BUSINESSOWNER-COVER

Discovery launch Discovery Insurance.

Kenny Williamson — 2011-05-19T15:06:00Z

Good day All,

It has been a while since i have added an entry to this blog.

There have been quite a few comments and spam, however, i thought it pertinent to add one now.

Discovery have entered the short term market, with a personal lines (household insurance and motor insura ce ) offering.

Needless to say, they have compeletely re-thought the insurance market, offering and claim process.

And launched a very interesting product.

Look forward to seeing more advertising from them and no doubt we can expect many, many enquiries.

I look forward to chatting with you all again in a short space of time.

Thank you for all the comments.
Kenny

Discovery Equity fund is ranked no. 1!

Kenny Williamson — 2010-11-22T19:55:00Z

Dear All,

Second post of the evening.

I thought that i had best share this with you!

Taken from the EDiscoverer dated Thursday 18/11/2010.

Discovery Equity Fund first in its sector

The Discovery Equity Fund was ranked first in its sector over the three-year period since its inception.

The fund outperformed its stated benchmark by 22.35% over the three-year period. The fund was competing with 72 other funds for the top performer and came out on top.

If a client had R100 000 invested in the Discovery Equity Fund when it was launched, they would have grown their investment to R135 126. This performance is staggering considering the three-year period included one of the largest market crashes in history.

Table of three-year performance:

Fund name	Rank	Return
Discovery Equity	1	35.13%
ABSA Select Equity	2	33.53%
Marriott Dividend Growth R	3	32.95%
Aylett Equity A3	4	28.20%
Coronation Equity R	5	22.42%
Kagiso Equity Alpha	6	19.67%
Foord Equity R	7	18.91%
Capstone Active Equity FoF	8	18.57%
Old Mutual RAFI 40 Tracker A	9	17.82%
Prudential Equity A	10	17.33%
Allan Gray Equity A	11	17.32%
Nedgroup Inv Rainmaker A	12	16.92%
ABSA General R	13	16.38%
Nedgroup Inv Quants Core Eq A	14	14.45%
SIM General Equity R	15	14.37%
SIM Top Choice Equity A1	16	13.96%
Investec Active Quants A	17	13.46%
Element Earth Equity A	18	12.95%
Prescient Eqty Active Quant A1	19	12.87%
Metropolitan Multi-Manager Equity	20	12.52%
STANLIB Index R	21	12.52%
Plexus RAFI® Enhanced SA Strategy A	22	12.13%
Old Mutual Growth R	23	12.02%
Old Mutual Top Companies R	24	11.93%
Old Mutual Investors R	25	11.22%
STANLIB MM All Stars Eq FoF A	26	11.01%
FNB Growth	27	10.93%
Coris Capital General Equity	28	10.85%
Element Islamic Equity A	29	10.51%
Old Mutual Active Quant Equity A	30	10.27%
Prescient Eqty Quant A1	31	10.22%
Analytics Managed Equity A	32	10.03%
Gryphon All Share Tracker	33	9.90%
Oasis General Equity	34	9.48%
MI-PLAN IP Beta Equity B2	35	9.35%
Community Growth Equity	36	8.08%
Old Mutual High Yield Opp A	37	8.08%
PSG Konsult Creator FoF A	38	7.72%
RMB Equity R	39	7.33%
Sasfin Equity	40	6.93%
SYmmETRY Equity FoF A	41	6.30%
Inv Solutions MM Equity A	42	6.21%
PSG Equity A	43	5.77%
Nedgroup Inv Equity R	44	5.27%
SMMI Equity FoF A	45	5.23%
Metropolitan General Equity	46	5.16%
BJM Core Equity B1	47	5.02%
STANLIB MM Equity A1	48	4.84%
Momentum MultiFocus FoF	49	4.57%
Huysamer Equity A1	50	4.56%
Momentum Mod Equity FoF B1	51	4.56%
Hermes Equity A	52	4.54%
FG Mercury Equity FoF A1	53	3.52%
Harvard House General Equity	54	3.24%
Lion of Africa General Equity	55	2.00%
Momentum Aggressive Equity FoF B1	56	1.91%
Maestro Equity A	57	1.42%
Valugro General Equity	58	1.13%
Investec Equity R	59	0.43%
Cannon Equity A	60	0.21%
Oasis Crescent Equity	61	-0.32%
Indequity Technical	62	-0.98%
PSG Alphen Equity FoF A	63	-1.82%
Stewart Macro Equity FoF A	64	-3.68%
Interneuron Equity	65	-4.85%
ABSA Growth FoF	66	-7.28%
STANLIB Shari'ah Equity A	67	-9.88%
STANLIB Equity R	68	-12.04%
Sasfin Twenty Ten	69	-13.95%
Futuregrowth Albaraka Equity	70	-15.08%
Tri-Linear Equity	71	-15.29%
STANLIB SA Equity R	72	-15.76%
STANLIB Nationbuilder A	73	-33.85%

*source Morningstar

Your Discovery clients have experienced even greater benefits than this

As and When Investment Integrator

For Discovery clients who had a LIFE PLAN over the period and had chosen the Discovery Equity Fund in an Endowment Plan, their returns would have been boosted even further through the Investment Integrator.

Through the refunds of fees, the three year performance figure is 42.05% - almost 9% more than the next best fund available!

Discovery Escalator – Discovery Equity Fund

The Escalator Fund based on the Discovery Equity Fund returned 26.46% since its inception on 15 November 2007. This fund has a guaranteed price per unit of R101.17. This implies that investors who bought units on the launch date of the fund would already have guaranteed the capital value of each unit. This is exceptional considering 12 of the funds in the General Equity Sector did not provide a return of capital over same period.

FAIS notice and disclaimer:

Collective Investment Schemes in Securities (CIS) are generally medium to long term investments. The value of participatory interests may go down as well as up and past performance is not necessarily a guide to the future. CIS are traded at ruling prices and can engage in borrowing and scrip lending. A schedule of fees and charges and maximum commissions is available on request from the Discovery Life Collective Investment (Pty) Ltd. Commission and incentives may be paid and if so, would be included in the overall costs. The above portfolio performance is calculated on a NAV to NAV basis and does not take any initial fees or taxes into account. Income is reinvested. Actual investment performance will differ based on the initial fees applicable, the actual investment date and the date of reinvestment of income. Past performance is not necessarily an indication of future performance. Figures quoted are from Morningstar, for the period ending 5 November 2010 for a lump, using NAV-NAV prices, with income distributions reinvested. Discovery Life Collective Investment (Pty) Ltd is a member of ASISA. The Escalator funds are non CIS Funds and are therefore not governed by the Collective Investment Schemes Control Act.

Regards
Kenny

Remember...it Pays to have Cover!

Confirmation of amalgamation of Clicks group medical schemes and Moremed Medical Scheme.

Kenny Williamson — 2010-11-22T19:14:00Z

Dear All,

Just an update:

The Council for Medical Schemes has just released circular 64 of 2010.

They have confirmed that the Moremed Medical Scheme and Clicks Group Medical Scheme are amalgamating as from the 1st of January 2010.

The new name of the amagamated scheme will be Horizon Medical Scheme from the date of amalgamation.

Have a pleasant evening.

Kenny

Remember...it Pays to have cover!

Existing Protea Medical Aid Society member- offer from Discovery Health.

Kenny Williamson — 2010-11-16T18:08:00Z

Good evening everyone,

This post concerns Protea Medical Aid Society being placed under curatorship and the resultant requests from members wanting to join Discovery Health. Discovery Health have therefore issued a special offer for existing Protea Medical Aid Society members.

On the 11th of November 2010, the Council for Medical Schemes released their Press Release 15 of 2010. This indicated that Protea Medical Aid Society had been placed under curatorship as from the 29th of October 2010. An inspection report done on the scheme had alleged financial and governance irregularities.
The court appointed curator is Mr. Velaphi Petsana, his task is to restore the financial health of the scheme and institute a new Board of Trustees in consultation with the Council for Medical Schemes. Brokers (such as myself), have also been advised to act with restraint and the principles of best advice, have the interests of the clients at heart and act based upon a proper assessment of the situation.

Which is why i feel obliged to let it be known that there is an underwriting concession available from Discovery Health. Giving clients notification of what is available is of paramount importance where one's health is concerned.

Protea Medical Aid Society has 2 plan types:

Protea Hospital Plan: this is an entry level hospital plan.

Protea Essential Plan: entry level option providing cover through preferred providers.

The membership of Protea Medical Aid Society is in the range of about 7000 members. The schemes solvency has also dropped quite drastically and is experiencing a significant amount of financial stress (as can be seen from the latest Council for Medical Schemes Annual Report).

Discovery Health's offering to existing Protea Medical Aid Society members.

Existing members of Protea will not be subject to underwriting on change of membership to Discovery Health.

Terms and conditions:
1. Members applying under this concession will receive no waiting periods or late joiner penalties other than the balance of existing waiting periods imposed by Protea or existing late joiner penalties
2. Members should use a normal application form to apply under this concession and submit proof of current membership of Protea
3. Discovery Health will accept the following forms of proof:
• A current membership certificate, or
• A clear copy of the back and front of the membership card AND proof of payment to Protea in the last two months (on an employer letterhead, payslip or bank statement)
4. Application forms must reach Discovery Health by 10 December 2010
*The medical questions need not be answered if valid proof for each individual is submitted along with the application form.

Please feel free to contact me directly ( and quickly) if you wish to discuss your options.

I can be reached via email on info@businessowner-cover.com or through the web: www.businessowner-cover.com .

Kenny Williamson

And Remember it Pays to have Cover!

Gen - Health member...join Discovery Health Medical Scheme without new waiting periods!

Kenny Williamson — 2010-11-04T13:05:00Z

Underwriting concession for Gen-Health members applying for membership of the Discovery Health Medical Scheme

On the 14th of October 2010 the Council for Medical Schemes published press release 12, announcing that Gen-Health Medical Scheme (Gen-Health) is being liquidated with effect from the 12th of October 2010.

The Discovery Health Medical Scheme has received a number of requests for membership by Gen-Health members who are concerned about the risks that the liquidation presents. In order to streamline the processing of these applications and ensure no break in cover for members, please note that existing members of Gen-Health will not be subject to underwriting on change of membership to Discovery Health.

Terms and conditions:
1. Members applying under this concession will receive no waiting periods or late joiner penalties other than the balance of existing waiting periods imposed by Gen-Health or existing late joiner penalties
2. Members can make use of a status A application form to apply under this concession along with proof of current membership of Gen-Health
The application form must reach Discovery Health by 1 December 2010

Proof of membership requirements for Gen-Health underwriting concession
Proof of membership of Gen- Health needs to be submitted.

Where membership certificates cannot be obtained, members can still join under this concession by providing the following proof with their applications:

1. A clear copy of the front and back of their membership card, and
2. Proof of payment to the Gen-Health Medical Scheme in the last two months (either on an employer letterhead, payslip or bank statement)

Please note that both sets of proof must be provided in order to qualify.

Date of Commencement

The earliest date of commencement is the 01/10/2010
The latest date of commencement is the 01/01/2010

Application here

Please note that this is on my broker code and will need to be sent to our offices, whereupon i will call you and help you with your plan selection (http://www.businessowner-cover.com/MedicalAid-Discovery_Health.html)and confirm details.

I can be reached via the email address info@businessowner-cover.

I hope this posting helps those who want to join the largest open scheme.

Remember, it Pays to have Cover!

Kenny Williamson

(Posting taken from freely available Discovery Health information).

New Medical Scheme Increases for 2011

Kenny Williamson — 2010-10-27T10:24:00Z

Hello everyone,

3 more open medical schemes have released their increases for 2011.

Bonitas medical scheme: weighted average increase of 9.6%. Includes a 16% reduction on contributions on its Essential option, which has been restructured as a hospital plan. On it's other plans, increases will range from 9.4% to 12.4%.

Spectramed medical scheme: Increase in contributions of 8.5%. Increase range from 8.5% on three options to 23.5% on Hospital Elite option.

Medshield medical scheme: Increase by 9.5%.

Genesis medical scheme: Increase of 9.5%

There has also been a correction in Liberty's weighted average increase...the previous article which i took information from (Personal Finance), stated that Liberty's weighted average increase was 13.7%, the scheme has said that it's weighted average increase is 12.8%.

Information taken from article :"Three large medical schemes announce contribution hikes", by Laura du Preez. In the Personal Finance (Weekend Argus, October the 23rd 2010).

Remember, it pays to have cover!

Medical Scheme Increases for 2011.

Kenny Williamson — 2010-10-25T10:48:00Z

These are some of the increases for medical schemes for next year;

Discovery Health Medical Scheme: 7.9% increase (across all plan types and contribution bands).

Resolution Health Medical Scheme: 8.6% increase.

Medihelp Medical Scheme: 15.5% increase. (ranged from 6.7% for some members on the low income option to 29.9% for higher income earners on the same option. The Dimension Elite option has a 23.8% increase.)

Bestmed Medical Scheme: 11.4% increase. (Risk contributions increase by 11.79%).

Liberty Medical Scheme: average increase 13.7%.(Range from 14.3% on higher cost Platinum options to 10.5% on the middle of the range options. The rate of reimbursement for in- hospital specialists reduced from 300% of the scheme rate to 200% of the scheme rate).

Fedhealth Medical Scheme: average weighted increase of 9.7%. (range of increases from 3% to 12.3%. The number of chronic conditions covered on the Maxima options have been reduced and the oncology limits have been adjusted according to option.)

Momentum Health Medical Scheme: Weighted average increase of 7.9%. The average increase on the risk contributions is 9.7%. The savings account has been removed from the Custom Option.

Information taken from the Personal Finance in the Saturday Star, article written by Laura du Preez, Oct 9th 2010.

Premiums/ Subscriptions for Bupa Worldwide Health Options from 1 October 2010 onwards.

Kenny Williamson — 2010-09-22T17:26:00Z

Good evening everyone,

I have just published the premiums for the Bupa Worldwide Health Options plans from 1 October 2010 onwards on the site.

They can be accessed on http://www.businessowner-cover.com/Intl._Health_Insurance.html if you need to view them.

Thanks
Kenny Williamson

Happy belated Birthday wishes to Discovery Life on their 10 year anniversary!

Kenny Williamson — 2010-09-21T12:34:00Z

I would like to wish Discovery Life a belated Happy 10th Anniversary!

The past 10 years have been exciting and your product innovation has been wonderful to behold.

May the next 10 years be just as exciting.

Discovery Results!!

Kenny Williamson — 2010-09-03T10:47:00Z

Dear All,

The following has been taken from the eDiscoverer, dated the 2nd of September 2010 (discoverys' ezine):

"Strong results for Discovery in a significant year of investment for future growth

Discovery today announced its annual results to analysts and media in Sandton, Johannesburg.

The results for the financial year 1 July 2009 to 30 June 2010 indicated strong performance from the group with operating profit increasing by 36% to R2.5 billion and new business up 32% to record levels. Gross inflows under management crossed the R40 billion mark for the first time and Discovery Invest posted its maiden profit.

Discovery’s established businesses continued to grow beyond expectation with substantial investment in innovation and infrastructure to support future growth. At the same time, we also implemented important strategies to position the group’s international businesses so as to capitalise on market opportunities.

Here’s an overview of our performance:

Discovery Health: New business up 48% and operating profit increase by 12% while lapse rates are at 4.1%
Discovery Life: Core operating profit up 15%, lapses improved with strong mortality results
Discovery Invest: Maiden profit of R7 million and assets under management at R11 billion
Discovery Vitality and DiscoveryCard: Continuing investment in research and development of the science behind Vitality. DiscoveryCard’s market share also increased to 8%.

In the UK market PruHealth stabilised new business, expense and lapse experience and finalised the acquisition of Standard Life Healthcare. PruProtect continues to gain traction averaging 300 applications per day and launched the Health Cover Optimiser. During the year we also announced our acquisition of a 20% stake in Ping An Health in China and with the relocation of a team, this partnership is taking shape.

As always, our excellent results are made possible by the outstanding people that make up the Discovery team coupled with your support as financial advisers. From everyone at Discovery, thank you for entrusting us to look after your clients’ needs and for your contribution and commitment to deliver the best financial advice and service to your clients. We look forward to continue working with you.

Discovery’s results presentation is available at www.discovery.co.za"

SO, it appears that Discovery is still going from strength to strength...which ultimately gives me pleasure in knowing that the company that i recommend is still doing strongly and a good choice for all those looking for cover.

Regards
Kenny Williamson

And Remember, it Pays to have Cover!

Medshield and Oxygen Medical Schemes Amalgamation is confirmed.

Kenny Williamson — 2010-09-03T10:41:00Z

Happy Casual Day everyone,

Just to inform you that the amalgamation between Medshield and Oxygen Medical Schemes has been confirmed by the Council for Medical Schemes, to take effect from the 01 October 2010.

Enjoy your weekend.

Kenny Williamson
www.businessowner-cover.com

Companies you need to Act now if you want to change your scheme without Waiting periods!

Kenny Williamson — 2010-08-31T09:29:00Z

The Medical Scheme's Act allows employer groups to switch between medical schemes on the 1st of January without any waiting periods.

Most medical schemes give their own name to this type of business, e.g. concession business, status d business and so on.

The reason for this posting is that schemes will want the application from companies that want to move to them, before the end of September.

So, if as an employer group/ company you are unsatisfied with your medical scheme, now is the time to get your application in to the company that you want to change to.

Most schemes will send you their criteria for this move if you specifically ask for it.

Here is the criteria of the biggest "open" medical scheme in South Africa:

There must be two or more principal lives within the group.
All individuals must be employees or pensioners of the same company.
The company must currently belong to a registered South African medical aid scheme.
All covered individuals must agree to transfer their memberships to the new scheme on the 1st of January.

If you are a company that wants to move schemes, i would be happy to help...if the scheme that you want to move to is one we service and we would expect to be brokers on the new scheme.

Remember, it Pays to have Cover!

Kenny.

Sizwe Medical Fund and Gen- Health Medical Scheme announce intention to merge.

Kenny Williamson — 2010-08-30T12:46:00Z

The Council for Medical Schemes have just released a circular that indicates that Sizwe Medical Fund and Gen-Health Medical Scheme want to merge.

If anyone wants to object to the above transaction they need to do so in writing before the 30 September 2010.

Have a good day
Kenny.

ihi Bupa - Review their operation

Kenny Williamson — 2010-08-19T10:33:00Z

Dear All,

I have just received a business update from ihi Bupa.

The notification reads as follows:

" After a thorough review of its operations, ihi Bupa has decided to focus on travel and international health insurance and decrease its activities in domestic health insurance and critical illness.
All affected customers will be contacted in due course by ihi Bupa.

Please be assured that this decision does not affect any of ihi Bupa’s international health insurance or travel products.

We are retaining ownership of the ihi Bupa brand and are committed to continuing to deliver high quality travel and international health insurance under the ihi Bupa brand.

We also remain committed to our presence in Copenhagen, from where we will continue to service our customers, operate our travel insurance business and Worldwide Medical Assistance centre.
Please call or email your regular contact at ihi Bupa for further information.

Tim Slee
Sales Director
Bupa International "

Regards
Kenny Williamson
Remember, it Pays to have Cover!

Momentum Health Medical Scheme and Ingwe Health

Kenny Williamson — 2010-08-19T08:46:00Z

Dear All,

Just some breaking news!

The amalgamation between Momentum Health Medical Scheme and Ingwe Health has been confirmed by the Registrar, effective from 1 September 2010.

Have a good day.

Kenny

Don't lose your benefits at Pick n' Pay!!

Kenny Williamson — 2010-08-05T13:10:00Z

Hello Everyone,

This concerns everyone who is using their Visa DiscoveryCard as their HealthyFood™ card.

There has been changes made as to how the HealthyFood™ cash back and Vitality points are captured.

From 1 August 2010, to make sure that your cash back and Vitality points are captured accurately, you need to swipe your Visa Discoverycard twice. Make sure that the cashier swipes your card before scanning your items and again when you pay.

If you don't ...you will not be able to get your Vitality points and your savings.

This is extremely important to remember.

I tested it last night at Constantia Village Pick 'n Pay ... i reminded the cashier as she did not ask...you need to be pro- active with this.

Discussing with her, she mentioned that there is a swipe point before the scanning of the items...when a green light shows after swiping, the cash back should be recorded correctly.

Do not say you haven't been warned.

Happy shopping and Remember it Pays to have Cover!

Kenny

Bupa International rename ECIS Plan to International Schools Plan

Kenny Williamson — 2010-08-05T12:08:00Z

Dear All,

Time for another update on the blog.

Bupa International have re- branded their European Council of Schools (ECIS) Company Plan as from the 1st of August 2010.

The plan is now called the "International Schools Plan". This means that Bupa International have now "opened" up the plan to other accredited and recognised international schools councils around the world.

The benefits have also been reviewed, offering some exciting new options.

International Schools still receive:

- a 25% discount.
- 60 days USA cover, rather than the standard 30 days

I am, as we speak, busy with updating www.businessowner-cover.com to reflect the change.

You can email me on info@businessowner-cover.com if you would like more information.

Enjoy the day and remember It Pays to have cover!

Kenny

Medical Aid - Discovery Health page back up on web.

Kenny Williamson — 2010-08-03T11:56:00Z

Dear All,

This is just to inform everyone that i have again put up a page explaining the medical aid plan types of Discovery Health.

There is also a page with summaries of benefits available and administrative forms that you might need.

My intention when doing a page like this, is to try and make the explaination of the plans as simple as possible and to have as much as possible regarding the plans specifically in one place.

The plan page can be accessed here http://www.businessowner-cover.com/MedicalAid-Discovery_Health.html

The page with the forms and benefits can be accessed here http://www.businessowner-cover.com/Information_and_Forms_-_Dis.html

You are once again free to send in contact forms if you want to join this medical aid and i will endeavour to help you.

Have a lovely day.

Kenny

New addition to website and blog.

Kenny Williamson — 2010-07-21T20:35:00Z

Good evening all,

I have created a short 7 question survey.

This is basically to find out where i can help by providing more information and on what topics.

Please help the process along and pay it forward by completing this little survey.

https://businessownercoversurvey.justsurvey.me/537525276d2e

Thank you for your time.

Have a lovely evening.

Kenny

Discovery Life Claims Tracker

Kenny Williamson — 2010-07-20T08:37:00Z

Good day to all,

I have downloaded an article taken from the Money Marketing, page 23. Dated the 30 of June 2010.

I decided to put it up on the blog as i know that some of you are interested in claims that are actually paid by life companies.

Some of the interesting points:

There has been no huge growth in life / risk policyholders in the last 10 years, yet claims payouts have doubled
28% of stroke victims claim again. Makes a good point for taking cover with "true" multiple claims cover.

People are living longer and a 75 year old is 17 times more likely to suffer a heart attack than a 40 year old. So make sure that you have severe illness/critical illness/dreaded disease cover for the whole of your life. Discovery Life will accept cover till age 75 for severe illness (obviously, depending on your health).

I hope you enjoy reading the article, click here.