Insurers pay record R15.1bn on fully underwritten individual life policies in 2018
Nondisclosure still biggest reason for rejected claims
SA life insurers paid out almost 100% of all death claims for fully underwritten individual life policies in 2018, official statistics show.
The Association for Savings and Investment SA (Asisa) said in a statement that the value of the 33,545 claims paid out against fully underwritten individual life policies amounted to a record R15.1bn. This is more than double the R6.8bn paid out since Asisa started consolidating statistics in 2012, Rosemary Lightbody, senior policy adviser at Asisa, says...