3 minute read
29 Dec 2020
11:06 am

The life-long value of short-term insurance cover


A Discovery Insure Plan for every life stage

Chances are, what you most need from insurance cover today may be different from those around you. Why? Personal circumstances and life stages. Picture: supplied.

Chances are, what you most need from insurance cover today may be different from those around you. Why? Personal circumstances and life stages.

A Discovery Insure Plan for every life stage

  1. The young adult (early 20s):

A generation that’s typically ‘on-the-move’, young adults want insurance cover that’s comprehensive while convenient too. Digitally-savvy, they also favour technologically advanced features and processes that are simple to access and follow – right at their fingertips.

Discovery Insure ‘s Young Adult Benefit for drivers under the age of 26 is geared to encourage improved driving behaviour through an incentivised rewards programme – Vitality Drive,” says Discovery certified Platinum Prestige Financial Adviser, Neil le Roux.

Rewards on the Vitality Drive programme, like earning up to 50% cash back on fuel spend at  BP or Shell garages, up to 50% cash back on Gautrain spend, and up to 25% off Uber, Road Trip or Scooter Angels services, appeal to young adults,” he adds.

  1. The price sensitive adult (mid to late 20s):

At this stage, young adults are looking to create more established futures. This is a time to cement chosen career paths and begin settling in their personal lives.

“A person begins to favour the kind of features and benefits that save them time and money. With a solid protective offering, the Discovery Insure Essential Plan is thus an ideal fit,” says le Roux.

“Excess flexibility, screen protectors, car hire, emergency roadside assistance, home assist and Xpress repairs, retail value boosters and even legal support benefits contribute towards value-added, comprehensive cover for the assets that price sensitive adults tend to favour.”

  1. The young family (the 30s):

At this stage, careers are more established or settled, and individuals may begin to shift their focus to starting a family of their own.

“Young families thus want comprehensive cover that takes care of their car and household insurance needs so that they can focus on their family. The Discovery Insure Classic Plan provides extensive cover that brings with it peace of mind for just this purpose,” says le Roux.

“In addition to state-of-the-art safety features, young families can benefit from up to 25% off child car seats, up to 20% discount on vehicle maintenance, and additional warranty cover for the mechanical breakdown and electrical failure of their vehicles,” he adds further.

  1. The more established family with young drivers (the 40s and 50s):

“For families that are well settled and preparing for retirement, the Discovery Insure Classic Plan is also a good fit,” suggests le Roux. “Plans offer protective cover, taking care of any unforeseen expenses.”

Parents with adult children who are new drivers can get additional peace of mind with no excess benefits, a write-off accelerator feature, retail value boosters and embedded car hire or Uber trip discounts. The Insure Funder Account is a useful feature to build funds to cover vehicle excess, should a claim be processed, as well as the ability to fund up to 100% of spend on new tyres at Tiger Wheel & Tyre.

  1. The high net-worth individual (40s+):

This individual is an established executive with career goals and ambitions. He or she is entirely self-sufficient, financially stable, goal-orientated and ambitious; and looking for personalised cover and service.

“Discovery Insure offers the Purple Plan which provides enhanced benefit limits, cover for all risks, a dedicated service executive, flexible portable possessions cover and exclusive experiences, in addition to state-of-the-art safety features and Vitality Drive rewards. Luxury touches built in to this plan include a cellphone upgrade benefit, upgraded car hire selections, and multi-vehicle benefit cover,” concludes le Roux.