Source: Kristia Steyn – Discovery
Child SIB covers a unique need
Medical scheme cover, disability cover and severe illness cover meet different needs. A medical scheme can cover the medical expenses associated with a child’s illness, but the scheme is unlikely to cover all of the additional associated expenses. Severe illness cover can make up the shortfall.
Some of the expenses that are likely to arise include:
– Out-of-pocket medical costs not covered by the medical scheme.
– Rehabilitation and physiotherapy costs.
– Special schooling arrangements to ensure that the child is able to continue with their education.
– The cost of making structural changes to a home.
– The costs of travel and accommodation if a child needs to be treated away from home.
– Additional food costs to ensure a nourishing diet.
Furthermore, if a client elects to take time off work after using up their leave, or if they are self-employed, they may experience a reduction in income as well.
Discovery’s Child Protector Benefit
Youngest entry age in the market
Statistics show that the incidence of child severe illness is highest in the first year of life.
Competitors only offer buy-up severe illness benefits after this high-risk period, while Discovery’s Child Protector benefit is available from birth.
Please note the following:
– In the first six month, only accidental trauma is covered.
– Any condition manifesting within the first six months of birth will be excluded going forward.
Appropriate, comprehensive cover
The Child Protector Benefit is offers a tailored suite of benefits designed to better meet the needs of children, providing a 100% payment for all cancer conditions and including protection for a comprehensive list of trauma events.
The benefit includes the most comprehensive multiple claims facility in the market, where related illnesses will be covered regardless of severity. Furthermore, the total amount that a client can receive through the Child Protector Benefit is uncapped.
Global Treatment Benefit
Automatically included on Classic and Purple Life Plans, the Global Treatment Benefit provides additional funding so that a child can receive treatment at the best medical facilities in the world.
Simple underwriting
The application process is simple, with only a health declaration required.
Access to cover
Minimum cover
For a premium of only R27*, clients can access R80 000 (including the Cover and Financial Integrator Fund) of this market-leading benefit to protect a new-born child. Even a minimum amount of cover can prove invaluable if a child were to suffer from a critical illness or trauma event.
Limited offer: Child Protector Benefit and Global Education Protector
To encourage all clients to have holistic family protection in place, clients can get a guaranteed minimum of up to 50% of their children’s tertiary tuition fees funded through the University Funder Benefit, when they take out both the Global Education Protector and Child Protector Benefits (with a sum assured of at least R1 million).
This offer is available on Classic, Essential and Purple Life Plans when adding or upgrading to the latest version of the Global Education Protector and Child Protector Benefits.
The below gives an indication of the premium you can expect to pay for R1 million cover on the Child Protector Benefit:
Child Age & Premium*
0 – R290
1 – R290
2 – R255
3 – R240
4 – R227
5 – R214
6 – R204
7 – R198
8 – R193
9 – R191
10 – R188
11 – R187
12 – R187
13 – R187
14 – R192
15 – R201
*Assumptions: Accelerator funding pattern, Comprehensive Health Integration, Comprehensive Health Plan.
