Insurers pay record R15.1bn on fully underwritten individual life policies in 2018
Nondisclosure still biggest reason for rejected claims
26 August 2019 - 12:03
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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.