Discovery product updates for 2021

Discovery Product updates for 2021

Below are the Discovery Product updates for 2021, which include some offers- so take note.

Discovery Product updates for 2021

Discovery Health Medical Scheme updates

(link to videos page explaining the Discovery Health updates for 2021)

Contribution increase strategy for 2021

Contribution increases across all Discovery Health Medical Scheme plans will be frozen for the first six months of 2021, and contributions will increase on 1 July 2021. The contribution increase will be announced during the second quarter of 2021. IMPORTANT: these increases have been announced and will be 5.9% across all plans wef 1 July 2021.

Introducing Connected Care

Discovery Health has consolidated and enhanced the digital healthcare experience through Connected Care, which lets members access enhanced benefits and services for all levels of home-based healthcare.

Connected Care transforms healthcare by linking the latest in diagnostic point-of-care technology, e-scripting and medicine delivery – all accessible from the comfort of a member’s home. For members living with chronic conditions, Connected Care enables digital healthcare and management through access to personalised coaching, consultations and remote monitoring devices. Connected Care for acute care at home provides qualifying members with clinically appropriate and patient-centric hospital-level care in their homes as a substitute for acute hospital care.

You would need to buy a TytoHome kit.

Further enhancements in 2021

Members of Discovery Health Medical Scheme will have access to these enhanced benefits:

  • Consolidated and enhanced support for mental wellbeing

    • Access to new benefits and services to maintain good mental health following a major depressive episode
    • A Relapse Prevention Programme for members who are at risk of relapse or recurrence of a major depressive episode
    • Enhanced support for the transition from in-facility to out-patient primary healthcare for the management of major depression
    • For qualifying members, free access to Vitality Active Rewards Personal Health Goals designed to help members proactively manage and improve their health.
  • The option to manage contributions and claims on any Discovery Health Medical Scheme plan in accordance with Shariah principles.
  • Infertility and Assisted Reproductive Therapy benefit to support families affected by infertility.

Please see this  highlights video

Discovery Product updates for 2021

Discovery Life is celebrating 20 years

2020 marks Discovery Life’s 20th anniversary. Our latest additions and enhancements include a new business and products that expand our capabilities in providing comprehensive and highly specialised fiduciary services and full protection for our clients.

We have also focused on ensuring simplified, convenient and efficient new business processes through digital innovations. Together with these new business initiatives, we have launched a suite of limited offers to celebrate our 20th anniversary by enhancing the value that we offer to both new clients and our loyal existing clients.

Introducing holistic estate planning from Discovery Life

Discovery Wills and Trust Services is a new business that will provide you with holistic estate planning services. It offers a broad range of high-quality fiduciary services that will assist our clients and their families to plan appropriately in order to leave a healthy legacy. This new business will provide quality expertise and peace of mind.

We have also introduced the Discovery Estate Preserver, which ensures that your clients’ estate is protected from the legal costs and administration associated with winding up their estate. The Discovery Estate Preserver also includes additional features to help cover key expenses, and allows clients to earn up to 20% of their premiums back every five-years in PayBacks.

Revolutionising the new business process with Virtual Underwriting

Our latest technological innovation aims to make the underwriting process more efficient for you and your clients. Clients can now do their medical underwriting by attending a virtual video consultation with an experienced underwriter from the comfort of their own home. This enhanced process allows for quicker activation and a more streamlined and digital new business process. Virtual Underwriting will reduce the time spent by advisers on the underwriting process and provide clients with a seamless and comfortable policy activation experience.

More value for clients through our 20-year anniversary limited offers

Your clients can benefit from these fantastic offers:

  • The 20% Loyalty Discount offer
  • The PayBack +20% offer
  • The Auto Buy-up Cash Conversion (50%/3 year) offer

These limited offers are currently available and will run until 15 December 2020.

For more on the special offers.

Discovery product updates for 2021

Invest September 2020 launch offerings

COVID-19 has had an unprecedented impact on investment markets globally. It has transformed the way business is done, with a new emphasis on digital technology. With our September 2020 launch, we’re unlocking new opportunities and improving our digital offering to support and grow your business further.

Sophisticated investing with the new PrimeFlex

Discovery PrimeFlex encapsulates simplicity and efficiency. Choose from top performing, diversified portfolios of Discovery funds, carefully selected to meet any risk profile, all while enjoying one of the lowest admin fees in the market. PrimeFlex clients who are members of Vitality Active Rewards, either through Vitality or Vitality Money, will qualify for Discovery Miles during the course of their investment1.

PrimeFlex opens for new business on 16 November 2020.

Investment opportunities and current offers

For a limited time, clients can get access to our highest current offer boosts to date. We’re also opening a new tranche of the Discovery Capital 200+.

Current offers:

  • A boost of up to 36% on lump-sum Endowments
  • A boost of up to 29% to clients’ lump-sum retirement savings
  • Enhanced boosts to extra contributions into lump-sum retirement savings
  • Discovery Capital 200+ (December 2020 tranche)

AI Quote

With Invest AI Quote, you can easily get an optimised, comparable investment quote from a competitor statement. Now, you can get a new business quote in as little as 30 seconds with Quick Quote. (ask your advisor)

AI Quote now supports:

  • Lump-sum Retirement Annuities
  • Preservers
  • Living Annuities
  • Lump-sum Endowments
  • Lump-sum Flexible Investments
  • Lump-sum Global Endowments (available for quick quotes only)

Discovery product updates for 2021

Discovery Bank updates 

With our shared-value banking approach, our success is tied to our clients’ financial wellbeing. We create value when clients smartly manage key financial behaviours that strengthen their finances. We share this value with clients through benefits, enhanced rewards and Dynamic Interest Rates.

The Banking Value Calculator

We’ve developed the Discovery Bank Banking Value Calculator. This tool uses a client’s unique banking and spend behaviour to prepare a personalised comparison of what they get out of their current banking products (in rewards and interest) and what they put in (fees) versus comparable Discovery Bank products.

The Banking Value Calculator will be available for download soon. (You would need to access via your financial Advisor).

A new enhanced Vitality Money experience on the banking app

Vitality Money helps clients measure how they manage their money and rewards them when they actively make improvements. We’ve added even more features and tools to help clients better understand the steps they need to take to improve their behaviours and get rewarded.

The new easy-to-use icons and dashboards give clients a snapshot of their behaviours and rewards, with shortcuts to these sections.

Vitality Money is now fully integrated with the Discovery Bank app, and clients can expect an even more intuitive and rewarding experience.

Discovery product updates for 2021

Discovery Vitality updates

(link to video explaining discovery vitality updates)

In 2021, Vitality will be introducing exciting new initiatives to help members get healthy and rewarded. The Vitality programme will be enhanced with new fitness benefits and more opportunities to earn Vitality points. Plus, Discovery Miles are now more valuable and versatile than ever before.

Recognising 2019 Vitality engagement to motivate members

Vitality members will receive Vitality points for screenings and physical activities done in 2019, to top up their 2020 Vitality points where applicable, by the end of October 2020.

More options to get active and eat well

In 2021, Vitality members can track and access discounted workouts at over 300 digital and physical Vitality-enabled fitness facilities. Plus, members can join the Team Vitality community for free on Strava and get rewarded for their achievements. Fuel up with the Vitality HealthyDining benefit, which will include fresh and frozen meal kits and ready-made meals at exciting partners.

Gear up with Nike

With the new Vitality Active Gear benefit, members can get upfront discounts of up to 75% on sports gear and equipment. Plus, Vitality has partnered with Nike to make sport a daily habit for everyone. In 2021, Vitality members can access Vitality rewards at Nike Stores.

Discovery Miles – more valuable than cash

Discovery Miles are now more valuable and versatile than ever before. Qualifying Discovery Bank clients with Vitality Money can earn up to 1 Discovery Mile for every Vitality Health fitness point or Vitality Drive points they earn every week. Plus, members can spend Discovery Miles on new travel, retail and lifestyle partners, get an up to 20% discount on online purchases, buy prepaid products and pay their contact in Discovery Miles.

Vitality members can travel again

Vitality’s travel platform is now open for holiday accommodation and car hire bookings, with international and domestic flight bookings opening later in October. Vitality members will get an upfront discount of up to 75% on domestic flights PLUS access to bookings 72 hours before anyone else.

All qualifying Discovery Bank clients will enjoy their maximum Vitality Money discounts on domestic and regional flights booked until the end of November, based on their Vitality Money status. Plus, Discovery Bank Black and Purple cardholders can skip the queues with the Discovery Bank Priority Fast Track service.

Vitality special offer

Until 1 January 2021, clients can get Vitality free for three months and only start paying premiums from month four. To make it even simpler, clients can now join Vitality in under 60 seconds with our new online platform.

Taken from the Discovery publication (eDiscoverer 01.10.2020)

Discovery product updates for 2021 was last modified: May 14th, 2021 by Kenny Williamson

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