Almost everyone recognises the name ‘Vitality’ associated with Discovery. Vitality is what is referred to as a Wellness Programme. It’s not insurance or an investment it is not even a financial product as defined in the Financial Advisory & Intermediary Services (FAIS) Act. It’s also not a banking product! The implications of all this being that when it comes to a regulatory body or some sort of control mechanism there is none. There is purely the Consumer Protection Act (CPA) protecting the client on this non-financial product (Wellness Programme), like buying an item from a grocery store. The truly interesting part is that you can only qualify for Discovery Vitality or Momentum Multiply membership if you have certain financial products (all detailed in the prices & qualifying products pdf’s below).
So that’s the legal framework explained surrounding a Wellness Programme so what is it that you are actually buying? It’s quite simply VARYING discounts at preferred spending partners, be it healthy foods, gym, flights, accommodation, etc. We emphasise the word VARYING as that’s what the ‘up to’ gimmick is all about. Run so many km’s, answer these questions, do this healthy activity ‘be well’ in other words and get points which gives you better status and then you are rewarded with a nice discount at this and that spend partner. Take a carrot and stick analogy, the stick would be low status, i.e., low discounts for not doing the prescribed ‘healthy’ activities and the carrot is higher discounts for actually completing the prescribed ‘healthy’ activities.
So that’s what a Wellness programme is legally speaking and what its functions is (varying discounts at various spend partners). It might work out for some and not for others, oh well you just cancel it if it doesn’t work out right? Well sure, assuming your underlying qualifying financial product (life insurance, investment, medical aid) is what you would have purchased at the standard ‘non-integrated’ price. In that event you say oh well I wasn’t able to get full use out of the wellness programme I’ll cancel it for now and maybe try again in future or just leave it out.
Unfortunately, how Wellness Programmes get sold a lot of the time is making this non-financial product the ‘beating heart’ of a financial product where enormous life insurance/investment fees discounts fall away entirely if cancelling the Wellness Programme or not adhering to the prescribed steps or activities.
Our approach is simple, ensure that the Wellness Programme suits the client as is (different clients have different sped habits) but DO NOT EVER make a financial product suit the client by adding a Wellness Programme.
With Discovery Vitality we go in with the approach that the member couldn’t be bothered about status levels. The ONLY inconvenience we take as a given is the annual Vitality Age assessment (online) & Vitality Health Check for the Main member and Spouse (Adult dependents don’t have to do one). That’s it, just click the few buttons on the website once a year, see a nurse at Dischem, Clicks or thousands of other accredited pharmacies for PM & Spouse. That’s it, nothing else.
We forget about status levels altogether and we focus purely on the easy/standard money back benefits.
Pro’s – By a long long way, SA’s # 1 Wellness programme ito website sophistication, linking to spend partners, minimum of fuss in general (reference number received for all queries as opposed to nothing with Multiply) and unreal broker/client support they go out of their way to assist us at all times.
Con’s –It’s not as flexible as Multiply ito who you may cover, instead you have to cover those that qualify for membership so we thinking adult parents on medical aid, or spouse on life cover (adult dependents have to earn their own points).
1 – ALL VITALITY PRICES FOR 2022
2 – VITALITY KEYFIT EXPLAINED (2022)
3 – VITALITY ACTIVE EXPLAINED (2022)
Then for Momentum Multiply it’s a bit different. Here you have to be at least GOLD status, which is much easier to achieve than on Vitality it must be said. The benefits only really make sense once that’s done. Remember if the Multiply or Vitality Member hits GOLD status this year ‘for real’, then next year they get to keep that status as ‘carry over’ for the following year. In other words, reach GOLD status for real in Feb 2022 and keep that status until Dec 2023. Only as of Jan 2024 will the status drop back or go up to what it actually is, based on points as at 1 Jan 2024. Then the Member would likely pick up their socks again and get the status level back to at least GOLD.
Pro’s – If willing to have some patience & spend a lot of time on status levels/sometimes faulty website functions, there is value to be found, especially if on Momentum Health Medical Aid and very fit.
Con’s – Unfortunately the gym discounts are a fraction of Vitality and we always say that the gym discount alone is the big decider on whether or not a Vitality or Multiply Wellness Programme is financially viable.
1 – MOMENTUM MULTIPLY PRICES & QUALIFYING T’s & C’s EXPLAINED (2022)
