Covering illnesses and injuries that prevent you from working for up to 24 months
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Protect your greatest asset
We specialise in Income Protection because we believe it is the most important cover to have in place. Your income provides for your lifestyle and our cover will pay you a salary should you be unable to work. While we cover salaried individuals, we focus on the self-employed because, without company benefits like sick leave pay, they need our cover the most.
We believe that the best way to design disability cover is to first put in place temporary disability cover, then permanent disability cover so you can enjoy a combination of both benefits. Temporary disability cover ensures you are protected against temporary disability and during the permanent disability cover waiting period. It provides the cash flow necessary to protect all other elements of your insurance and savings portfolio, and helps you to maintain your lifestyle until you are able to return to work. Permanent disability should then be addressed through a combination of a once-off lump sum pay-out and monthly income replacement benefits.
As specialists in income protection, we provide:
- 100% cover of your income, a choice of waiting periods and benefit terms, and fast pay-outs
- Expert underwriting and accurate risk assessment so you only get underwritten once (we don’t underwrite at claim stage)
- Cover that you can increase and freeze to suit a volatile income and a changing lifestyle
- Comprehensive claim criteria so you receive the highest possible pay-out when you claim
- Optional benefits that cover your spouse, dependents, and unexpected additional expenses
Business Person Elect
Temporary Disability cover
Temporary Income Protector (TIP)
For individuals
- A temporary disability can have a permanent impact on your life. Therefore, TIP is compulsory on every BPE policy.
- Provides a monthly income of up to R150 000 per month for up to 24 months when you are unable to work due to temporary injury or illness.
Business Overhead Protector (BOP)
To cover business expenses
- Optional but essential benefit for business owners.
- Covers a list of business expenses up to R150 000 per month for up to 24 months should you become unable to work.
Key Man Insurance
Allows a business to cover one of its key staff members
- Will compensate the business for the losses that would occur if something happened to the insured individual.
- TIP only, limited to R50 000 cover with a benefit term of 6 months or shorter and a waiting period of 30 days or longer.
Extended / Permanent Disability Cover
Covering illnesses or injuries that prevent you from working for longer than 24 months, or from which you will not recover
Extended Income Protector (EIP)
- Optional benefit designed to work in conjunction with TIP.
- Pays out for permanent or long-term temporary disability.
- Monthly payments till retirement or death, as per policy terms.
- Cover is available up to R150 000 per month.
- Suitable for income replacement to ensure continuity of lifestyle.
Lump Sum Disability (LS)
- Optional benefit designed to work in conjunction with TIP.
- Pays out for permanent disability only.
- Once-off lump sum of up to R7 500 000 in the event of a permanent disability.
- Suitable for once-off events (such as major lifestyle changes or debt repayments) or business assurance or investment purposes.
Why a combination is best
A LS benefit is not suitable for replacing your future income stream as it leaves you exposed to investment and longevity risks. EIP, in contrast, pays out a monthly income ensuring continuity of income over time, in line with inflation. This means that the risks are held by the Insurer rather than being your concern. A LS benefit should be used for once-off events such as repaying debts, business assurance, or making necessary lifestyle changes. To ensure complete permanent income protection, these products should be used in conjunction rather than as replacements for each other.
Optional Benefits
We believe income protection should start with 100% cover of your income need, with benefits that protect you against the major risks to your income – temporary and permanent disability. Once that cover is in place, then you can consider additional benefits.
Our additional benefits have been designed to support our temporary and permanent income protection offerings because we understand there are events beyond disability that impact your ability to earn an income. Because we have such a strong disability cover base, we are able to offer additional benefits that truly contribute to your income protection cover:
- Dread Disease Enhancer
- Hospitalisation Enhancer
- Future Income Protector
All Business Person Elect policies automatically include: Benefit Escalations, Change in Circumstances Option, Childbirth Benefit, Continuation Option, Driver’s Extension, Freeze Benefit and Immediate Cover.
