Income Protection Cover

The Viva Life Income Protection plan is a simple and effective way to ensure that you maintain your lifestyle and meet your financial commitments in the event that you are no longer able to work. In the event that you become permanently disabled, due to bodily illness or injury, this product will provide a regular monthly benefit.

Key Benefits
  • Cover up to R15 000 payable monthly
  • There is no medical examinations
STARTING FROM
R57
PER MONTH

How to claim


In the event of your death, your beneficiary will need to contact us by emailing claims@vivalife.co.za or calling 086 100 VIVA(8482). We will request the relevant documents, to ensure the claim is assessed efficiently.

We require notification of death within 90 (ninety) days of it happening. If we are not informed within that time, the claim could be repudiated.

For your claim to be paid we require:
  • That your premiums are up to date
  • Correct and completed claims documents.
Disputed Claims:
  • We allow 90 (ninety) days from the date of the communication of our decision for your beneficiary or estate to question our decision on a claim.
  • Should we repudiate the claim again and they wish to start a legal process or log a complaint with the Long-term Insurance Ombud, they will have an additional 180 days, after the 90-day period, to do so.

Monthly Premium


Premiums are payable in advance on the selected debit order date.Your premiums are subject to change, depending on the claims, expense and investment experience of Viva Life Insurance Limited. Premiums will increase annually due to inflation.

We will communicate any changes in premiums to you with a 31-day notice.

Any problems or issues?


If you have any issues or questions about your cover, feel free to call us on 086 100 VIVA (8482), or email us on support@vivalife.co.za to get more information on the policy.

For complaints and compliance

We appreciate you as a client, so if at any point you are unhappy with our service or product, please contact us using the following:

Please

Give us a chance to resolve the matter. To ensure our focused attention, please contact us using the following details:

Viva Life Head Office

Postnet Suite 33,
Private Bag X75
Bryanston
2021

Call: 086 100 VIVA (8482)
Email: complaints@vivalife.co.za
Fax: 086 681 3311

Then

If complaints about our products don't get resolved, we are also accountable to the Long-Term Insurance Ombud. Their contact details are:

Ombudsman for Long-Term Insurance

Private Bag X45
Claremont
7735

Call: 0860 103 236
Email: info@ombud.co.za
Fax: 021 674 0951

Or

Give us a chance to resolve the matter. To ensure our focused attention, please contact us using the following details:

Office of the FAIS Ombud

PO Box 74571
Lynnwood Ridge
0040

Call: 0860 324 766
Email: info@faisombud.co.za
Fax: 012 348 3447

Terms and Conditions

  • You must have a valid South African Identity Document.
  • You must be over 18 years and not older than 59 years on your next birthday to be eligible for cover.
  • We will not pay out if your death or disability is as result of deliberate involvement in an illegal act, riot, civil commotion, terrorist attack, or war.
  • Your premiums will be renewed and reviewed monthly.

    • There are no waiting periods in the event of accidental disability.
    • There is a 6-month waiting period in the event of disability due to natural causes.
    • We will only pay 50% of your claim amount if you are disabled due to natural causes after month 6 and before month 18.
  • This product provides the cover amount in the case of you becoming permanently disabled, due to bodily illness or injury as defined below:
    • Both hands (from the wrist) = 100% of cover
    • One hand (from the wrist) = 50% of cover
    • Both feet (ankle and below) = 100% of cover
    • One foot (ankle and below) = 50% of cover
    • One hand and one foot = 100% of cover
    • Both legs (below the knee) = 100% of cover
    •One leg (below the knee) = 50% of cover
    • Both eyes = 100% of coverSpeech = 100% of cover
    • Hearing in both ears = 50% of cover
    • Suffered from 3rd degree burns
    - Covering more than 20% of your body surface = 50% of cover
    - Covering more than 40% of your body surface = 100% of cover

FAQs


How does Income Protection work?

If you become permanently disabled, Viva Life will pay the selected lump sum in line with the benefit limitations. The cover will cease:

  • When you reach age 65 or
  • should you pass away
  • if 100% of the benefit is settled

Why should I buy Income Protection Cover?

Income Protection Cover is ideal for a long-term solution when it comes to protecting yourself against financial pressure in the event of disability. We tend not to confront the reality of disability and the dramatic effect it could have on ourselves and families. The best thing about using an independent provider as opposed to company perks is that your cover is not tied up with your current job, meaning you're cover is managed by you, not your employer.


When does my cover begin?

Cover begins once your application has been assessed and approved by Viva Life and your first due premium has been paid.


What happens if I miss a payment?

Should you miss a payment for any reason, we will collect a double debit order the following month for up to a maximum of 3 months. If your policy lapses and you would like to reinstate and resume payments, waiting periods would reapply.


Are the proceeds from an insurance policy taxable?

The proceeds from an insurance policy are not taxable because of their nature. The proceeds are of a capital nature and are therefore not taxable as income. All proceeds that are of a capital nature are subject to Capital Gains Tax. However, the proceeds from insurance are exempt from Capital Gains Tax.


Is there a waiting period when I cannot claim?

There is a 6 month waiting period (from Commencement Date) where claims cannot be made for payment. We will also only pay 50% of your claim amount if you are disabled after month 6 and before month 18. We will however honour your claim in the first 6 months if your disability was the result of an accident.


What is the difference between Disability Cover and Income Protection?

Disability cover is there so that you can make changes to your lifestyle and home while Income Protection is there to replace your income should you become disabled. Disability cover provides a once off lump sum payment, while Income Protection is a monthly payment in to your bank account.

We offer Life Cover, Funeral Cover, Family Funeral Cover, Disabillity Cover, Income Protection and Education Cover.