Compliance - Regulatory / LOA - Life Officers' Association

Life industry saves R1 billion over four years

In January we reported on the long-term insurance industry's fraudulent claims statistics for the first half of 2006.

Life insurance companies thwart fraud of R1-billion

Life insurance companies uncovered close on 20 000 fraudulent claims worth more than R1-billion over the past four years. In comparison, however, the life industry settled valid death and disability claims worth more than R19-billion last year alone.

Life industry attracts over R50-billion in new business last year

The long-term insurance industry attracted a whopping R50.2-billion in new individual life business last year, a 14% increase over the R44.2-billion received in 2005.

Greater access to appropriate life products now a reality for low income earners