DIAL DIRECTS CASH BACK BONUS PAYBACKS FLY UNDER THE SIMPLE,SMART BANNER
Thursday, April 11, 2013
After 10 years of giving bucks back to policyholders for remaining claim-free, Dial Direct has revamped its cash back bonus benefit.
Reflecting the insurer’s core ethos to provide simple and smart insurance, the Bucks Back Bonus is being re-launched as the Simple, Smart Bonus.
Just as a rose by any other name is still a rose, the Simple, Smart Bonus still offers Dial Direct’s policyholders all the benefits that the Bucks Back Bonus did.
The Simple, Smart Bonus gives Dial Direct policyholders an amount equivalent to the first year’s premiums, or 25% of the total premium, paid over the four claim-free years – whichever is the lesser.
“Since our inception in 2003, we have rewarded over R218 million to policyholders who are more cautious with their possessions. In 2013, we plan to reward R44 million to policyholders. The Simple, Smart Bonus shouts just how easy it is to earn a substantial reward for good claims management,” says the company’s Senior Executive, Bradley Du Chenne.
Du Chenne says Dial Direct’s cash back bonus is unique in that policyholders can still qualify for a reward even if they have made certain claims during a four year period.
Claims that Dial Direct policyholders can make without compromising their eligibility for a Simple, Smart Bonus include:
Du Chenne notes that many consumers do not understand the difference between a no-claim bonus and a cash back bonus.
"With a no-claim bonus, insurers reward policyholders for each claim-free year that passes by discounting their monthly premium. A cash back bonus on the other hand rewards policyholders with a financial pay-out for remaining claim free for a specified number of years, as a result of them being more vigilant with their possessions. In Dial Direct's case, the time frame is four years. For other insurers, it ranges from two to five years. The prerequisite is that the policyholder must remain with the insurer for a required number of years in order to receive the bonus. Once the pay-out has been made, the policyholder begins a new four year cycle for their next Simple, Smart Bonus payout.
“We hope that our policyholders will put their Simple, Smart Bonus payouts to good use. We suggest that they use it to reward themselves - it is a bonus after all!" concludes Du Chenne.