Disability Plus

What Is It?

Disability Plus covers the life insured for specific events of a permanent nature and the inability to work. The benefit also includes an income benefit for temporary conditions.

Cover Amount

From R100 000 up to R10 000 000

Who Can Apply?

Ages 19 to 60 at next birthday Individuals or multiple people

Important Notes
  • The premium is guaranteed for 10 years.
  • The premium for Disability Plus will be waived from the end of the deferred period until income benefit payments cease.
  • The benefit can be paid out as either a lump sum or in the form of monthly income if the policyholder is unable to perform 3 or more daily activities.

You must notify Hollard if you:

  • change occupations 1
  • take on more than one occupation there’s been a change in the type of work you’re doing.
When does it payout?
  • Monthly Income Benefit: while the life insured is disabled and unable to work, or meets the definition of an impairment event, the amount payable as an income is 1% of the Benefit Amount, subject to a maximum of a 100% of Previous Earnings and any minimum payment periods.
  • Lump Sum Benefit: this will become payable after the expiry of the Survival Period. Where a partial lump sum payment is made, the Benefit Amount will be reduced by the amount paid, and the premium will be reduced accordingly. The remaining Benefit Amount will be available for 1 future claims.
  • The benefit becomes payable when the life insured meets the definition of Occupational Disability or Impairment, i.e., inability of the Life Insured, due to a sickness, injury, disease, illness or a surgical operation, to perform their occupation, provided the Life Insured had been gainfully employed before the onset of the disability.

  • The maximum payment period is 24 months for the Income benefit.

Deferred period

  • 1 month and 3 months

Survival Period

  • A 3-month period will be imposed before a Disability Plus claim is admitted for the lump sum.

Exclusion

Self-inflicted injuries