DEATH AND DISABILITY
South Africans are living dangerously with R34-trillion shortfall in cover
New study shows adult working population does not have sufficient cover for sudden, life-changing events such as death or disability
The average SA income earner had a life insurance shortfall of at least R1m and a disability cover gap of about R1.4m at the end of December 2021, a new study showed on Wednesday, findings that expose the extent to which households are living on the edge of poverty.
The study, which is conducted every three years by the Association for Savings and Investment SA (Asisa) in partnership with True South Actuaries & Consultants, indicates that the SA adult working population, particularly between the ages of 30 and 50, did not have sufficient cover for sudden, life-changing events such as the death or disability of a breadwinner...
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