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Accelerated Disability Cover

Frequently asked questions

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  • 1. What is Accelerated Disability Cover?

    Accelerated Disability Cover is an optional add-on that can enhance your Mortgage Protection Cover, which will settle the outstanding value of your Investec home loan in the event of a permanent disability. Should you become temporarily disabled, this benefit will settle the monthly interest charged on your home loan until you recover, or for a maximum of 24 months.

  • 2. Can I get Accelerated Disability Cover as a standalone product?

    No, accelerated benefits can only be added to an existing death benefit, in this case, Investec Life’s Mortgage Protection Cover.

  • 3. What is the difference between standalone Disability Cover and Accelerated Disability Cover?

    Following a major permanent injury or illness when you cannot care for yourself, perform simple daily activities, or perform your occupational duties:

    • Standalone Disability Cover will provide you with a lump sum payout, to help you make lifestyle changes, pay off debt, or invest in your future.
    • Accelerated Disability Cover (a living benefit) works with Mortgage Protection Cover (a death benefit) to settle the outstanding balance on your Investec home loan should you become permanently disabled, or pass away. Since it is an accelerated benefit, when a payout is made on permanent disability, the benefit on death falls away.
  • 4. Why should I consider Accelerated Disability Cover?

    Adding Accelerated Disability Cover to your existing Mortgage Protection Cover benefit is a cost-effective way to enhance your Mortgage Protection Cover and enable more optionality in terms of when you can claim on your policy.

  • 5. Do I qualify for Accelerated Disability Cover?

    • Cover is only available to Investec Private Home Loan clients.
    • To qualify for this benefit, you need to be under 60 years, and have (or be in the process of applying for) a Mortgage Protection Cover benefit from Investec Life.
  • 6. What happens if I have multiple home loans with Investec?

    You can add Accelerated Disability Cover to each of your home loans, as long as you have taken up a Mortgage Protection Cover policy with us for each of those home loans.

  • 7. When will my Accelerated Disability Cover cease?

    Your cover ceases on the earlier of:

    1. Your retirement
    2. A permanent disability claim being approved and paid out.
    3. The full settlement of your outstanding private home loan.
  • 8. When do I get paid?

    Payout on permanent disability
    In the event of a permanent disability, the outstanding home loan will be settled, after which, your Mortgage Protection Cover policy will fall away.

    Payout on temporary disability
    If you suffer an illness or injury that results in a temporary disability, the monthly interest charged on your home loan will be covered until you recover, or for a maximum of 24 months.

  • 9. How do I submit a claim?

    If you need to submit a claim, please contact us on +27 11 291 3934 or 0860 443 443 or at Lifeclaims@investec.co.za.  A dedicated claims assessor will be assigned to you and will guide and support you through the process from start to finish.

  • 10. How can I apply for Accelerated Disability Cover?

    You can apply for any of Investec Life’s products through Investec Online or on the App. Alternatively, you can contact your Investec Life accredited financial adviser, or email us directly at LifeQueries@investec.co.za.

  • 11. Questions?

    Please email us on AdvisorySupport@investec.co.za, or call us on +27 11 291 3934 or 0860 443 443.