BMI
Body Mass Index calculates the insured life’s weight relative to their height and indicates the estimated fat percentage in their body. The insured life’s weight (in kilograms) divided by their height (in meters) squared is used to calculate their BMI.
Body Mass Index
Body Mass Index calculates the insured life’s weight relative to their height and indicates the estimated fat percentage in their body. The insured life’s weight (in kilograms) divided by their height (in meters) squared is used to calculate their BMI.
Digital screening
Digital in-app screening uses state-of-the-art biometric facial screening and a few mandatory questions which activates LifeReturns® discounts. It also includes identity verification and a liveness check to ensure the insured life is the person being screened.
Discount factor certainty
The factors included in, and levels required for LifeReturns® discount percentages will not be changed before 31 December 2027. The factors referred to are Body Mass Index, blood pressure, medical aid membership, physical fitness and regular debit order discount.
Fastlane
Myriad's tailor-made service offering consists of travelling medical doctors and nurses that visit to clients, at their convenience to conduct medical examinations required for life insurance. This results in financial advisers' business cases being issued faster.
FastTrack
FastTrack is an innovative underwriting process utilising digital screening technology to fast-track qualifying insured lives’ policies to be issued at standard rates without further medical tests.
Kimi
Kimi Screening is the commercial name for Momentum's approved in-app digital screening technology currently used for Myriad LifeReturns® screenings.
LifeReturns®
LifeReturns® is a groundbreaking approach to Myriad’s accurate pricing philosophy that offers dynamic annual discounts of up to 35% on contractual life insurance premiums. It utilises the latest digital technology to quickly and accurately assess risk factors used to price life insurance risk.
LifeReturns® compulsory annual reassessment
The insured life must complete an in-app digital screening reassessment every year, between 1 January and the end of February, to continue earning the best possible LifeReturns® discount that they qualify for.
LifeReturns® Reassessment Protector
The LifeReturns® Reassessment Protector limits the impact of annual discount reduction to 5-percentage points if the reduction is due to poorer in-app screening results and limited to 10 percentage points if the client did not complete the compulsory annual reassessment digital in-app screening.
LifeReturns® reassessment season
It is a period when all LifeReturns® clients are required to complete their annual compulsory reassessment. If clients do not complete the reassessment before the end of this period, they will lose their discount (the size of discount drop is limited by the LifeReturns® Reassessment Protector). Myriad’s reassessment season is from 1 January until the last day of February every year.
LifeReturns® voluntary reassessment
The insured life can complete a voluntary reassessment using their own mobile device to improve their LifeReturns discounts. A small fee is charged for a voluntary reassessments.
Regular debit order discount
Myriad rewards the policyholder upfront with a monthly discount of 5% on their premium if they pay their premium regularly via a debit order.
SAHPRA
South African Health Products Regulatory Authority
Vo2 max
VO2 max is a measure of the maximum amount of oxygen your body can utilize during exercise.