Limited Disability Income

What Is It?

A monthly income benefit for a maximum of 24 months if the life insured is temporarily or permanently occupationally disabled or impaired.

Cover Amount

A maximum of up to R100 000 per month subject limited to 100% of previous earnings reduced by any current earnings. An additional once-off payment equivalent to the Benefit Amount specified will be paid out in the event of death, while in claim.

Who Can Apply?

Ages 19 to 60 at next birthday Individuals or multiple people on one policy

Who Can Claim

If you become temporarily or permanently disabled or impaired in terms of the events covered (cover for total and partial impairment is included).

Deferred Period

You can choose between 1 and 3month.

Important Points

The premium is guaranteed for 10 years.

You must notify Hollard Life if you:

  • change occupations
  • take on more than one occupation
  • there’s been a change in the type of work you’re doing.
  • The premium for all disability and impairment income benefits will be waived once the claim is admitted.
  • The Guaranteed Insurability Benefit allows for an increase in the benefit amount on the policy anniversary and will be increased with no additional underwriting.
  • The benefit payment term is a maximum of 24 months.
  • Must have been gainfully employed for no less than
  • 6 months before becoming disabled.
Payment of limited disability income benefit

Hollard Life will pay for a driver if it permits the policyholder to do their job, based on one of the following requirements:

  • Travel in a vehicle makes up over 25% of the policyholder’s duties;
  • Travel in a vehicle is an essential part of the policyholder’s occupation.

If the policyholder is self-employed, Hollard life may choose to pay the salary of any person performing the policyholder’s duties in their absence.

Exclusions

If the disability or impairment was as a result of self-inflicted injuries.