Why Discovery by Chris Andrews
Posted in Broker In Your Pocket on Jun 01, 2023
Since joining the financial planning industry 33 years ago, the landscape has almost changed beyond recognition. Other than a differentiation in price, most products resembled each other.
As a disruptor first in the healthcare space and then with their brilliant Vitality scheme, Discovery provided consumers with choice. All of a sudden, the actuarial model was turned on its head with the introduction of ‘behavioural change’ which offered an incentive that would impact pricing and benefits across all Discovery products. The idea that physical and financial wellbeing could be influenced with a programme of financial rewards was completely anathema to the industry.
In addition to the unique financial benefits that full life insurance integration offers its customers with both Discovery Health and Vitality, the risk benefits are far superior to those offered by competitors. The scope of cover provided by the severe illness benefit and the income continuation benefits by way of example, is wide and extremely comprehensive.
Unique features including the global treatment benefit as well as the early cancer benefit together with severe illness and the comprehensive cover that comes with income continuation make the cover provided by Discovery my own and many other people’s first and only choice of insurer.
Looking at the integration and linking of life cover together with a retirement annuity, the after-tax income that can be achieved on retirement is incomparable to any other product on the market. This is due to Discovery’s unique ‘life plan optimiser’ benefit, in which Discovery will convert so called ‘un-needed’ life cover into tax free income each year during retirement, which in turn is added to one’s pension. This formula provides a substantial boost to the consumer’s income and is another completely unique feature of the Discovery offering.
Across the entire range of its product offering, Discovery is far from a provider of ‘more of the same’. The company offers world class cover, together with the shared value from its model of integrating its products across physical and financial health insurance.
At 1618, we would urge consumers at least to investigate and compare Discovery’s products with its competitors.
Every prospective client I meet is without fail satisfied with the peace of mind they achieve by implementing their financial planning through investing in the Discovery range of products.