Discovery Life pays R1.5bn in Covid-19 claims
Health insurer’s life insurance unit sees record monthly payouts in January as pandemic-related claims almost equal group’s half-year profit
Discovery Life has paid out R1.5bn in claims linked to Covid-19 since the pandemic took hold in March 2020 with two-thirds of total payouts coming in January alone as a second wave of infections towards the end of 2020 inflated death claims.
The life insurance unit of Discovery Limited said its total Covid-19-related payouts comprised R1.4bn in life claims, R73m in income protection claims and R14m in severe illness claims, according to a report released on Monday. Almost R1bn of the total R1.5bn in pandemic-related claims were made in January, the biggest quantum of claims in a single month by Discovery Life since the unit was started in October 2000, the report said...