STEPHEN CRANSTON: Life industry has kept many afloat during Covid
10 March 2021 - 15:57
If you doubt that life offices play an important role in SA’s social security landscape, just look at the latest life insurance industry statistics.
Claims and benefits paid out were R523bn, almost R200bn more than the entire spectrum of social grants. Of course, customers would have needed to afford to keep up their R200 to R500 a month premiums to enjoy those benefits. But it means that they do not depend on the state, while many people in affluent northern European countries still depend on the state for help in a crisis...
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