Myriad-Critical benefitsThe Senate Group

Marius Botha

Business Development Manager

Agenda

• Claim statistics

• Critical Illness Benefits

• Functional Protector

• Retirement Booster

• Multiply

• Unique features

• Living Product Philosophy

Risks associated with humans

• Death

• Disablement

• Illness

• Living longer than planned for

The bad news

• You have a 1 in 3 chance to get Cancer in your lifetime

• Most common triggers* : Raised BMI Air pollution Bad diet

• The most common* cancers are: Cervical and Prostate followed by Breasts and Lungs

• The main causes* are: Environmental Physical Chemical

*WHO

The bad news

• You have a 1 in 3 chance to get a Heart attack in your lifetime

• Most common triggers* : Raised BMI Genetic Cholesterol

*WHO

The bad news

• You have a 1 in 50 chance to be involved in a car accident

• Most common causes* : Speed Alcohol

*WHO

Claim statistics

• 62% of Critical Illness claims are between the ages of 31-50

• 50% as result of cancer

• 25% as result of heart attacks

• 42% of Unnatural Deaths are caused by car accidents

So what are we to do?

• Get a Medical Aid

• Get Short Term Insurance

A closer look at medical aids

• Average increase per year in excess of 12%

• Benefits reduce annually

• Will I still be able to afford it post retirement?

Critical Illness Benefits

Critical Illness Benefits

• Least sold benefits in the market

• Swiss Re survey only 10% of clients have it

Critical Illness Benefits

• Pays upon diagnosis of defined critical illnesses

• Whole Life protection

• Lump sum benefit amount

Spoilt for choice

• Comprehensive Critical Illness Benefit

• Comprehensive Critical Illness Plus Benefit

• Elevated Comprehensive Critical Illness Benefit

• Elevated Comprehensive Critical Illness Plus Benefit

Longevity Protection, a world first!

• Pays additional 10% every 5 years AFTER diagnosis

• Moderate to severe conditions

• Permanent impact on lifestyle

Stand alone benefit

• Reinstates after a claim

• Does not reduce your life cover

• Protect you against future insurability

Free child cover

• Pays 10% to max of R125k

• Does not accelerate parents cover

• Exclude pre existing conditions

• Only children from 12 months are covered

Extra Benefits you can attach

• Premium waivers

• Premium payback option

• Longevity Protection-Critical Illness

What happens if I never claim?

• Longevity Enhancer payout at 80

• 20% of Critical Illness benefit amount

Would you ensure this?

A closer look at car insurance

• Short term insurance product

• Motorplan

• Extended Motorplan

• Pot hole protection

Functional Protector

Functional Protector

• Does a FNA provide for frail care costs?

• Do I only need this after retirement?

Functional Protector

• Whole Life Frail care benefit

• Up to R27.5k/m

• Pays for 100% Functional Impairment claims

• Increase with medical inflation

• Does not aggregate with other IP Benefits

Functional Protector Claims

• Dementia

• Aphasia

• Loss of vision

• Paraplegia

Boost your retirement savings

• Add a Retirement Provider

• Retirement booster

• 1.5% of annual risk premium X Term to retirement

• Equate to between 15-45% of premiums paid in

Multiply

• Guaranteed Myriad premium discount

• 10% to 50%

Unique benefits

• Last Survivor Death Benefit

• Functional Protector

• Accidental HIV

• Home Loan Protector

• Comprehensive Living Benefit

• Retirement Booster

• Longevity Protector

• Buy and sell future cover

• Premium guarantee term extender

Living Product Philosophy

Thank you