At Momentum we are passionate about the financial wellness of our clients. We work hard to help them achieve this by providing appropriate cover and services to help protect them against the financial consequences of unexpected events that life throws their way. The claim statistics are a very tangible way of illustrating this contribution.
We do not only pay claims, we improve lives and prevent claims events from happening:
By combining our wellness and rewards programme, Multiply, with our market leading benefits, we help clients become financially well by rewarding them for living healthy active lifestyles that can reduce the risk of diseases linked to sedentary or unhealthy lifestyles.
We reward our clients for being active, being aware of, and managing their health status. For engaged clients this leads to better health and discounts that saves them up to 60% on their Myriad life insurance premiums – savings that they can use to address other financial wellness needs. This approach helps clients maximise their income so that they have enough money for life’s journey.
Encouraging early diagnoses:
Encouraging clients to complete regular medical check-ups and making them aware of their health status helps them identify problems earlier.
This leads to the number of claims for early stages of critical illness increasing, creating the opportunity for clients to seek medical interventions earlier when it is less expensive and has the highest probability of a successful intervention.
Having the most comprehensive cover available is important:
Traditionally, critical illness cover has focused on the four most common critical illness events,namely:
cancers, strokes,heart attacks and coronary artery bypass grafts (CABG).
However, other critical illnesses like dementia and Parkinson’s disease can have the same financial impact on your life. Because of the comprehensive cover offered by Momentum Myriad we see more claims paid for events outside of the big four claim events than some other insurers, who provide core critical illness benefits as an option to their clients.
We pay all valid claims:
It is an enormous responsibility to make sure that life continues for the ones you love once you cannot provide for them anymore.
At Momentum, we understand this profound need for security and make it our business to find reasons to pay valid claims.
Longevity is becoming more of a reality with claims made for people over 100 years old for the sixth year in a row.
Viewing longevity as a major risk factor, Momentum Myriad is the only insurer, world-wide, that offers a longevity benefit that can provide clients with additional pay-outs when they claim and provide them with a Longevity Enhancer pay-out at age 80, if they have never claimed before.
The first Longevity Protector claim was paid to a client in 2016, with a number of other qualifying claims already in process. For these clients, their five yearly pay-outs are scheduled, ensuring that they will have regular pay-outs to explore future treatments and medical advances.
Momentum Multiply members enjoy increased longevity:
The financial wellness effect on clients who actively participate in Multiply is noticeable as an increased average life expectancy. Whereas the average life expectancy for the insured population in SA is 67, the average life expectancy for Multiply members on the higher statuses is 89, longer even than for the Japanese who are the population who, at 85, have the longest average life expectancy in the world.
The positive effect of wellness and rewards programmes:
Inactivity and obesity are two major contributors to lifestyle diseases, like cardiovascular disease and cancer.
Wellness and rewards programs that encourage and reward clients to be physically active and to adopt a healthy lifestyle can help reduce the risk of suffering a claim event.