The Dollar Life Plan Protection in the most widely used global currency - Discovery

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The Dollar Life Plan Protection in the most widely used global currency - Discovery
The Dollar
Life Plan
Protection in the most widely used global currency

DISCOV E RY L I F E | 2 02 0
The Dollar Life Plan Protection in the most widely used global currency - Discovery
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                      Offshore doesn’t have to mean miles away
DISC O V E RY LI FE

                                                                                                                                                                             CLASSIC
                      The movement of goods, services, technology and capital across international borders has led to the world’s economy becoming integrated and             PLAN

                      interdependent, making it increasingly difficult to predict where your commitments will lie in the future. Protect yourself and your family against
                      this uncertainty with the Dollar Life Plan.

                                                                                                                                                                             DOLLAR
                                                                                                                                                                             GLOBAL
                                                                                                                                                                            EDUCATION
                                                                                                                                                                            PROTECTOR

                                                                                                                                                                            EXCHANGE
                                                                                                                                                                               RATE
                                                                                                                                                                            PROTECTOR

                                                                                                                                                                            HEALTH AND
                                                                                                                                                                             WELLNESS
                                                                                                                                                                             REWARDS

                                                                                                                                                                            RETIREMENT
                                                                                                                                                                            OPTIMISER

                                                                                                                                                                             HOW THE
                                                                                                                                                                            PREMIUMS
                                                                                                                                                                              WORK

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The Dollar Life Plan Protection in the most widely used global currency - Discovery
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                      Giving you global risk protection
DISC O V E RY LI FE

                                                                                                                                                                                                       CLASSIC
                      Discovery Life International                                                                                                                                                      PLAN

                      Discovery offers a collection of customisable benefits covering the full range of possible life-changing events from death and disability to severe illness, loss of income,
                      and much more. It is a comprehensive offering that ensures no matter which stage of life you find yourself in, you will be covered, rewarded, and financially secure.
                      One of the biggest advantages of being a Discovery life insurance policyholder is having access to a benefit structure that rewards you throughout your policy term for          DOLLAR
                      leading a healthy lifestyle.                                                                                                                                                     GLOBAL
                                                                                                                                                                                                      EDUCATION
                                                                                                                                                                                                      PROTECTOR

                      T HRE E REA SON S WHY A N OFFSHOR E L I F E I NS U R A NC E P O L I C Y M A K E S S E NS E                            T HE D O L L AR L IFE PL AN O FFERS T HE
                                                                                                                                            FO L L O WING FEAT URES :
                      SOUND LO N G -TE R M FI N A N CI A L PLA NNI NG
                                                                                                                                                   Risk protection in dollar, which is insured and
                                                                                                                                                                                                      EXCHANGE
                      By taking out an offshore life insurance policy denominated in the most widely used global currency,                         paid internationally.                                 RATE
                       the US dollar, you are protected against the financial impact of a life-changing event – no matter where                                                                       PROTECTOR
                      you and your family may find yourselves in the future.                                                                       The ability to fix the rand–dollar exchange rate
                                                                                                                                                   applied to your dollar-denominated premium
                      MA T C HIN G LI A B I LI TI E S                                                                                              for three years.

                      If you have, or could in the future have, offshore liabilities such as a bond, children’s education costs or                 The opportunity to supplement your retirement      HEALTH AND

                      estate duty in a foreign country, risk protection denominated in dollar is critical to ensure that your liabilities                                                              WELLNESS
                                                                                                                                                   savings offshore.
                                                                                                                                                                                                       REWARDS
                      are fully matched. In addition, we are all impacted by a weaker rand on a daily basis, which typically results in
                      an increase in the cost of goods and services available locally.                                                             Significant financial rewards for managing your
                                                                                                                                                   health and wellness.
                      DIVE RSIFICA TI ON

                                                                                                                                                                                                      RETIREMENT
                      Discovery provides an efficient vehicle for you to supplement and diversify your retirement savings into
                                                                                                                                                                                                      OPTIMISER
                      offshore markets by allowing you to convert your future health and wellness into a tangible offshore financial
                      asset in the form of the Dollar PayBack Fund. You can further supplement your retirement savings in dollar
                      through the Buy-up Cash Conversion Benefit.

                                                                                                                                                                                                       HOW THE
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                                                                                                                                                                                                        WORK

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The Dollar Life Plan Protection in the most widely used global currency - Discovery
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                      Choose your cover
DISC O V E RY LI FE

                                                                                                                                                                          CLASSIC
                      The Dollar Life Plan consists of a Life Fund that we pay on the death of the insured person or if the insured person becomes disabled or suffers     PLAN

                      a severe illness, if selected.

                                                                                                                                                                          DOLLAR
                                                                                                                                                                          GLOBAL
                                                                                                                                                                         EDUCATION
                                                                                                                                                                         PROTECTOR

                                                                                                                                                                         EXCHANGE
                                                                                                                                                                            RATE
                                                                                                                                                                         PROTECTOR

                                                                                                                                                                         HEALTH AND
                                     The Life Fund can be increased at a discount to normal rates                                                                         WELLNESS
                                     by adding the Cover Integrator and Financial Integrator Funds.                                                                       REWARDS

                                     These Integrator Funds provide you with the opportunity to earn
                                     additional cover, free of underwriting and at no additional cost,
                                     by managing your health and wellness.

                                     You can also select the Minimum Protected Fund. With this benefit,
                                                                                                                                                                         RETIREMENT
                                     the Life Fund will never drop below a specified minimum dollar                                                                      OPTIMISER
                                     amount – no matter how many Capital Disability or Severe Illness
                                     Benefit payouts you receive or what the value of the payout is,
                                     subject to a 14-day survival period.

                                     Your benefits will increase yearly in line with US inflation.
                                                                                                                                                                          HOW THE
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                                                                                                                                                                           WORK

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The Dollar Life Plan Protection in the most widely used global currency - Discovery
The
                                                                                                                        HOME    Ca
                                                                                                                            a lump

                      Cover for disability
DISC O V E RY LI FE

                                                                                                                       CLASSIC
                      The Capital Disability Benefit offers cover that ensures the financial security                   PLAN
                      of your family through a lump-sum payout if you become disabled.

                      When choosing your level of cover, you should consider any outstanding debt and
                      other financial responsibilities you would have to settle if you were to become disabled.        DOLLAR
                      It is also important to consider the cost of modifications or lifestyle changes that would       GLOBAL
                      be required as a result of becoming disabled.                                                   EDUCATION
                                                                                                                      PROTECTOR

                      T A ILOR Y OUR B E N E FI T TO SUI T YOUR NE E D S

                      YOU CAN CHOOSE B E TWE E N :

                                                                                                                      EXCHANGE
                                 The Core benefit, which covers Category A and D disabilities;                           RATE
                                                                                                                      PROTECTOR
                                 The Comprehensive Plus benefit, which covers Category A, B and D
                                 disabilities; or

                                 The LifeTime Capital Disability Benefit. While current disability products in
                                 the market focus on the clinical severity of an injury or disability, a key factor   HEALTH AND
                                 overlooked is providing you with a benefit that helps to regain as much of your       WELLNESS
                                                                                                                       REWARDS
                                 lifestyle and independence as possible after a life-changing event. Through
                                 clinical and technological research conducted by a panel of medical experts,
                                 the LifeTime Benefit has been designed to provide you with additional upfront
                                 and ongoing payouts that take into account the significant upfront costs, as
                                 well as the ongoing maintenance and upgrade costs of the latest medical
                                 technology associated with certain disability events and conditions.                 RETIREMENT
                                                                                                                      OPTIMISER
                                 You can select the LifeTime 300 or LifeTime 200 Capital Disability Benefits,
                                 which provide additional payouts for a total payout of up to 300% and
                                 200% respectively.

                                                                                                                       HOW THE
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                                                                                                                        WORK

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The Dollar Life Plan Protection in the most widely used global currency - Discovery
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                      How we assess your claim
DISC O V E RY LI FE

                                                                                                                                                                                                                CLASSIC
                                                                                                                                                                                                                 PLAN
                      MedTech Booster Benefit

                                                                                                                                                                                                                DOLLAR
                                                                                                                                                                                                                GLOBAL
                                                   MEDTECH   MEDTECH                                                                                                                                           EDUCATION
                                                    200%      300%
                                                                                                                                                                                                               PROTECTOR

                                       Group 1       100%        200%       The MedTech Booster Benefit on the LifeTime Capital Disability Benefit provides additional upfront and ongoing payouts
                                                                            to assist in accessing cutting-edge assistive medical devices on complete or partial permanent disability.
                                       Group 2         75%       150%

                                       Group 3         50%       100%
                                                                                                                                                                                                               EXCHANGE
                                       Group 4         25%        50%                                                                                                                                             RATE

                                     +                       +                                                                                                                                                 PROTECTOR

                                                                                                                                                                                                           A
                                                                            Category A 100%: Pays out 100% if the disability meets the objective medical or Activities of Daily Living criteria.
                                              100%                          These disabilities can now also qualify for additional payouts through the MedTech Booster Benefit.

                                                                            Category B: Pays out 50% on a partial permanent disability, where the disability meets the objective medical or Activities
                                                 50%                        of Daily Living criteria. Automatically includes a Category B upgrade to 100% on the LifeTime Benefit as well as the ability
                                                                            to receive further payouts through the MedTech Booster Benefit.
                                                                                                                                                                                                           B   HEALTH AND
                                                                                                                                                                                                                WELLNESS
                                                                                                                                                                                                                REWARDS

                                                                            Inability to perform your nominated occupation: Pays out 100% of the insured amount if you are unable to perform your
                                               100%
                                                                            nominated occupation due to injury or illness.                                                                                 D

                                                                                                                                                                                                               RETIREMENT
                                                                                                      Capital Disability Benefit options                                                                       OPTIMISER
                                                                 Core                                           Comprehensive Plus                                                    LifeTime

                                                             A          D                                         A       B       D                                           A      B       D

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                      The Severe Illness Benefit
DISC O V E RY LI FE

                                                                                                                                                                                                              CLASSIC
                                                                                                                                                                                                               PLAN
                      Protect yourself against the impact of severe illnesses

     1
                      The Severe Illness Benefit pays out a lump sum if you become severely ill.
                      Discovery’s Severe Illness Benefit covers all major body systems and automatically covers you for multiple claims. You can choose to have your cover until the age of 65,
                      or for your entire lifetime. A certain level of automatic cover for your children and parents is also included on the Classic Life Plan at no additional cost.                          DOLLAR
                                                                                                                                                                                                              GLOBAL
                                                                                                                                                                                                             EDUCATION
                                                                                                                      T A I L O R Y O U R B E NEFIT T O S UIT YO UR NEED S                                   PROTECTOR
     2

                                                                                                                      Y O U C A N C H O O S E BET WEEN:

                          Nervous system                                   Eye                                           The Comprehensive Benefit, which pays out a lump sum based on the severity
                                                                                                                         of the illness.                                                                     EXCHANGE
                                                                           Ear, nose and throat                                                                                                                 RATE
     3
                                                                                                                         Discovery’s LifeTime Severe Illness Benefit, which provides you with a minimum     PROTECTOR
                                        Cancer
                                                                                                                         payout of 100% of your insured amount for all qualifying heart attacks, cancers
                                                                           Heart and artery system                       and strokes, and will pay up to 215% of the insured amount based on the long-term
                                                                                                                         impact of the illness and your family composition at point of claim.
                      Respiratory system
                          Gastrointestinal
                                                                           Endocrine                                     You can add the Plus versions of these benefits, which provide cover at earlier    HEALTH AND
                                                                                                                         stages of an illness.                                                                WELLNESS
                           Urogenital tract                                Connective                                                                                                                         REWARDS
                               and kidney                                  tissue diseases

                                                                           Advanced AIDS/HIV

                          Musculoskeletal                                                                                                                                                                    RETIREMENT
                                                                                                                                                                                                             OPTIMISER

                                                                                                                                                                                                              HOW THE
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The Dollar Life Plan Protection in the most widely used global currency - Discovery
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                      How we assess your claim
DISC O V E RY LI FE

                      You can be sure of comprehensive lifestyle protection for you and your family since
                                                                                                                 CLASSIC
                      we’ve calculated benefit payouts to relieve any financial burden. If you need to claim      PLAN
                      against your Severe Illness Benefit, depending on your benefit option, your payout
                      will be based on the severity level of your illness as shown in the following table:

     1

                        Severity                       A         B        C            D       E     F     G
                                                                                                                 DOLLAR
                        Percentage payable             100%      75%      50%          25%     15%   10%   5%    GLOBAL
                                                                                                                EDUCATION
                                                                                                                PROTECTOR
     2
                                                           Comprehensive Benefit

                                                           Comprehensive Plus Benefit

                                                                                                                EXCHANGE

     3                                                                                                             RATE
                        Severity                       A         B        C            D       E     F     G    PROTECTOR

                                                       Up to     Up to    Up to        Up to
                        Percentage payable                                                     15%   10%   5%
                                                       215%      190%     175%         100%

                                                                                                                HEALTH AND
                                                               LifeTime Benefit                                  WELLNESS
                                                                                                                 REWARDS
                                                               LifeTime Plus Benefit

                                                                                                                RETIREMENT
                                                                                                                OPTIMISER

                                                                                                                 HOW THE
                                                                                                                PREMIUMS
                                                                                                                  WORK

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                      Additional benefits to provide you with further lifestyle protection
DISC O V E RY LI FE

                                T HE G LOB A L TR E A TM E N T B E N EF I T                                     C A NC E R R EL APS E BENEFIT
                                                                                                                                                                                                CLASSIC
                                                                                                                                                                                                 PLAN
                                Covers you for international healthcare procedures and gives you access to       The Cancer Relapse Benefit automatically forms part of the LifeTime and
                                expert medical practitioners and facilities around the world. It also provides   LifeTime Plus Severe Illness Benefits. On recurrence of a cancer after a
                                you with an additional amount to assist with travel, accommodation and           one-year remission period, you will receive an additional payout of 50%
     1
                                living expenses you may incur for illnesses treated with qualifying treatments   or 100% of your insured amount, based on the LifeTime Maximum
                                overseas. This effectively allows you to receive up to 250% of your Severe       selected. The Cancer Relapse Benefit will be paid in addition to the normal
                                Illness Benefit insured amount if you require treatment overseas.                progressive cancer payouts, allowing you to receive up to 365% of your         DOLLAR
                                                                                                                                                                                                GLOBAL
                                                                                                                 insured amount for a sequence of related cancers.
                                                                                                                                                                                               EDUCATION
                                UNL I M I TE D M ULTI PLE CLA I M S                                                                                                                            PROTECTOR
     2                                                                                                           T H E E A R L Y CANCER BENEFIT
                                The most comprehensive multiple claims facility on the market offers
                                you the ability to claim in excess of the benefit amount for multiple related    Provides a payout of up to $16 000 for an extensive list of cancers if they
                                non-progressive claims, regardless of whether a subsequent claim is of a         are detected early. This benefit is automatically included as part of the
                                higher, lower or the same severity as the previous claim.                        Comprehensive Plus and LifeTime Plus Severe Illness Benefits.                 EXCHANGE

     3                                                                                                                                                                                            RATE
                                T HE I N TE N S I V E CA R E B E N E FI T                                       T H E C A NC E R EXO ME S EQ UENCING BENEFIT                                PROTECTOR

                                Cover for intensive care unit (ICU) admissions for diseases and trauma           Provides a payout to assist in funding the costs of sequencing of certain
                                events is provided through the Intensive Care Benefit at no additional           high-risk tumours to determine the optimal treatment regime.
                                premium.
                                                                                                                                                                                               HEALTH AND
                                                                                                                                                                                                WELLNESS
                                                                                                                                                                                                REWARDS

                                                                                                                                                                                               RETIREMENT
                                                                                                                                                                                               OPTIMISER

                                                                                                                                                                                                HOW THE
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                                                                                                                                                                                                 WORK

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                      The Dollar Global Education Protector
DISC O V E RY LI FE

                      T he Global Education Protector covers the actual costs of your children’s education, from crèche through to college, if you pass away or suffer a severe illness                GLOBAL RISK
                       or disability. If you actively manage your health and wellness, we will fund up to 100% of your children’s college tuition fees, even if you have not experienced                PROTECTION

                       a life-changing event like a death or severe illness.
     1

                      Funding all of your children’s education needs if you are unable to

     2                COVE RING TUI TI ON A N D COLLE G E R E S I D E NC E F E E S                             A NNU A L L U M P S UM PRO VID ES HO L IS T IC PRO T ECT IO N

                      The Dollar Global Education Protector provides true global education protection          Ensuring that your children have all the necessary resources they need to excel in
                      for your children, at any international education institution, from crèche until         their education is key in our ever-competitive world. To assist them in reaching their
                       they graduate from college. You can choose whether you want to be covered               goals, Discovery Life’s Discretionary Lump-sum Benefit provides a yearly lump sum
                                                                                                                                                                                                        EXCHANGE
                      for disability, severe illness and death, for severe illness and disability only or      to assist in funding the costs of:                                                          RATE
                      only for death.                                                                                                                                                                   PROTECTOR
                                                                                                                  Uniforms
                      The actual tuition and residence fees (at tertiary level) will always be paid at the        Stationery and textbooks
                      maximum amount set per phase of education no matter the cost of the education
                                                                                                                	Technology (such as laptops and iPads)
                      facility attended. The additional amount that is not used to cover the education
                      costs after the fees have been paid, will be paid offshore either into a trust or your      Tutoring and extra lessons
                                                                                                                                                                                                        HEALTH AND
                      selected offshore bank account, and can be used at your discretion.                         Transport costs                                                                        WELLNESS
                                                                                                                  School trips.                                                                          REWARDS

                        Stage of education                         Number of years covered

                        Crèche                                     Three years

                        Pre-primary                                Two years                                                 Rewarding achievements
                                                                                                                                                                                                        RETIREMENT
                                                                                                                                                                                                        OPTIMISER
                        Primary school                             Seven years                                      If your children receive a bursary after a claim has been made under your
                        Secondary school                           Five years                                       Dollar Global Education Protector, the Bursary CashBack Benefit provides
                                                                                                                    an additional payout to reward your children for excelling.
                                                                   An undergraduate degree, or
                        College education
                                                                   recognised diploma or certificate
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                      Fund up to 100% of your children’s college education, even if you don’t claim
DISC O V E RY LI FE

                      Over the years we’ve gained an in-depth understanding of the impact that health and wellness have on insurance risk. With our greater understanding of these
                      relationships, we can reward you for improving and managing health and wellness with a financial asset that can help to fund your children’s college tuition fees:                    GLOBAL RISK
                      the College Funder Benefit.                                                                                                                                                           PROTECTION

     1

                      REWA RDIN G YOUR I M PR OV E D HE A LT H A ND W E L L NE S S B Y F U ND I NG Y O U R C H I L D R E N’ S C O L LEG E ED UCAT IO N

                      We will automatically fund 10% of your children’s college tuition fees at the start of      At the beginning of the year that your child first attends a qualifying tertiary
                      your policy. By engaging with Vitality each year, you can increase the percentage of        education institution, we will calculate the accumulated percentage earned to
     2                your children’s college tuition fees that is funded to up to 100% of their actual tuition   date, and then fund that percentage of your child’s fees up to a specified maximum.
                      fees. The yearly College Funder Benefit amounts that you can earn are displayed in          The number of years of their education that we will fund is based on the age of your
                      the following table:                                                                        child on the start date of this benefit as shown in the table below:

                                                                 Vitality status                                   Age of your child on policy                                                              EXCHANGE
                                                                                                                                                                Number of years covered                        RATE
                                                                                                                   start date                                                                               PROTECTOR

                       Dollar Global                                                                               Below the age of 5                           Three years
                                                          Blue     Bronze      Silver   Gold       Diamond
                       Education Protector
                                                                                                                   Between the ages of 5 and 9                  Two years
                       Annual College
                                                                                                                   Between the ages of 10 and 12                One year                                    HEALTH AND
                       Funder Benefit                     0.5%      1.5%           3%    4%            5%
                                                                                                                                                                                                             WELLNESS
                       adjustments                                                                                 Older than age 12                            Zero years                                   REWARDS

                                                                                                                  If your child does not attend college (or a qualifying tertiary education institution),
                                                                                                                   we will make a once-off payout equal to 50% of your accumulated percentage earned
                                                                                                                  to date, multiplied by the relevant yearly College Funder Benefit maximum.
                                                                                                                                                                                                            RETIREMENT
                                                                                                                                                                                                            OPTIMISER

                                                                                                                                                                                                             HOW THE
                                                                                                                                                                                                            PREMIUMS
                                                                                                                                                                                                              WORK

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                                                          Exchange Rate Protector
DISC O V E RY LI FE

                                                          Get certainty by fixing the rand–dollar exchange rate                                    GLOBAL RISK
                                                                                                                                                   PROTECTION

                                                          The Exchange Rate Protector enables you to have additional premium certainty
                                                          by fixing the rand–dollar exchange rate applied to your dollar-denominated
                                                          premium for three years.
                                                                                                                                                    DOLLAR
                                                                                                                                                    GLOBAL
                                                                                                                                                   EDUCATION
                                                                                                                                                   PROTECTOR
                                                          For three years, the rand–dollar exchange rate used for premium collection on your
                                                          Dollar Life Plan will be fixed at a 20% discount to the monthly exchange rate as at
                                                          the time of taking out this benefit. This fixed exchange rate applies provided that it
                                                          doesn’t exceed a specified maximum rate.

                                                          To further increase certainty, if the actual exchange rate exceeds the maximum
                                                          allowable exchange rate for the Exchange Rate Protector in the first three years,
                                                          a 20% discount on the prevailing exchange rate will apply during this time.

                                                                                                                                                   HEALTH AND
                                                                                                                                                    WELLNESS
                                                                                                                                                    REWARDS

                                                                                                                                                   RETIREMENT
                                                                                                                                                   OPTIMISER

                                                                                                                                                    HOW THE
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                                                                                                                                                     WORK

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                      Health and wellness rewards
DISC O V E RY LI FE

                      With Discovery, you get significant value by linking your Life Plan to your other Discovery products through Integration. By using the information we   GLOBAL RISK
                                                                                                                                                                              PROTECTION
                      collect across the Discovery businesses, we have a better understanding of the steps you take to improve your fitness, and manage your health and
                      finances. You will enjoy an initial premium discount, which will adjust over time, based on how well you manage your health and wellness. You will
                      also receive a Dollar PayBack Fund, provided that the sum of the Cover and Financial Integrators is equal to 60% of your Life Fund.

                                                                                                                                                                               DOLLAR
                                                                                                                                                                               GLOBAL
                                                                                                                                                                              EDUCATION
                                                                                                                                                                              PROTECTOR

                                                                                                                                                                              EXCHANGE
                                                                                                                                                                                 RATE
                                                                                                                                                                              PROTECTOR

                                                                                                                                                                               CLASSIC
                                                                                                                                                                                PLAN

                                                                                                                                                                              RETIREMENT
                                                                                                                                                                              OPTIMISER

                                                                                                                                                                               HOW THE
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                      Upfront
DISC O V E RY LI FE

                                                                                                                                                                                     Vitality

                      and
                                                                            Up to                                          Up to                                           Up to     Active

                                                                         20%                                          17.5%                                             15%
                                                                                                          OR                                        OR
                                                                                                                                                                                                    GLOBAL RISK
                                                                           discount                                       discount                                        discount                  PROTECTION

                      ongoing                                 If you have a Life Plan, are a Vitality      If you have a Life Plan and are a Vitality     If you have a Life Plan and Vitality

                      premium
     1                                                        member and have a qualifying                 member, you qualify for the Vitality           Active, you qualify for the Active
                                                              health plan from a medical scheme            Integrator, which provides an initial          Integrator, which provides an initial      DOLLAR
                                                              administered by Discovery Health, you        premium discount of up to 17.5%. This          premium discount of up to 15%. This        GLOBAL
                                                                                                                                                                                                    EDUCATION

                      discounts
                                                              qualify for the Health Integrator, which     means that, as a member of Vitality,           means that, as a member of Vitality
                                                                                                                                                                                                    PROTECTOR
                                                              provides an initial premium discount         you can receive a total initial premium        Active, you can receive a total initial
     2                                                        of up to 20%. This means that, as a          discount of up to 40% when combined            premium discount of up to 33% when

                      of up to
                                                              member of a qualifying Health Plan           with your Vitality Rating and Bank             combined with your Vitality Rating and
                                                              and Vitality, you can receive a total        Integrator discounts.                          Bank Integrator discounts.
                                                              initial premium discount of up to 42%
                                                                                                                                                                                                    EXCHANGE

                      42%
                                                              when combined with your Vitality
                                                                                                                                                                                                       RATE
                                                              Rating and Bank Integrator discounts.                                                                                                 PROTECTOR

                                                                                       +                                                                      +
                      Through Integration you can
                      receive an initial premium
                                                                                               Vitality
                      discount, with the ability                                      Up to
                                                                                               Health
                                                                                                                                                            Up to
                                                                                                                                                                      Discovery                      CLASSIC
                                                                                               Check                                                                    Bank                          PLAN
                      to control future premium
                      adjustments by improving and                              15% discount
                                                                                                                                                          15%
                                                                                                                                                           discount
                      managing your health and
                      financial wellness. As a member
                                                                                                                                                                                                    RETIREMENT
                      of Vitality or Vitality Active, or as   Through Vitality Rating, qualifying clients                            If you are the principal or secondary cardholder of
                                                                                                                                                                                                    OPTIMISER
                      a member of a medical scheme            automatically receive a premium discount of up                         a qualifying Discovery Bank account (or if you are the
                      administered by Discovery               to 15% on qualifying benefits. This discount can be                    main insured person with a Discovery Card, excluding
                                                              maintained based on the results of your key health                     Blue Discovery Cards), you qualify for an initial premium
                      Health, or as a qualifying
                                                              metrics (body mass index [BMI], cholesterol, blood                     discount of up to 15%. This means that you can receive
                      Discovery Bank client, you could        pressure and blood glucose), which are measured                        a total initial premium discount of up to 42% when
                                                                                                                                                                                                     HOW THE
                      qualify for the following upfront       at the start of your policy.                                           combined with other Integrator discounts and the
                                                                                                                                                                                                    PREMIUMS
                      premium discounts:                                                                                             Vitality Rating discount.                                        WORK

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                      MA NAGING YOUR PR E M I UM                                                           P R O T E C T I NG Y O UR PREMIUM
DISC O V E RY LI FE

                      Each year, we consider your Vitality status and your qualifying health plan claims   Discovery provides you with premium certainty through the Maximum Protected
                      (if Health Integrated), as well as your Vitality Money status and your average       Premium, and will stop any Integrator adjustments after you undergo a qualifying
                      monthly qualifying Discovery Bank account spend (if Bank Integrated) over the        claim event. This ensures your life insurance premiums remain affordable,          GLOBAL RISK
                      previous policy year to gradually adjust the premium discounts.                      regardless of your health.                                                         PROTECTION

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                                                                                                                                                                                               DOLLAR
                                                                                                                                                                                               GLOBAL
                                                                                                                                                                                              EDUCATION
                                                                                                                                                                                              PROTECTOR

     2

                                                                                                                                                                                              EXCHANGE
                                                                                                                                                                                                 RATE
                                                                                                                                                                                              PROTECTOR

                                                                                                                                                                                               CLASSIC
                                                                                                                                                                                                PLAN

                                                                                                                                                                                              RETIREMENT
                                                                                                                                                                                              OPTIMISER

                                                                                                                                                                                               HOW THE
                                                                                                                                                                                              PREMIUMS
                                                                                                                                                                                                WORK

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                      Health and wellness supplementing
DISC O V E RY LI FE

                      your retirement                                                                                                                                                                                         GLOBAL RISK
                                                                                                                                                                                                                              PROTECTION

                                T HE DOLLA R PA YB A CK FUN D                                                      If, for example, your life cover premium is $250 with a Comprehensive Health
                                                                                                                   Integrated Dollar Life Plan, you will receive a Dollar PayBack Fund to the value of
                                In addition to upfront premium discounts of up to 42%, you can qualify             $87 500 ($250 x 335). Assuming you were 35 years old when you first qualified for                           DOLLAR
                                                                                                                   the Dollar PayBack Fund, the payout made at age 65 will be as follows:                                      GLOBAL
                                for the Dollar PayBack Fund. The Dollar PayBack Fund provides a powerful
                                                                                                                                                                                                                              EDUCATION
                                mechanism to convert your health and wellness management into a
                                                                                                                                                                                                                              PROTECTOR
                                significant financial asset to supplement your offshore retirement savings.            Vitality status                  Dollar amount                   Equivalent rand amount
                                                                                                                                Blue                          $101 061                               R1 414 854
                                HOW TH E DOLLA R PA YB A CK FU ND W O R K S
                                                                                                                               Silver                         $148 727                               R2 082 178
                                 	You will receive a Dollar PayBack Fund, provided that the sum of the Cover                                                                                                                 EXCHANGE
                                   and Financial Integrators is equal to 60% of your Life Fund.                              Diamond                          $183 932                               R2 575 048                  RATE
                                                                                                                                                                                                                              PROTECTOR
                                 	Your Dollar PayBack Fund is equal to 335, on the Comprehensive Integrator
                                                                                                                   Assuming a rand–dollar exchange rate of R14/$, US inflation of 2% and R3 000 annual qualifying health
                                   and 170 on the Core Integrator, times your initial monthly life cover
                                                                                                                   claims (main member only on the Discovery Health Medical Scheme’s Comprehensive Health Plan), 40%
                                   premium.                                                                        Cover Integrator and 20% Financial Integrator.

                                 	Your Dollar PayBack Fund will grow every year in line with US inflation, plus
                                                                                                                   The Dollar PayBack Fund is an automatic benefit and no additional premium will
                                   an additional factor (positive or negative) based on how well you manage
                                                                                                                   be charged for it.                                                                                          CLASSIC
                                   your health and wellness.                                                                                                                                                                    PLAN

                                 	At age 65 or 20 years after qualifying for the Dollar PayBack Fund,
                                                                                                                   T H E B U Y - U P C A S H CO NVERS IO N BENEFIT
                                   whichever is later, 100% of the Dollar PayBack Fund will be paid into your
                                   offshore or local bank account.
                                                                                                                   With the Buy-up Cash Conversion Benefit, available through the Cover and
                                                                                                                   Financial Integrators, you can choose to receive 25% or 50% of the Cover                                   RETIREMENT
                                                                                                                   or Financial Integrator Funds as a tax-free lump sum. This is paid in dollar at                            OPTIMISER
                                                                                                                   age 65 and will not reduce the value of your Life Fund. This benefit is available
                                                                                                                   at an additional premium.
                                                                                                                   Please note that the Buy-up Cash Conversion Benefit is not an investment product, but is a risk benefit,
                                                                                                                   therefore no lapse or surrender value will be provided before the payout become due.
                                                                                                                                                                                                                               HOW THE
                                                                                                                                                                                                                              PREMIUMS
                                                                                                                                                                                                                                WORK

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                      The Dollar Discovery Retirement Optimiser
DISC O V E RY LI FE

                      The Dollar Discovery Retirement Optimiser allows you to save for your retirement each month through an offshore endowment policy denominated in                                                       GLOBAL RISK
                      US dollar. You can invest in a range of funds according to your risk profile.                                                                                                                         PROTECTION

     1

                                                                                                                                                                                                                             DOLLAR
                                                                                                                                                                                                                             GLOBAL
                                                                                                                                                                                                                            EDUCATION
                                                                                                                                                                                                                            PROTECTOR

                      By taking advantage of the efficiencies created through the Dollar Life Plan, you can also qualify for the Dollar Retirement Investment Integrator and the Dollar Life Plan
     2
                      Optimiser. Certain qualifying criteria and terms and conditions apply for the Dollar Discovery Retirement Optimiser, the Dollar Retirement Investment Integrator and the
                      Dollar Life Plan Optimiser.

                      The Dollar Discovery Retirement Optimiser offers cost-effective fees while allowing you to maximise your returns.                                                                                     EXCHANGE
                                                                                                                                                                                                                               RATE
                                                                                                                                                                                                                            PROTECTOR
                      Additional benefits available on the Dollar Discovery Retirement Optimiser

                      T HE DOLLA R R E TI R E M E N T I N V E S TM E N T I NT E G R A T O R                                             H O W T H E D O L L A R RET IREMENT INVES T MENT INT EG RAT O R WO RK S
                                                                                                                                                                                                                            HEALTH AND
                      Through the Dollar Retirement Investment Integrator you can reduce your Discovery                                 Your Dollar Life Plan premium is $150 and you invest $800 in the Dollar Discovery    WELLNESS
                                                                                                                                                                                                                             REWARDS
                      Invest yearly administration fees, commission recoupment charges and asset                                        Retirement Optimiser each month. You qualify for a Dollar Retirement Investment
                      management fees by between 20% and 80%. Your discount will apply to your chosen                                   Integrator discount of 45.06%, up to the age of 65, as calculated below:
                      funds each month until you reach the age of 65, according to the following table:
                                                                                                                                        (( $215 X 20% ) + ( $215 X 35% ) + ( $215 X 55% ) + ( $155 X 80% )) / $800
                                                                         Dollar Retirement Investment
                                                                              Integrator discount                                                                                                                            CLASSIC
                                                                                                                                                                                                                              PLAN
                        Monthly Dollar
                                                                  First            Next             Next            More than
                        Discovery Retirement
                                                                  $215*            $215*            $215*            $645*
                        Optimiser contribution

                        Discount                                    20%             35%               55%                 80%                                                                                                HOW THE
                                                                                                                                                                                                                            PREMIUMS
                      This table will be updated each year by Discovery Invest. The discounts will not apply after age 65. *Effective                                                                                         WORK
                      from January 2019.

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                      T HE DOLLA R LI FE PLA N OPTI M I SE R
DISC O V E RY LI FE

                      You can receive a tax-free boost to your Dollar Discovery Retirement Optimiser
                      endowment policy of up to 40% at age 65 through the Dollar Life Plan Optimiser.

                      This boost is based on the term of your policy from the policy start date to age 65.               GLOBAL RISK
                                                                                                                         PROTECTION
                      The Dollar Life Plan Optimiser boost is paid out in 10 yearly, tax-free instalments into
                      your offshore endowment policy.

                      This amount will increase each year in line with US inflation (if applicable), from age 65.
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                      The yearly boost instalments will reduce your Dollar Life Fund as and when they are paid.
                                                                                                                          DOLLAR
                                                                                                                          GLOBAL
                                                     The Dollar Life Plan Optimiser boost                                EDUCATION
                                                                                                                         PROTECTOR
                      Term to age 65
                                     0 – 119 120 – 149 150 – 179 180 – 209 210 – 239 240 – 269 270 – 299         300 +
     2                (in months)

                        Boost at age
                                                0%         5%   10%     15%        20%       30%        35%      40%
                        65                                                                                               EXCHANGE
                                                                                                                            RATE
                                                                                                                         PROTECTOR

                      HOW T HE DOLLA R LI FE PLA N OPTI M I S E R W O R K S

                      If you take out a Dollar Discovery Retirement Optimiser at age 50, the boost percentage
                      will be 15%. Assume that at age 65 the value of your Dollar Discovery Retirement Optimiser         HEALTH AND
                      endowment policy is $500 000.                                                                       WELLNESS
                                                                                                                          REWARDS
                      The Dollar Life Plan Optimiser will be:

                      15% X $500 000 = $75 000

                      In addition to your endowment policy value of $500 000, you will receive an annual Dollar
                      Life Plan Optimiser instalment, for a period of 10 years, of $7 500 ($75 000/10), increasing
                                                                                                                          CLASSIC
                      each year in line with US inflation.
                                                                                                                           PLAN

                      HOW MUCH YOU CA N I N V E ST I N TH E D O L L A R D I S C O VE R Y R E T I R E M E NT
                      OPT IMISER

                      The Dollar Discovery Retirement Optimiser is available for monthly contributions only.
                                                                                                                          HOW THE
                      The minimum monthly contribution is $60 (as at October 2018).                                      PREMIUMS
                                                                                                                           WORK

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                      The fees charged on your Dollar
DISC O V E RY LI FE

                      Discovery Retirement Optimiser                                                                                                                                                        GLOBAL RISK
                                                                                                                                                                                                            PROTECTION

                                                                                                                                                                                                             DOLLAR
                                                                                                                                                                                                             GLOBAL
                                                                                                                                                                                                            EDUCATION
                      Summary of fees                                                                                                                                                                       PROTECTOR

                      The Dollar Life Plan is offered by Discovery Life and the Dollar Discovery Retirement Optimiser is offered by Discovery Invest. If the client owns a Dollar Life Plan
                      and links their Dollar Discovery Retirement Optimiser to the Dollar Life Plan, Discovery Invest will not charge initial fees.
                                                                                                                                                                                                            EXCHANGE
                                                                                                                                                                                                               RATE
                      A NNUA L FE E S CH A R G E D                                T R A NS A C T I O N F E E S                                                                                              PROTECTOR

                      B Y DISCO V E R Y I N V E ST                                SWITCH FEES

                      You will be charged an annual fee of 1.5% of your           You will be charged a switch fee of 0.25% of the amount switched (up to a maximum of $50) for each switch made.
                      investment value. A part of this fee goes towards                                                                                                                                     HEALTH AND
                                                                                                                                                                                                             WELLNESS
                      paying your financial adviser an upfront fee at the         EARLY EXIT FEES
                                                                                                                                                                                                             REWARDS
                      start of your investment as well as ongoing additional
                      payments. This fee is divided by 12 and deducted            Discovery Invest charges an early exit fee if your policy is paid up, or if you make a withdrawal from your Dollar
                      monthly by selling units from your policy.                  Discovery Retirement Optimiser within the first five years of your policy start date. This early exit fee will be up to
                                                                                  15% of your investment value, and will reduce linearly to 0% over a five-year period. Because the Dollar Discovery
                      B Y T HE FUN D M A N A G E R                                Retirement Optimiser is an endowment policy, only one withdrawal will be allowed during the first five years from
                                                                                  your policy start date. The maximum withdrawal is restricted to your contributions plus 5% interest, compounded            CLASSIC
                                                                                                                                                                                                              PLAN
                      You will be charged a yearly fund manager’s fee for         each year.
                      investing in their funds.
                                                                                  Discovery Invest also charges an early exit fee if you reduce the contributions to your Dollar Discovery Retirement
                      This fee is priced within the unit price of the fund.       Optimiser within five years from your policy start date. The early exit fee charged will be in proportion to your
                      Your financial adviser can advise on the fees for the       contribution reduction.
                      different funds.                                                                                                                                                                       HOW THE
                                                                                  All fees quoted may be reviewed by Discovery Invest from time to time. Discovery Invest will inform you in writing
                                                                                                                                                                                                            PREMIUMS
                                                                                  if this happens.                                                                                                            WORK

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                      How the premiums work
DISC O V E RY LI FE

                                                                                                                                                                                                         GLOBAL RISK
                      T HE DOLLA R LI FE PLA N                                                                    R E P O R T I NG A ND EXCHANG E CO NT RO L IMPL ICAT IO NS                             PROTECTION

                      Premiums and contributions will be denominated in dollars and will fluctuate                Discovery Life will facilitate an automatic, seamless reporting process to the South
                      monthly in rand terms with the prevailing exchange rate unless you select the               African Reserve Bank on your behalf. The Dollar Life Plan and the Dollar Discovery
                      Exchange Rate Protector (as discussed on page 10). Your Dollar Life Plan premium            Retirement Optimiser are offered on the premise that you use your R1 million single
                      will increase each year in line with US inflation, plus an additional age-related factor.   discretionary allowance to pay the premiums. It is your responsibility to make sure     DOLLAR
                                                                                                                                                                                                          GLOBAL
                      You can influence this increase through Integration and by effectively managing your        you comply with exchange control regulations. Discovery Life will not accept any
                                                                                                                                                                                                         EDUCATION
                      health and wellness. The minimum monthly Dollar Life Plan premium is $50.                   legal responsibility if you fail to meet your exchange control obligations.            PROTECTOR

                      T HE DOLLA R D I S COV E R Y R E TI R E M E N T O P T I M I S E R                           I N T H E E VE NT O F A CL AIM

                      Certain qualifying criteria, and terms and conditions apply for the Dollar Discovery        Claim and benefit proceeds will be paid in dollar into an offshore or local
                      Retirement Optimiser, the Dollar Retirement Investment Integrator and the Dollar            bank account.                                                                          EXCHANGE
                      Life Plan Optimiser.                                                                                                                                                                  RATE
                                                                                                                                                                                                         PROTECTOR
                      You must keep your Dollar Life Plan premium above the required minimum
                      level to qualify for the Dollar Life Plan Optimiser and Dollar Retirement
                      Investment Integrator.

                                                                                                                                                                                                         HEALTH AND
                      If you reduce your monthly contributions, make a withdrawal, or make your Dollar
                                                                                                                                                                                                          WELLNESS
                      Discovery Retirement Optimiser paid up, you may forfeit a part or all of your Life
                                                                                                                                                                                                          REWARDS
                      Plan Optimiser and your Dollar Retirement Investment Integrator.

                      Discovery Invest may update the list of funds that qualify for the Dollar Retirement
                      Investment Integrator from time to time.

                                                                                                                                                                                                         RETIREMENT
                                                                                                                                                                                                         OPTIMISER

                                                                                                                                                                                                          CLASSIC
                                                                                                                                                                                                           PLAN

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DISC O V E RY LI FE

                      This brochure is a summary of the Dollar
                      Life Plan offered by Discovery Life. Speak
                      to your financial adviser about the full
                      range of Discovery Life products. For more
                      information refer to the Discovery Dollar
                      Life Plan Guide or visit www.discovery.co.za

                         Speak to your financial adviser about the range of Discovery Life products to suit your individual, personal or business needs.

                         The Dollar Life Plan and Dollar Discovery Retirement Optimiser are issued by Discovery Life Limited International, the Guernsey branch of Discovery Life Limited (South Africa), licensed by the Guernsey Financial Services
                         Commission, under the Insurance Business (Bailiwick of Guernsey) Law 2002 to carry on long-term insurance business. The Dollar Life Plan and the Dollar Discovery Retirement Optimiser are also subject to the South
                         African Long-term Insurance Act of 1998.

                         Discovery Life Limited is a registered long-term insurer and an authorised financial services provider. Registration number 1966/003901/06. Discovery Life Investment Services Pty (Ltd) branded as Discovery Invest is an
                         authorised financial services provider. Registration number 2007/005969/07.
                         The Dollar Discovery Retirement Optimiser is administered by Discovery Invest, a subsidiary of Discovery Limited.

                         The trustee appointed by the Branch must hold the licensed insurer’s assets representing at least 90% of policyholder liabilities in trust as imposed by a standard condition on the licence of the Insurer under section 12 of
                         the Insurance Business (Bailiwick of Guernsey) Law, 2002 (as amended).

                         The information given in this document is based on Discovery’s understanding of current law and practice in South Africa and Guernsey.

                         No liability will be accepted for the effect of any future legislative or regulatory changes. Product rules, terms and conditions apply.

                         RCK_75214DL_07/08/2020_V1
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