Dis-Chem Life, the newly launched subsidiary of Dis-Chem Group, is redefining the life insurance industry by offering affordable, flexible life insurance products that break down long-standing barriers to coverage. With a focus on inclusivity, Dis-Chem Life is providing access to life insurance for consumers previously excluded due to chronic conditions such as diabetes, hypertension, and HIV. These individuals, traditionally viewed as high-risk by insurers, often faced exorbitant premiums, making life insurance an unaffordable option. Dis-Chem Life aims to change that narrative, offering competitive premiums without penalising those with chronic health conditions.
A Fresh Approach to Life Insurance
Dis-Chem Life’s products are designed to be flexible, inclusive, and accessible to a wider audience. By rewarding healthy lifestyle choices and integrating healthcare services, the company is creating a more equitable market for all consumers. “Traditional life insurance has long been a grudge purchase — complicated, impersonal, and often only valuable after a claim,” says Rui Morais, Dis-Chem Group Chief Executive. “For many South Africans, especially those living with chronic conditions like hypertension, diabetes, or HIV, life insurance has been out of reach due to limited options and high premiums. Dis-Chem Life has addressed that gap by creating products that offer comprehensive coverage at premiums similar to those paid by healthy consumers.”
Rewarding Health Management
One of Dis-Chem Life’s key differentiators is its approach to health management. The company recognizes the importance of proactively managing chronic conditions and offers policyholders access to regular health checks at no additional cost through Dis-Chem’s extensive network of clinics nationwide. This health support is integrated with easy access to medication and prescription reminders, ensuring those who actively manage their health receive better value from their insurance plans.
“We introduced a new model that gives value back based on how well individuals manage their health and chronic conditions,” says Greg Smith, CEO of Dis-Chem Life. “This model supports policyholders with regular health check-ups, encouraging them to take charge of their health while receiving affordable life insurance coverage.”
Addressing the Underinsurance Gap
The financial reality of inadequate life cover is significant, with many South Africans lacking the necessary coverage to protect their families. “According to the National Institutes of Health (NIH), 20% of deaths among South Africans aged 35 to 64 are due to chronic diseases linked to lifestyle,” explains Smith. “Yet, most people are underinsured, leaving their families vulnerable when they need support the most.”
With an estimated 1.2 million Dis-Chem customers living with chronic conditions, the launch of Dis-Chem Life represents an opportunity to bridge the insurance gap. By offering affordable cover integrated with essential health services, Dis-Chem Life aims to drive better health outcomes and improve healthcare access, all while offering financial protection.
extraRewards: Turning Health Actions into Value
A standout feature of Dis-Chem Life’s offering is its reimagined extraRewards programme. Available exclusively to policyholders, this programme rewards healthy actions with discounts ranging from 20% to 100% on a wide range of everyday products. Policyholders can even earn monthly discounts that are equal to or exceed their full insurance premium, potentially saving up to R3,000 per month.
The extraRewards programme is designed to make insurance feel more like a reward for living a healthy lifestyle, creating tangible value for policyholders from day one.
Comprehensive Coverage Options
Dis-Chem Life’s innovative product suite includes a range of options such as life cover, critical illness cover, disability cover, income protection (both temporary and permanent), education protection, funeral cover, and grocery protection. For critical illness, Dis-Chem Life offers some of the highest payouts in the market, including combined payouts of up to 500% for illnesses like cancer.
With comprehensive coverage designed to meet the diverse needs of South Africans, Dis-Chem Life is offering a game-changing alternative to traditional life insurance. “We are democratising life insurance with the goal of making it accessible, affordable, and valuable for all,” says Morais.
Merging Healthcare and Insurance
Dis-Chem’s evolution from a retail pharmacy to a fully integrated primary healthcare group is underscored by the launch of Dis-Chem Life. With a deep understanding of the health risks of its 15 million customers, including those living with chronic conditions, Dis-Chem is able to use AI and data-driven insights to fairly price life insurance products and offer more favourable premiums. This innovative approach merges healthcare and life insurance, providing a unique competitive edge in the market.
“Dis-Chem Life represents a natural extension of our healthcare services, bringing us closer to our mission of increasing access to quality healthcare and affordable insurance for all South Africans,” concludes Morais.
With Dis-Chem Life, consumers can now enjoy comprehensive coverage, better health outcomes, and tangible rewards for managing their health — all at affordable premiums that make life insurance accessible to more South Africans than ever before.
