Disability Cover

Disability cover provides a range of benefits when an employee is unable to work due to a disability or critical incident. Old Mutual offers companies several group disability cover options for their employees. These are:

Group Income Cover

Insurance against disablement is a vital part of any employee package. Now Old Mutual Corporate offers groups new and innovative ways to protect their members through the innovative and comprehensive Group Income Protection solution.

Group Income Protection from Old Mutual is innovative and comprehensive group income cover to meet the full financial need of employees. In a nutshell, it provides a monthly income for employees who have become occupationally disabled. It also introduces options cover for maternity leave.

For more information, please refer to the Group Income Cover brochure.
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 to the above packages for your employees. These include:

Accident Disability Cover

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.