Discovery warns of higher premiums for unvaccinated clients
Discovery Life has warned new and unvaccinated clients may end up paying higher premiums.
The warning means Discovery has become the first South African insurer to consider Covid-19 vaccination in its underwriting process.
The additional requirement was introduced on Thursday.
"Clients with new policies who indicate that they are unwilling to be vaccinated may, unfortunately, be subject to higher premiums due to the increased risk," says CEO Riaan van Reenen.
"Refusal to be vaccinated is treated similarly to smoking or lifestyle diseases such as diabetes, which receive a higher premium.
"This premium may be adjusted should an unvaccinated client later decide to get vaccinated."
Discovery Life deputy CEO Gareth Friedlander believes vaccinated clients will end up reaping the benefits.
"If a new Discovery Life client is vaccinated against Covid-19, we’ll return this value to them through the Vaccination Max PayBack Offer.
"This offer provides clients who are vaccinated, and who qualify for PayBacks, the maximum PayBack percentage available to them for the first year of their policy.
"This is significant as Discovery Life clients can earn PayBacks of up to 100% depending on their chosen policy options."
