LIFESTYLE
ADJUSTMENT
COVER
ILLNESS COVER
SEVERE ILLNESS (CORE) PLUS BENEFIT
SEVERE ILLNESS (CORE) BENEFIT
SEVERE ILLNESS (COMPREHENSIVE) PLUS BENEFIT
SEVERE ILLNESS (COMPREHENSIVE) BENEFIT
EXTENSIVE ILLNESS PLUS BENEFIT
EXTENSIVE ILLNESS BENEFIT
CHILD SEVERE ILLNESS BENEFIT
why?
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To provide cover for the costs of making adjustments to a client’s lifestyle, as a result of surviving a severe illness,
such as:
- Employing a child minder, nurse or housekeeper.
- Modifications to a house or car.
To provide peace of mind that medical shortfalls can be covered.
To provide extensive cover against most illnesses.
To provide cover for both clients and their children.
how…
These benefits provide cover for specified severe
illnesses by paying a lump sum in the event of
diagnosis or occurrence of such illnesses as defined
in the benefit Terms and Conditions.
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GREENLIGHT Severe Illness (Core) Benefit
covers the most common severe illnesses
at 100% of the Cover Amount – these being
cancer, heart attacks, stroke and coronary
artery bypass grafts.
GREENLIGHT Severe Illness (Comprehensive)
Benefit covers the Core events plus a
comprehensive list of illnesses, at 100% of the
Cover Amount
GREENLIGHT Extensive Illness Benefit covers all
Severe Illness (Comprehensive) Benefit events
at 100% of the Cover Amount and a number of
mild illnesses at 30% of the Cover Amount.
Child Severe Illness Benefit covers a number of
child-related illnesses.
Plus benefits are stand-alone benefits. The
Cover Amount of these benefits will not reduce
when there is a claim. Plus benefits are available
for the Severe Illness (Core), Severe Illness
(Comprehensive) and Extensive Illness Benefits.
this is how
GREENLIGHT sees it
GREENLIGHT pays what it promises, no
matter how severe the condition! This
means you will be paid 100% for cancer,
heart attack, stroke and coronary artery
bypass graft, as defined by the Standard
Industry Definitions. You can now claim
more than once without the Cover Amount
being reduced if you have a PLUS benefit! For
instance, you can receive 100% for a heart
attack, and a further 100% for cancer.
Some great features offered:
Clear descriptions and definitions of illnesses.
■■ Includes the LifeQuality event
■■ Whole-life cover
■■ Multiple claims on stand-alone “PLUS” benefits
(e.g. unrelated cancers).
■■ No hidden terms and conditions and premium
discounts if major events are excluded.
■■ Available as a stand-alone and as an accelerator
– no waiting period applies to accelerator
benefit events, and 14 days on stand-alone
benefits.
■■ A choice of illness cover – tailored to suit the
need and affordability.
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ILLNESS COVER
more info…
GREENLIGHT pays what it promises – no severity-based claim payments
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With the Extensive Illness Benefit some mild events pay out a proportion of the Cover Amount
on diagnosis of the particular condition. These conditions are specified upfront.
Standardised industry definitions grid
Greenlight payouts
as a percentage of
Cover Amount
Severity A
Most severe level
of illness
Severity B
Severity C
Severity D
Least severe level
of illness
Heart attack
100%
100%
100%
100%
Stroke
100%
100%
100%
100%
Cancer
100%
100%
100%
100%
CABG - Coronary
Atery Bypass Graft
100%
100%
100%
100%
Illness and severity levels in the table are as per the Standardised Critical Illness Definitions Project (SCIDEP) of the Association
for Savings and Investment South Africa (ASISA)
Clear descriptions and definitions of illnesses
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In explaining what the Life Covered is covered for, GREENLIGHT uses little or no technical
jargon. As a result, the definitions are clear and understandable – and are not only suitable
for doctors!
The LifeQuality event on the Comprehensive and Extensive benefits covers the breakdown of
the Life Covered’s ability to perform basic activities of daily living - no matter the underlying
reason or illness.
Multiple claims on stand-alone benefits
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When a claim is made on the stand-alone benefits (the PLUS benefits) the Cover Amount does
not reduce, nor does the benefit terminate.
EXAMPLE:
A claim for a heart attack is made. The Cover Amount will not reduce after the claim, but
note that some heart-related illnesses will be removed. A second claim (e.g. for cancer) will
be allowed – and result in the full Cover Amount being paid.
Whole-life cover
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Cover remains in place at older ages – when it’s really needed.
No hidden terms and conditions
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Any conditions that apply to the benefits, such as waiting periods, are specified clearly upfront
and are not buried in the fine print.
If, based on the health information in the application received, the Life Covered does not qualify
for cover on any one or more of the four events heart attack, cancer, stroke, coronary artery
bypass graft, a discount to the premium will be offered to fairly reflect the reduced cover.
Available as a stand-alone and as an accelerator
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No waiting period applies to illness accelerator benefit events. For certain illness on standalone benefits, a 14-day waiting period applies.
A choice of illness cover – tailored to suit the need and affordability
OMMS 06.2010 T1266
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Choose and combine benefits - half core cover plus half comprehensive cover gives full
protection for the four major illnesses and may suit the customer’s pocket!
PHYSICAL IMPAIRMENT COVER
PHYSICAL IMPAIRMENT (CORE) BENEFIT
PHYSICAL IMPAIRMENT (COMPREHENSIVE) BENEFIT
why?
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To provide cover for the costs of making adjustments to a client’s lifestyle as a result of surviving an impairment.
The costs include: physiotherapy; sourcing, purchasing, and ongoing maintenance of prosthetics.
Ensure sufficient finances during recovery time – off from work.
Finance modifications to a house or car.
Ensure peace of mind that medical shortfalls can be covered.
how…
Stand-alone benefits that provide cover for
specified physical impairments by paying a lump
sum in the event of diagnosis or occurrence of
such impairments and the client surviving the
6-month waiting period.
GREENLIGHT Physical Impairment (Core)
Benefit covers:
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Permanent loss of speech (100%).
Permanent loss of use of a combination of any
two of the following: hand, foot, eye, leg, arm
(100%).
Permanent confinement to bed or wheelchair
(100%).
Burns (100%).
Severe permanent facial disfigurement (100%).
GREENLIGHT Physical Impairment
(Comprehensive) Benefit covers:
The events covered under the Core version PLUS
the permanent loss of use of:
- 1 arm (60%)
- 1 leg (45%)
- 1 hand (45%)
- 1 foot (30%)
- Sight in 1 eye (30%)
- Hearing in both ears (45%)
If a partial payment is made under the Comprehensive version, the cover reduces by the benefit
paid out. A reduced premium will be calculated
after a partial cover payment is made. Any future
claim pays out the specified percentage of the
remaining Cover Amount.
The Life Covered may be required to undergo
reasonable medical treatment and/or follow
reasonable medical advice as part of the
rehabilitation process.
this is how
GREENLIGHT sees it
Because the event definitions are clear and
simple, you can be sure of the amount you
will receive.
Some of the other great features are:
No severity based payments
■■ No benefit aggregation.
■■ Whole-life cover.
■■ Stand-alone benefit – Cover Amount unaffected
by other claims.
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PHYSICAL IMPAIRMENT COVER
more info…
No benefit aggregation
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Benefit aggregation applies to the GREENLIGHT “Earnings Ability Cover” benefits ONLY.
Benefit aggregation does not apply to Physical Impairment Benefits – the purpose of this cover
is not to replace the loss of income, but to allow the client to adjust to a new lifestyle as a result
of a physical impairment.
Whole-life cover
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Disability cover usually ceases at age 65 next birthday because at this age, most individuals
will have retired from active work.
Physical Impairment Benefits provide cover beyond this age because these benefits are not
regarded as “disability cover”, rather as Lifestyle Adjustment Cover – and these adjustments
could be necessary at any age.
This means that the client will be covered against physical impairment beyond retirement
age.
Stand-alone benefit – cover unaffected by other claims
OMMS 06.2010 T1266
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A claim on a stand-alone Physical Impairment Benefit will not affect the cover on other benefits
in the client’s GREENLIGHT plan.
RETRENCHMENT BENEFIT
why?
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Ensure an income and financial security when the client is temporarily unable to earn an income because of
retrenchment.
Provide money to pay for monthly expenses while looking for a job.
Ensure peace of mind – the risk of retrenchment is significant – job security is no longer a guarantee.
how…
this is how
GREENLIGHT sees it
GREENLIGHT Retrenchment Benefit
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Provides a monthly income, for a maximum
period of 6 months on the retrenchment of the
Life Covered.
Retrenchment is the termination of employment
of the Life Covered by their employer as a result
of, or in anticipation of, business conditions, or
any other business decision of the employer
resulting in a staff reduction.
Termination of employment for the following
reasons shall not be considered retrenchment:
- Retirement (early, normal or ill-health) of
the Life Covered.
- Resignation or voluntary retrenchment of
the Life Covered.
- Dismissal of the Life Covered.
- A fixed-term employment contract coming
to an end.
- Nervous breakdown, stress, burnout,
disability or illness of the Life Covered.
The above specific examples should not be regarded
as the only possible reasons for termination of
employment that would not be considered as
retrenchment.
With this unique offering from Old Mutual
you have peace of mind that you will be
financially secure for up to R30 000 pm for
6 months, should you be retrenched and
searching for alternative employment. This
benefit is also tax deductible if you have
a taxable income. No medical testing is
required.
Some other great features include:
Generous Cover Amount – structured as an
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income not as a premium waiver.
Great accessibility to this cover through a
GREENLIGHT plan.
Provides relevant cover in today’s world –
peace of mind and financial security.
RETRENCHMENT BENEFIT
more info…
Great accessibility to this cover through a GREENLIGHT plan
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Retrenchment cover is available to most existing GREENLIGHT clients – and can be structured
as part of the client’s risk portfolio quite easily.
The GREENLIGHT Retrenchment Benefit is sold as an ancillary benefit to any one of
the following parent benefits:
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Life Cover
Death Benefit
Accidental Death Benefit
Final Expenses Benefit
Earning Ability Cover
Daily Tasks Benefit
Daily Tasks Income Benefit
Occupational Disability Benefit
Occupational Disability (Own) Benefit
Occupational Disability (Own) Income Benefit
Occupational Disability Temporary Income Benefit
Comprehensive Disability Benefit
Comprehensive Disability (Own) Benefit
Accidental Disability and/or Death Benefit
Business Overheads Replacer Benefit
Lifestyle Adjustments Cover
Physical Impairment (Core) Benefit
Physical Impairment (Comprehensive) Benefit
Severe Illness (Core) Benefit
Severe Illness (Comprehensive) Benefit
Severe Illness Plus (Core) Benefit
Severe Illness Plus (Comprehensive) Benefit
Extensive Illness Plus Benefit
Note that:
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The Life Covered of the Retrenchment Benefit must be the same as the Life Covered of the
parent benefit.
The total potential benefit of the Retrenchment Benefit (i.e. the total of six income benefit
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payments) may not exceed the equivalent benefit, which would be paid in respect of the parent
benefit. The “equivalent benefit” for benefits providing a lump sum benefit is the lump sum.
The “equivalent benefit” for benefits providing an income benefit is the income that would be
received over six months. (Compare the parent benefit’s Cover Amount per month with the
Retrenchment Benefit’s Cover Amount per month.)
No claim will be paid within 6 months of the Cover Start Date.
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Tax deductible premiums
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OMMS 06.2010 T1266
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Premiums are tax deductible under current Revenue practice and the income received from the
benefit is taxable.
The tax deduction will only be available to those who have a taxable income against which this
deduction can be claimed.