Discovery Life Integrator PayBack managed to surprise me after 5 years of contributions! I received my “Health Integrator PayBack™ Benefit statement” by email and had to read it twice, then again to make sure that I understood it. It read as follows:…
“Discovery Life’s Integrator PayBack enables you to build a financial asset in your risk policy by managing your health. Every fifth year, you can receive a percentage of your LIFE PLAN premiums (excluding Vitality and Discovery Retirement Optimiser contributions) paid over the previous five years.”
My Discovery Health claims were in the R5,071 to R10,280 range and I’m on Diamond Vitality level so that mean that this year, I get 47.5% of my Discovery Life premiums added to my PayBack benefit! That’s over R10,000 - cool man! I need the extra cash!
Over the past 5 years, I’ve managed to attain silver for 2 years, and gold for 2 years, and Diamond for this year. So, my 5 year payback total is over R30,000 – I’ll let you know when the real cheque arrives – they say payment date is 1st Jan 2010 – perhaps I’ll be able to buy some tickets for the World Cup Soccer 2010 and visit that new Green Point Stadium – or is it now called “The Cape Town Stadium”?
Also, instead of my Life Cover going up every year – the monthly premium is now less each year – due to my Vitality Diamond status.
Thanks to my financial advisor (Wayne from ExecUneed more contact details here) who convinced me to switch from Liberty Life to Discovery Life (more cover and benefits for the same amount)… and it proves that taking advantage of Discovery’s suite of products really saves me money! I have Discovery Health, Discovery Life, Discovery Credit Card and I’m on Vitality level Diamond. See here for an article about Discovery Credit card savings.
Click here to learn about Discovery’s product integration [pdf 180Kb]: Health Integrator with payback “Discovery Life’s Integrator PayBack enables you to build a financial asset in your risk policy by managing your health. Every fifth year, you can receive a percentage of your LIFE PLAN premiums (excluding Vitality and Discovery Retirement Optimiser contributions) paid over the previous five years.”
My Discovery Health claims were in the R5,071 to R10,280 range and I’m on Diamond Vitality level so that mean that this year, I get 47.5% of my Discovery Life premiums added to my PayBack benefit! That’s over R10,000 - cool man! I need the extra cash!
Over the past 5 years, I’ve managed to attain silver for 2 years, and gold for 2 years, and Diamond for this year. So, my 5 year payback total is over R30,000 – I’ll let you know when the real cheque arrives – they say payment date is 1st Jan 2010 – perhaps I’ll be able to buy some tickets for the World Cup Soccer 2010 and visit that new Green Point Stadium – or is it now called “The Cape Town Stadium”?
Also, instead of my Life Cover going up every year – the monthly premium is now less each year – due to my Vitality Diamond status.
Thanks to my financial advisor (Wayne from ExecUneed more contact details here) who convinced me to switch from Liberty Life to Discovery Life (more cover and benefits for the same amount)… and it proves that taking advantage of Discovery’s suite of products really saves me money! I have Discovery Health, Discovery Life, Discovery Credit Card and I’m on Vitality level Diamond. See here for an article about Discovery Credit card savings.
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Would you like to see the flipside to this "great" Discovery integration at play?
ReplyDeleteReally now, if this blog is dedicated to impartial viewpoints - then give http://www.discoveryscam.com - and see what Discovery is really about!
Hi
ReplyDeleteI have been to your blog and read through it and tried to piece together your complaints with Discovery... I obviously don't know the details, and I battled to figure out what happened.
I'd ask you to make a blog posting which summarises what happened and the reasons which pushed you to go to great effort to create that blog (and Twitter account) for the purpose of exposing your griefs with the company....
BUT, I wouldn't like to put either party at a disadvantage in the court case which I'm sure will ensue!
All I can say is that if you use the policies (as I have) then I've reaped great benefits with their products.
Note: I am in no way associated with Discovery or any other company in *any* way. In fact, I have declined financial opportunities for endorsing products or services that I have not personally tried or investigated.
I have also seen Discovery's view on the matter: http://www.discovery.co.za/portal/loggedout-individual/life-response
This seems like it will be a bloody battle and I hope sense prevails.