Why choose a Discovery Life Plan?
Discovery offers you and your family flexible, personalised financial protection at a cost-effective premium. We reward you for living a healthy life and for managing your finances. Here's how:
Affordable comprehensive cover
Your Life Plan is customisable to suit your lifestyle, offering comprehensive cover for you and your family from R200* per month.
Up to 48% premium discount
Simply integrate your current Discovery products, such as your Discovery Health administered medical aid, Vitality, and Discovery Bank, with your Discovery Life insurance to receive an upfront and ongoing premium discount of up to 48%.
PayBacks of up to 100%
The Double PayBack benefit gives you up to 100% of your premiums back in cash when you manage your health and wellness through the Vitality programme.
Boost your retirement funding
The Income Continuation Fund** converts your health and wellness management through Vitality before retirement into significant value that can be used to supplement your retirement funding.
Supplement your retirement funding
Add the Cash Conversion Benefit*** which pays out up to 100% of your Life Fund in 10 equal yearly instalments from the age of 65, tax-free, without reducing your cover. This provides unmatched value in supplementing your retirement funding.
Access your Life Plan details on your phone
Stay updated and view your Life Plan details conveniently from your phone.
*Premiums are risk profile dependent
** The Income Continuation Fund is not an investment product. It is a risk-based approach with no lapse or surrender value before the payments are due.
***The Cash Conversion benefit is a risk benefit, not an investment product and therefore the benefit has no lapse or surrender value before the payouts become due
Life insurance from Discovery
While most other insurers tend to offer a one-size-fits-all approach to life insurance, at Discovery we recognise that your needs and lifestyle are unique. That is why we offer 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. This comprehensive offering ensures that no matter which stage of life you find yourself in, you will be covered, rewarded, and financially secure.
One of the biggest advantages of having a life insurance policy from Discovery is having access to a benefit structure that rewards you throughout your policy term for managing your health and finances. Discovery is focused on the needs of each individual client and on providing tailored financial solutions, whatever stage of life they are in. Select a product with a full range of comprehensive and customisable benefits that transform throughout your life to remain relevant to your changing needs.
Core life insurance benefits
Severe Illness Benefit
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.
Capital Disability Benefit
Discovery's Core and Comprehensive Plus Capital Disability Benefits pay out a lump sum if you become disabled. The Lifetime Capital Disability Benefit provides you with additional payouts upfront and over time to help you access cutting-edge medical technology to help minimise the impact of the disability on your lifestyle.
Income Continuation Benefit
Discovery's Income Continuation Benefit is a market-leading product that protects you for whole-of-life and will pay your monthly income if you are unable to work due to sickness or injury, while also allowing you to build up a significant fund to receive additional income in retirement by leading a healthy lifestyle.
Benefits of integration
With Discovery, you get significant value by linking your Life Plan to other Discovery products through integration. By using the information we collect across the Discovery businesses, we have a better understanding of the steps you take to improve your fitness and to manage your health and finances. This allows for significant upfront and ongoing premium discounts, a portion of your premiums back through PayBacks, and reduced premiums in retirement.
Life Cover & Premium Calculator
Calculate how much life insurance you need and get an estimated premium based on your unique circumstances.
Recommended Coverage Breakdown
Life Cover Included
Lump sum payment to beneficiaries on death
Disability Cover
Income replacement if you can't work
Severe Illness
Lump sum on diagnosis of critical illness
TCs apply.
✨ PayBack Benefit: Get up to 100% of your premiums back if you don't claim, plus earn additional cash back through Vitality rewards.
Discovery Life PayBack Benefits
Get Your Money Back
If you don't claim, Discovery Life pays back up to 100% of your premiums
Vitality Rewards
Earn up to 25% premium cash back through healthy living
No Claims Period
PayBack accumulates over claim-free periods
Flexible Options
Choose your PayBack percentage and benefit structure
Creating a sustainable post-retirement asset
Risk insurance can become expensive with age, and the need for life insurance often extends beyond 65. Discovery Life's Paid-up Benefit is a cost-effective way to pre-fund post-retirement life insurance so your cover stays affordable.
Paid Up
Stop paying premiums for qualifying benefits in retirement but retain full cover.
Lock In
Available with the Accelerater plan — stops automatic annual premium increases.
Vitality Premium Leveller
Uses your past and future Vitality engagement to reduce premium increases into retirement.
With the Paid-up benefit, clients stop paying premiums for whole-of-life risk benefits at the later of age 65 or 20 years after benefit inception. Benefits continue at the same level for whole-of-life. For clients selecting the Paid-up benefit after age 45, qualifying premiums cease after 20 years, but cover and premium adjustments cease once the principal life turns 65 — ensuring affordability after 65.
The Child Protector Benefit
Protect your children from the impact of severe illnesses, disabilities and traumas. 1 in 10 children are expected to suffer a life-changing event before age 18. Discovery Life's Child Protector Benefit offers world-leading protection with access to advanced care locally and globally.
Market-leading protection
- • Severe illness payouts: 5% to 100% (tailored for childhood-specific conditions; 100% for all childhood cancers)
- • Trauma events: burns, bone fractures, ICU admissions, sports injuries
- • Funeral benefit: up to R30,000 (depending on age at death)
- • Most comprehensive multiple claims facility
Globally relevant
- • Up to 2.5 times the insured amount on a Purple Life Plan (1.8 times on Classic) for advanced medical care globally
- • Cancer Exome Sequencing Benefit: up to R35,000 on a Purple Plan
Highest cover
The Child Protector Benefit provides cover up to R6.4 million, one of the highest in the world, to facilitate access to appropriate treatment — including at international centres of excellence.
Features include 100% payouts for all childhood cancers, comprehensive sports disability and trauma cover, and a built-in funeral benefit.
Our Life Insurance Solutions
Life Cover
Comprehensive death benefit protection to ensure your family can maintain their lifestyle, pay off debts, and secure their financial future when you're no longer there to provide for them.
Disability Cover
Protect your income if you become unable to work due to illness or injury. Provides monthly payments to help maintain your lifestyle and meet financial commitments during disability.
Severe Illness Cover
Provides a lump sum benefit on diagnosis of specified severe illnesses like cancer, heart attack, or stroke. Helps cover medical costs and loss of income during treatment and recovery.
Income Protection
Monthly income replacement if you can't work due to illness or injury. Ensures you can continue meeting your financial obligations even when unable to earn an income.
Frequently Asked Questions
Discovery Life Limited, registration number 1966/003901/06, is a licensed life insurer, an authorised financial services and registered credit provider, NCR registration number NCRCP3555.
Secure Your Family's Future Today
Don't leave your family's financial security to chance. Get a comprehensive life insurance quote with Discovery Life PayBack benefits.