|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‚Äôs 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‚Äôs 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 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 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; ‚ÄúWe 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‚Äôs shared-value insurance model in this market.‚ÄĚ
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, ‚ÄúDiscovery‚Äôs 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.‚ÄĚ
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; ‚ÄúThe 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.‚ÄĚ 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‚Äôs 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
(Taken from the Discovery “eDiscoverer”, dated 18/07/2014):
South African children score a ‚ÄúD‚ÄĚ in the 2014 Healthy Active Kids Report
Results of the 2014 Healthy Active Kids Report, which checks the state of South African children‚Äôs health, became available recently.
This third report builds on the reports from 2010 and 2007 to see if children‚Äôs physical activity, weight and nutrition improved. Overall South Africa slid from a grade of ‚ÄúC-‚Äú in 2010 to a ‚ÄúD‚ÄĚ in¬†2014.
Is this a big deal?
Concerning trends in inactivity, overweight and obesity have all increased in urban youth. This mirrors global trends of physical inactivity having a 35% prevalence, and obesity and being overweight in teenage boys doubling in six years. These trends also led to the shocking prediction that some children born from 2000 might, for the first time in generations, have a shorter life expectancy than their parents. Acting now, can improve the outlook.
Check out some of the results
The latest review studied available research on children‚Äôs health habits, including how much they play, how much fast food they eat, how much TV they watch. The research even looked at the support they get for healthy choices at home and school. Here are some of the findings around physical activity and¬†nutrition:
- At least half of South African children are not active enough: only active for less than an hour a day. This gave them a ‚ÄúD‚ÄĚ grade for physical activity.
- Less than half of urban children take part in organised sport or recreation. This gave a ‚ÄúC‚ÄĚ grade.
- Most children watch TV almost three hours a day; more over weekends. We scored an ‚ÄúF‚ÄĚ grade for sedentary behaviours.
- Childhood obesity continues to grow and sugary drinks are a major contributor of this. South Africans drank three times the global average in 2012. The previous ‚ÄúC-‚Äú grade dropped to a ‚ÄúD‚ÄĚ.
- More than two thirds of youngsters eat fast food at least three times a week, giving an ‚ÄúF-‚Äú.
- Only half our children eat enough fruit and vegetables, giving a ‚ÄúC-‚Äúgrade.
- Less than half of children meet the recommended salt intake of 5g a day. We scored a ‚ÄúD‚ÄĚ.
- Regulations on food advertising to children scored an ‚ÄúF-‚Äú. Therefore this needs work.
Find out more
Discovery Vitality “Health Active Kids Report Book 2014¬†(pdf of the book report)
Visit www.vitalityschools.co.za for more insights into our children‚Äôs health status.
The Medical Schemes Act (131 of 1998) allows employer groups to switch between medical schemes on 1 January each year, without any waiting periods.
Please note however, that Late- Joiner Penalties may still apply.
Take note of the following:
- There must be two or more principal lives in the employer group.
- All new members must be employees or pensioners of the same company.
The company and all members joining must currently belong to a registered South African medical scheme.
There must not be a break in membership when members transfer from their current medical scheme to the new scheme.
All covered individuals must agree to transfer their membership to¬†the new scheme¬†on 1 January 2015.
If your company is wanting to transfer to a new scheme, make sure to discuss this at your next meeting… most schemes will require documentation prior to the end of Sept, indicating this intention.
Better yet, if you want help with this process, you are welcome to contact me.
You will need to change your intermediary to our brokerage for us to help you obviously.
Remember it pays to have Cover!
Just received the CM Script from the Council for Medical Schemes… if you are a medical scheme member this is of use to you.
Or, if you simply are interested in HIV… this article will also be of interest.
If you are a financial advisor looking for a good home, you are welcome to email me on : firstname.lastname@example.org.
Our company is recruiting and I will be able to put you in touch with the recruiters.
Altrisk the life company, have launched a special offer available to smokers.
In a nutshell, offering discounted rates to smokers for life policies on the assumption that they will give up smoking within two years to retain the discounted rates.
There will be more on this offer in the blog… this is simply a teaser for smokers that want to give up, are reasonably healthy and want to take advantage of discounted rates NOW.
Remember, it Pays to have Cover!
Every year the Financial Intermediaries Association conducts a survey to decide on who the winners for the year in the 4 core disciplines are.
This year, nine FIA Awards were issued to cover the four ‚Äėcore‚Äô disciplines in the financial advice space, namely employee benefits, financial planning (including risk and investment advice), healthcare and short-term insurance.
These are your winners:
Short- Term Insurer of the Year –¬†Personal Lines: Hollard
Short- Term Insurer of the Year – Commercial: Santam
Short- Term insurer of the Year- Corporate: Santam
Underwriting Manager of the Year: CIA
Long- Term Insurer of the Year – Risk: Discovery
Product Supplier of the Year- Investment Products Single Premium: Allan Gray
Product Supplier of the Year- Investment Products Recurring Premium: Liberty
Product Supplier of the Year- Employee Benefits: Sanlam
Product Supplier of the Year- Healthcare: Discovery
All the best to them.
Remember, it Pays to have Cover!
I thought that some of you might find this interesting.
A medical scheme cannot refuse your application on the basis that you had previously been terminated due to non- disclosure.
I have attached the full circular from the Council for Medical Schemes here Circular26Of2014 termination non disclosure reapply
The background to this is that medical schemes are required to follow the principle of open enrolment.
Within the safeguards (of their risk pool) the schemes have provisions that they can apply to protect themselves against adverse selection by members. They can apply waiting periods and late joiner penalties (as per rules).
Members (prospective members) are required to disclose any conditions for which they have received a diagnosis, treatment or care within a 12 month period preceding the application, to enable the scheme to perform a proper risk assessment.
The schemes have the right to cancel a membership on the grounds of non- disclosure of material information.
Should the member fail to disclose material information: some schemes will be lenient (to member) and impose a waiting period on the membership as if the member had disclosed the condition/s. Other schemes will terminate the membership (as if the agreement was null and void- from inception). Therefore, they would expect reimbursement for any claims paid and the member could be reimbursed contributions paid.
The Council is warning that some schemes are refusing to allow members that have been terminated due to non disclosure the right to reapply to the scheme… this is against the principles of open enrolment and the Council has therefore issued this warning.
You can read the full¬†circular in the link given above.
Hope this helps if you have been in this position.
Remember it Pays to have Cover!