Disability cover pays a lump sum when you get permanently disabled and unable to continue to do your own occupation due to injury or disease. Visit www.triarc.co.za/life-insurance and have
a look at the technical specification under each
product page.
Good Stuff Happens in 1:1 Meetings: Why you need them and how to do them well
Life Insurance Disability Cover
1. more things while still paying a relatively low
premium.
DISADVANTAGE
The main disadvantage is that if you claim on your
Disability Benefit, your Death Benefit reduces by
the same amount.
This means that you could get to a point where
you have little or no Death Benefit remaining to
pay for the things you intended it for.
WANT TO KNOW MORE?
Visit www.triarc.co.za/life-insurance and have
a look at the technical specification under each
product page.
DISABILITY
BENEFIT
LGBTI INSURANCE PROVIDER
TRIARC is an authorised financial services provider FSP45009.
TRIARC insurance products underwritten by Guardrisk Life FSP 76.
Council of Medical Scheme Number ORG 4040.
CONTACT US
021 810 5700
www.triarc.co.za proud2b@triarc.co.za
triarcgroup triarcgroup
LGBTI
INSURANCE
PROVIDER
2. DISABILITY
BENEFIT
WHY?
IS THIS FOR YOU?
If the boys and girls at the stats office have
anything to say about it you will most certainly
have Disability Benefit in your portfolio!
Given the fact that 1 out of 4 people will become
disabled before they retire, you should very
seriously consider some form of Disability Benefit.
But, there is a caveat!
Not all occupations qualify for Disability Benefit,
so if you are a policeman, actor, pilot or a
handful of other ones, you will have to consider
our Functional Impairment Benefit instead.
A DISABILITY CLAIM TYPICALLY PAYS
100% OF YOUR BENEFIT
Disability Benefit is closely linked to your
occupation and you would be able to claim if
you are unable to do your normal job due to
an injury or disease. A disability claim normally
pays out 100% of your benefit amount.
YOU COULD ALSO GET A PARTIAL
PAYOUT
Your Triarc Disability Benefit policy also has a
Functional Impairment Benefit component built in.
This basically means that you could get a partial
payout if an injury or disease limits your ability
to do normal daily activities like walking and
looking after yourself even if you are still able to
do your own job.
WHAT TO CONSIDER
BENEFIT AMOUNT
A “rule of thumb” is to aim for Disability benefit
equal to 10 times your annual salary plus current
debt.
The actual calculation is a bit more complicated
and takes a few other variables into consideration,
but don’t worry about a thing, we have agents
waiting to assist you every step of the way!
PREMIUM PATTERN
When you take out Disability Benefit you can
either opt for a level premium or a percentage
premium pattern typically between 2.5% and
10% or even higher.
A premium pattern is just a way to make the
premiums more affordable now while you are
younger and probably having more debt to pay
back, and then you pay a higher premium when
you are older and earning a higher salary.
BENEFIT GROWTH
It is always a good idea to at least link your
benefit amount to inflation so that your insured
amount in 10 or 20 years is worth the same as
it is now, but you have a few options available
and can discuss your needs with your consultant.
PREMIUM GUARANTEE
A premium guarantee on your Disability Benefit
policy means that we cannot increase your
premium during that time (over and above the
premium pattern and benefit growth you chose).
If you opt out of a premium guarantee you will
probably pay a reduced premium, but your
premium may increase annually based on the
risk experience of the insurer.
SINGLE OR NOT?
Disability Benefit can be taken as a standalone
policy or you could combine it with a Death Benefit
policy to capitalize on some of the advantages of
doing that.
ACCELERATE OR NOT?
When you combine policies, your first
consideration is whether to “accelerate” the
benefits from the different policies or not.
The main advantage of accelerating benefits is
that it provides you with a way to get cover for