Age is no longer a risk factor
For many South Africans, financial responsibility no longer follows a predictable path. Many younger people are becoming the primary financial support for parents and extended family long before achieving financial security themselves.
Often the first in their family to graduate or secure a professional career, these clients carry significant financial responsibility – but don’t yet see themselves as needing comprehensive protection.
The rise of the “early provider”
According to Bayaga et al. (2022), over 70% of university students in South Africa are first-generation entrants into higher education. Professional success can then quickly become a family asset.
The rise of first-generation professionals is creating a new protection gap. Younger clients may not yet feel financially secure, but they are already carrying responsibilities that create significant financial risk.
A recent graduate may be supporting household expenses, helping parents nearing retirement and funding a sibling’s education. Their income no longer supports only their own future – it supports multiple futures. Yet many still see life insurance, disability cover and income protection as products for older, wealthier people.
Supporting the family is now the key trigger
Long-term insurance conversations are often triggered by milestones such as marriage, home ownership or parenthood. While still important, these may no longer be the best indicators of the need for protection.
A 28-year-old supporting parents and funding a sibling’s university education may face greater financial dependency risk than a 40-year-old with no dependants. “How old is this client?” should be replaced with, “How many people depend on this client’s ability to earn an income?”
The risk clients underestimate
For younger earners, their greatest asset is not a car, home or investment portfolio – it’s their future earning potential.
Discovery Life’s 2025 claims experience supports this: during 2025, they paid R11.5 billion in claims across more than 9,000 claim events, including R684 million in Income Continuation Benefit claims and R987 million in Capital Disability Benefit claims.
Importantly, two in five Income Continuation Benefit claims were paid to clients aged 40 or younger, while 73% of the total amount paid related to permanent conditions. The reality is simple: illness, injury and disability can interrupt earning ability at any age. For younger providers, the impact extends far beyond their own financial needs and goals, affecting entire families.
Conversation starters that resonate
Younger clients may struggle to engage with estate planning discussions but respond more readily to conversations about responsibility and continuity.
Consider asking:
- Who relies on your income today?
- What would change if you couldn’t work for six months?
- If you could no longer earn an income, who would be affected?
- Would your family’s progress continue without your income?
These questions shift the conversation from products to outcomes.
Looking beyond income replacement
The needs of younger providers often extend beyond replacing a salary with an income protection product. A comprehensive conversation should consider:
- Protecting earning ability through severe illness and disability cover
- Preserving family financial stability through life cover
- Protecting children’s future education needs
- Ensuring efficient estate administration and continuity planning.
The goal should be to protect the people, opportunities and aspirations connected to them, not simply to insure them.
Source
- Bayaga, A., Lekena, L.L., Selepe, C., du Plessis, A., Blignaut, S. and Morar, T. (2022) ‘Academic, social and economic experiences of first-year students: Case study’, South African Journal of Higher Education, 36(2). Available at: https://scielo.org.za/scielo.php?script=sci_arttext&pid=S1753-59132022000200002
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