Income Disability Cover

There is no doubt that your greatest asset is your ability to work and earn an income.

After all, you insure your house, car and other assets, which don't come anywhere near your income earning potential.

If you are managing to survive on your salary... how will you survive without it?

IF YOU CAN’T AFFORD AN INSURANCE PREMIUM, YOU SURE CAN’T AFFORD A DISABILITY!

You have a;


  • 1 in 1200 chance you may have to claim for fire or theft in your home.
  • 1 in 250 chance you will damage or have your car stolen.
  • 1 in 8 chance you will suffer a disability before age 65.
  • One year of disability can wipe out 10 years’ worth of savings.
  • More homes are lost through disability than death.

Over an average working lifetime, you could earn in excess of R14,000,000!

So, your earnings are vital to both you and your family's continued financial security.


  • What will you and your family do if your income stops through disability?
  • Who will have to support you and your family, for the rest of your lives?
  • Will your spouse be able to support you on one salary?
  • How will they manage?
  • How will it affect your family's current lifestyle?
  • And what can they do to protect you, if they die before you?
  • Worse still, if you are single, who will you then depend on? Your parents?

A huge responsibility that no one should have to bear.

But;

  • You could also lose all your current assets and investments.
  • You could also lose your family home and your pension saving plan.
  • Will your children be able to stay at their school?
  • Your life could change for the worse.
  • And a disability might last for the rest of your life!
  • Disability can happen at any time, to anyone - regardless of race, religion, gender or profession. It is not selective!
  • Your need for disability insurance becomes even more important if you have other people outside of your immediate family, like an elderly parent, who depends upon you for income.

A situation that is too frightening to contemplate - but that can so easily be prevented!

Surely it makes sense to secure your income earning potential !


Unfortunately, people often assume that just because they're healthy, they won’t become disabled.

And that's simply not true. Accidents happen. So being healthy doesn't usually have anything to do with whether you become disabled or not.

Your lifestyle is determined by the income you earn. Take away this income and you are in deep, deep trouble! Only two things produce an income;

People at work.
Capital at work.

If you cannot work anymore and like many, don't have the capital saved, you'll need another source of income.


Disability Insurance is the only way to IMMEDIATELY have access to a large, tax-free lump sum if you suffer a life-changing event.


  • Approximately 10% of the world's population (650 million people), live with a disability.
  • In South Africa, only 25 out of every 10 000 people who are afflicted with a disability and rehabilitated and can return to work.

See the impact that a disability could have on your future income in the table below:


  25 35 45 55
Income R 120 000 pa R 120 000 pa R 120 000 pa R 120 000 pa
Potential Income loss R 15,3 million R 8,5 million R 4,2 million R 1,7 million
Income R 240 000 pa R 240 000 pa R 240 000 pa R 240 000 pa
Potential Income loss R 30,6 million R 17 million R 8,6 million R 3,4 million
Income R 360 000 pa R 360 000 pa R 360 000 pa R 360 000 pa
Potential Income loss R 46 million R 25,5 million R 12,8 million R 5,1 million
Income R 480 000 pa R 480 000 pa R 480 000 pa R 480 000 pa
Potential Income loss R 61,3 million R 33,9 million R 17,1 million R 6,8 million

Table: Magnitude of loss of potential income (Assumptions: retirement age is 65 yrs and income growth was 5% pa)

Example using the above table: When a 35 year old individual, earning R 240 000 pa, becomes disabled permanently; He stands to lose R17 million future income (That is if his income grew with 5% pa and he wanted to retire at age 65 years).


Income Protection

Would you cope financially if an illness or injury prevented you from earning your living at any time during your working life?

Income protection ensures that you do not have a shortfall in cash flow in the event of illness, injury or disability. It is especially important to consider this if you have others who depend on you for financial support. The Income Continuation Benefit is a market-leading product that will pay your monthly income if you are unable to work due to being ill or disabled.

Proceeds are free from Tax.

* Immediate upgrade to 100% of pre-disability income when you become permanently disabled.
* Cover of up to 100% of your income on temporary disability.
* Protection and certainty for you and your family through the Income Continuation Benefit Extender.
* Automatic Sickness Underpin.
* You may choose cover up to age 70.
* Cover for your other Discovery product premiums.
* Boost your Discovery Card partner store cash backs by up to 50%.


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