate its shared-value insurance model.

Gore commented; “The UK environment is right for us. Our goal is to create a unique protection business that is responsive to global trends and that creates unique value for members and society.” With the ownership change and the ongoing elevation of the Vitality brand over the last few years, the PruHealth and PruProtect businesses will be rebranded under a single insurance brand: Vitality, with two insurance lines offered, VitalityHealth and VitalityLife.

The rebranding reflects the brand equity that has been developed in the Vitality brand as well as the significance of Vitality as a mechanism to deliver Discovery’s shared-value insurance model.

Financially, the joint venture is targeting £1 billion of earned premiums and £200 million of new business over the next five years.

Extracted from the “eDiscoverer” dated