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The value of life insurance and the role that financial advisers and planners play in ensuring South Africans are appropriately insured against death, disability and critical illness events is in the spotlight again, courtesy of the 2025 Claims Statistics from Momentum Life. For 2025, the insurer paid claims totalling R6.88 billion across its retail life business, with R5.92 billion paid by the Myriad product range.
November is Disability Rights Awareness Month, a timely reminder that inclusion in South Africa goes beyond ramps, policies, and representation. It’s also about financial inclusion: ensuring that people living with disabilities have access to products and advice that protect their income, independence, and dignity.
In the aftermath of a major health event such as cancer or a heart attack, the last thing most people are prepared for is making financial decisions. But for those who had the foresight and guidance to take out severe illness cover, this is also the moment that careful planning pays off. A life-changing, tax-free sum lands in their bank account, unrestricted in use and immediate in impact.
Momentum Life Insurance’s 2024 claim statistics reveal that nearly 70% of women’s critical illness claims were for those in their 30s, 40s, and 50s, their prime working years. It’s a stark reminder that serious illnesses like cancer or heart disease aren’t just concerns of old age, but a pressing financial threat much earlier in life.
Do you think short-term insurance broking will survive the AI plus humanoid robotics age?