Life insurers’ claim statistics reflect SA’s high murder rate
Claim statistics for 2022 paint a startling picture of the health and safety troubles facing the country’s youth.
Income protection
People’s expenses change in retirement. Shouldn’t their income too?
Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
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Shift in Discovery Life claims as Covid moves from pandemic to endemic
The reduction in Covid-19-related death claims in 2022 was offset by increasing morbidity trends.
Liberty: cancer displaces Covid as leading cause of claims
Statistics indicate a rise in income protection claims resulting from diagnoses for mental and behavioural disorders.
Income protection cannot take an umbrella approach
As a financial adviser, you can play an invaluable role to help ensure financial sustainability for your client through a needs-matched product that is unique to them. But how much income protection cover […]
Bidvest Life’s claim volumes jump 44% in 2021
Bidvest Life recorded the highest number of claims in its 27-year history last year, with claim volumes increasing by 44% compared to 2020. The spike was largely driven by an increase in Covid-19 […]
Few women have enough income protection, says Discovery Life
Women hold 47% of life policies, but the value of their cover is much lower than that of men, and few women have sufficient income protection, according to Discovery Life’s analysis of its […]
How to win your professional clients’ loyalty for the long term
Most intermediaries will agree that finding cover that completely addresses the needs of professionals is a tough ask. This market faces myriad unique challenges. There needs to be a greater understanding of what […]
Bidvest Life wants to ‘change the narrative’ around income protection
FMI has rebranded as Bidvest Life in a move to become a consumer-facing brand and grow its market share by leveraging off the brand recognition of the Bidvest Group. “We want to box […]
Why are income protection claims rejected?
Policyholders’ misunderstanding of what is meant by waiting periods in the context of income protection policies was the main reason FMI rejected claims last year – and buying a policy with an inappropriate […]
Why are income protection claims rejected?
Policyholders’ misunderstanding of what is meant by waiting periods in the context of income protection policies was the main reason FMI rejected claims last year – and buying a policy with an inappropriate […]
Life office sees substantial rise in Covid related claims
In a recent media release, Petrie Marx, Product Actuary at Sanlam Individual Life, provided some insight into the impact of the pandemic on its individual life business. In 2020, Sanlam Individual Life paid […]
Why South Africans need the lifeline of income protection
In 2020, 59% of all COVID-19 related Sanlam income protection pay-outs were to people younger than 39 years old. According to Karen Bongers, Sanlam Product Development Actuary, this statistic underlines the critical importance […]
