Add disability cover to your policy

Get more protection for your family

Posted  April 27, 2012

Insuring with 1Lifedirect is about more than just life insurance, it is about giving your family the financial resources they need to survive any eventuality, be it death, disability or illness. As a 1Lifedirect policy holder you have the option of adding up to R4 million disablement cover to your policy. Two options are available to you: Occupation-based disablement and Event-based disablement.

Occupation-based DisablementOccupation-based disablement will pay out a lump sum of between R200 000 up to R4 million, if you are declared totally and permanently disabled and cannot work, either at your normal job or at any other job that you might have the qualifications, experience, expertise and knowledge to take on.

The benefit includes:

  1. A Guaranteed Assurability option: on your third policy anniversary or if your lifestyle changes you can increase your cover amount with limited underwriting. Life changes include marriage, the purchase of a house, a new baby etc.
  2. Disablement Premium Waiver option: This option will pay the premiums of your life insurance and dread disease policy for you for up to 5 years if you become permanently disabled, and you are the premium payer.

Event-based DisablementUnder Event-based disablement, 1Lifedirect will provide a payout if you are ever disabled by one or more of the injuries and illnesses listed in your Policy Book. Event-based disablement will pay out a percentage of your cover amount (from R50 000 up to R199 999) depending on the kind of disability.
Illness and injuries covered by Event-based disablement include total:

  • Loss of or loss of use of limbs
  • Blindness
  • Deafness
  • Loss of speech
  • Permanent confinement
  • Major burns
  • Major head trauma
  • Spinal debility

It is important to note that any claim reduces your cover amount. Additional claims can be made but obviously at some stage your funds will be exhausted and cover will cease. Event-based disablement includes a Guaranteed Assurability option as well as the Disablement Premium Waiver option.

ExclusionsAs for life insurance, exclusions apply to your disablement cover. An exclusion is a provision in your policy document that details the circumstances/events under which 1Lifedirect is entitled to reject your claim.
Your Policy Book contains general exclusions but be sure to check your Policy Schedule for any specific exclusions that would apply only to you. Some general exclusions include but are not limited to:

  • Participation in war, riots or acts of terrorism
  • Participation in a criminal activity/wilfully breaking the law
  • Self- inflicted injury
  • Non-disclosure of information when making your life insurance application
  • Radioactivity and nuclear explosions
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