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Young blonde woman with her eyes closed relaxing on a chair in her home, drinking a cup of coffee.

Income
protection cover

Our income protection insurance provides you with the certainty of a monthly income if you cannot work due to illness, impairment or disability.

Calculate your personalised income protection premium discount of up to 35% with LifeReturns® to save on your monthly premiums. LifeReturns® is a modern approach to calculating maximum discounts on your monthly income protection premium using the latest digital technology to quickly and accurately assess your health risk factors that are used to calculate your monthly premium price.

  • If you're permanently unable to work, we will pay up to 100% of your net income until you retire.
  • Get your discounted income protection quote in 3 minutes.
  • Save up to 35% on your monthly premium with a personalised LifeReturns® premium discount.
Young mom and dad are walking in the park. The dad is carrying his son on his shoulders.

YOUR LIFE. YOUR DISCOUNT.

Save money on your income protection insurance premium

Get income protection that helps you save every month. LifeReturns® uses the latest technology to quickly and accurately assess your health risk factors to calculate your personalised income protection premium discount.

What is the difference between life insurance and income protection?

Income protection cover provides an income if you cannot work due to illness, impairment or disability.

Many people assume they’ll continue to earn an income until they retire. But what if something happens to you and you’re unable to work? Income certainty determines your quality of life and your family’s financial security.

Without an income, you would struggle to pay for your financial expenses like school fees or bond repayments. Income protection cover will give you peace of mind that your financial expenses will be taken care of.

Life cover gives you peace of mind that your loved ones will be financially provided for in the event of your death. You can take out both income protection cover and life cover with Momentum.

How does income protection cover work?

Offers protection when you're permanently or temporarily unable to work in your current occupation.

If a broken leg keeps you from work for 3 months, for example, you must still pay the bills and get the children to school. Income protection cover can help you to do that.

Myriad complete income protector benefit will pay up to 100% of your income for up to 24 months, depending on the cover period you choose, or until you recover. If you’re permanently unable to work, we will pay up to 100% of your net income until you retire.

Want to know more?

Claims and payouts

When doesn't it pay out?

If the person insured is able to perform 76% or more of the main duties of his/her own occupation or does not meet the requirements of one of the defined claim events.
Who gets paid?

The benefit amount will be paid out to the policyholder.
How long does it take to pay out a claim?

We will pay as soon as the relevant proof that the event falls under one of the defined claim events, has been received.
Is my claim payment taxable?

No. This benefit is tax-free.

Premiums

How do you work out my premium?

The premium depends on the person insured's age, gender, smoker status, and health as well as the premium pattern chosen at the outset of the policy.
What if I skip a payment?

If you skip a payment, the policy won’t lapse as long as we receive a payment within the 30 days grace period.

Cover term and amount

Will the cover amount change over time?

If the person insured chose an increasing cover amount during the application process, the cover amount will increase annually and so will the policy premium.
How long am I covered for?

The person insured can choose how long he/she wants to be covered for up to retirement age 55, 60, 65 or 70 years.
Can I increase or decrease my cover amount?

Yes, the cover amount can be changed through an alteration process.
What is the minimum and maximum cover amount I can get?

Monthly benefit amount:
Minimum: R2 000
Maximum: R150 000
Professionals: R200 000

Additional benefits

You can add these benefits to your Myriad Complete Income Protector Benefit. Discuss the advantages of taking out any additional benefits with a certified financial adviser.

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Permanent Disability Enhancer

Income protection cover combined with the Permanent Disability Enhancer (PDE) gives you the best features of both income and lump sum disability cover in one solution. What’s more, you get to choose the type of payout that works for you. You can choose between a monthly income, a lump-sum payout, or a combination.

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Income Enhancer Benefit

Provides 50% more cover, on top of your income disability payout, to cover unplanned lifestyle expenses during the initial period you are away from work after a severe illness, injury or disability.

Happy mom holds her toddler son on her back against a background of trees in summer with the late afternoon sun shining through the trees.

Complete Family Protector Benefit

Provides additional payouts if any of your immediate family members - spouse and children must stay in hospital for an extended period, are diagnosed with a critical illness or die; or if you are hospitalised for an extended period or die.

Want a quote?

You’ll get a quote reflecting your premium amount at the end of the process.

Need advice?

Discuss the benefits of having life insurance with a certified financial adviser.

Contact Momentum
life insurance

Sales




Business hours are Monday to Friday from 08:00 to 17:00. We're closed on weekends and public holidays.

Client service and policy alterations




Business hours are Monday to Friday from 08:00 to 17:00. We're closed on weekends and public holidays.

Claims



[email protected]
[email protected]
[email protected]


Please use the applicable email address above for your relevant claim type. If you send your claim documents to the incorrect email, your claim handling could be delayed.

International number:

+27 11 505 1552

Our business hours are Monday to Friday from 08:00 to 17:00. We’re closed on weekends and public holidays.

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