About Discovery

Discovery Limited operates in insurance and wellness markets in South Africa, the United Kingdom, and the United States of America. The company’s subsidiaries include Discovery Health, Discovery Life, Discovery Collective Investments and Discovery Investment Services (Discovery Invest), Discovery Vitality, PruHealth (U.K.), PruProtect (U.K.) and the Destiny group of companies (USA). Discovery Health Discovery Health provides administration services and managed care services to the Discovery Health Medical Scheme, as well as 12 closed schemes. Discovery Health offers the insurance of private ward and overseas cover features. These features were written through Discovery Life. Discovery Life Discovery Life offers a range of insurance and financial solutions to both individual and group policyholders. Discovery Life offers features that integrate with the features offered by Discovery Health, Vitality and Discovery Invest. Discovery Life Plan: The Discovery Life Plan provides protection against a spectrum of risks, including life, disability, severe illness, and income continuation cover. Health Plan Protector: The Health Plan Protector would fund contributions to the Discovery Health plans in the event of death, disability, or severe illness. It further rewards members for positive health management through the payback feature. Discovery Retirement Optimiser: The Retirement Optimiser offers funding for retirement and offers features that could together with the Life Plan, capitalize unneeded risk cover to increase retirement funding. DiscoveryCard Protector: The DiscoveryCard Protector would cover the outstanding balance on the DiscoveryCard in the event of death, disability, or severe illness. It further provides a monthly benefit for a defined period equal to the average DiscoveryCard spend in the six month period prior to the life changing event. Group Life insurance: Discovery Group Life offers a range of protection features on a group basis. Life cover, Severe Illness, Disability, and Income Continuation Benefits are offered. Discovery Invest Discovery Invest offers, through a range of investment fund choices, including Discovery managed unit trusts, a range of investment choices. These products are sold through investment wrappers, including Discovery Life policies. Discovery Vitality Discovery Vitality offers the company’s clients health and lifestyle benefits with selected partners. This business includes the DiscoveryCard which is offered to Discovery policyholders within South Africa. PruHealth Health insurance: The PruHealth product offers policyholders in the United Kingdom, cover for a range of private healthcare related claims. The cover is dependent on the plan type chosen and includes hospital and outpatient cover for selected conditions. It specifically excludes emergency cover, maternity cover, and cover for chronic conditions. Policies offered by PruHealth are annual contracts which can be cancelled or the premiums adjusted on renewal. PruProtect Individual life insurance: PruProtect is Discovery’s life insurance joint venture in the United Kingdom. It sells pure protection policies and is based on the vitality structure that enables pricing to be employed in the U.K. life assurance market. Destiny Health Health insurance: The Destiny product offers policyholders in the United States, cover for a range of health insurance features. Policies offered by Destiny are annual contracts which can be cancelled or the premiums adjusted on renewal. History Discovery Limited was founded in 1992.