Disability Cover

These are:

• Selektor Disability Cover - This product provides monthly income benefits during long-term occupational disablement.
• Lump Sum Disability - A disability benefit that is paid upfront to replace lost future income in the event of total and permanent occupational disability.
•  Synergy - This product provides a short-term monthly income during occupational disablement.
•  Lump Sum and Synergy Combination - A complementary package that provides for short-term and permanent disability.
•  Critical Incidents - This solution provides lifestyle adjustment cover to members that survive a health shock. This means, that should you suffer from a heart attack, stroke or the loss of a limb, members will be provided with the necessary funds to ensure that their lifestyle is in a similar position to what it was prior to illness, or attack or event.

 Additional benefits may be added to the above packages. An example would be dismemberment insurance which provides cover against injury that results in the loss of a limb, eyesight or hearing due to accidental causes.

Selektor

Selektor is a Permanent Health Insurance (PHI) product, which provides a monthly income during occupational disablement. Monthly income benefits provide the best solution for long-term disability.

• Key features
  
  Monthly salary replacement until normal retirement, death or readiness for a return to work.
• A top-up on income earned during partial return to productivity.
• A small lump sum paid to a nominated beneficiary on the death of the claimant provides cash in a time of need.
• Comprehensive disability benefits coupled with excellent claims services to meet your group’s needs.
• Benefits may be based on pensionable salary, total cost to company or a similar earnings definition that matches the client’s current remuneration structure.
• The employer is able to choose from a range of waiver options to ensure that the member continues to receive adequate benefits during disablement. These options include a medical scheme premium waiver, as well as employer and employee contribution waivers for retirement funding.
• The employer may also choose an escalation option for disability income claimants that meets their specific needs and is affordable, e.g. fixed escalations of 3% or 5%; or escalation in line with inflation (with or without a cap on the level of escalation).

Selektor Options

• Selektor Disability Income – suited to companies that prefer a traditional approach to employee health issues, as it provides regular disability income over the long term.

Lump Sum Disability

This disability benefit is paid upfront to replace lost future income in the event of total and permanent occupational disability. It is more difficult to qualify for a lump sum benefit than for disability income, as the claimant’s occupational disability needs to be permanent.

Lump Sum Disability could be added as an enhancement to the group life assurance cover or form a stand-alone disability arrangement.

We also offer a partial benefit of 50% of the full benefit. Should the member not qualify for a benefit under the regular definition of disability, the claim is assessed a second time against a more lenient definition of disability. This allows more claims to be successful.

Synergy

Synergy provides a short-term monthly income during occupational disablement.

The main value in providing short-term income, is when sick leave benefits are exhausted before the employee has sufficiently recovered to commence work. It is relatively easy to claim, and monthly benefits are generous. However, Synergy is paid for a limited period only. The 24 monthly payments may be used for a continuous period of disability or for several shorter episodes of ill health. The waiting period can be as short as 7 days for accidents and 14 days for illness.

Lump Sum and Synergy Combination

Consider combining Synergy with a Lump Sum Disability arrangement. These products complement each other and provide for a wider range of needs by providing an income replacement during short-term disability and permanent disability. However, for the most comprehensive cover, Selektor Disability Income or Selektor Managed Disability should be considered.

Critical Incidents

The Critical Incidents solution provides compelling lifestyle adjustment cover to members that survive a health shock.

Lifestyle adjustment cover means, that should members suffer from a heart attack, stroke or the loss of a limb, they will be provided with the necessary funds to ensure that their lifestyle is in a similar position to what it was prior to illness, or attack or event.

This solution covers a wide range of illnesses, injuries and interventions. It may be structured as an accelerator to life cover or as a stand-alone benefit that allows the payment of multiple benefits for unrelated conditions. The solution offers 3 levels of coverage:

• Core level that provides for the major illnesses.
• Comprehensive option that covers a wider range of health conditions.
• Extensive option that covers additional milder conditions.

Additional Benefits

As with Group Life Assurance you have the option to select additional benefits for your employees. These include:

Accident Disability

In some workplaces there is a relatively high accident risk, and employers may wish to provide accidental disability cover in order to give the employees and their families peace-of-mind.

Spouse’s Disability Cover

If a spouse is disabled there are a number of expenses that will be incurred as a result of the disablement. These could include medical costs and the loss of a second income. Rather than providing separate cover for themselves, spouses can also benefit from the group arrangements through Spouse’s Disability Cover.

Dismemberment

Dismemberment Insurance provides cover against injury that results in the loss (or loss of use) of a limb, eyesight or hearing due to accidental causes. The level of the benefit is dependent on the nature of the loss and is determined in accordance with a defined dismemberment scale.