Old Mutual Pays Out R14.6 billion in Claims as It Nears R100 Billion Milestone
In 2025, Old Mutual demonstrated its commitment to supporting policyholders during life-changing events by paying out R14.6 billion in claims.
This figure reflects Old Mutual’s sustainability and reliability as the world recovers from unprecedented health crises. Although lower than the Covid-19-impacted peak of R21.3 billion in 2021, the 2025 figure shows that Old Mutual’s claims have stabilised since 2021.
Since 2002, Old Mutual has paid an exceptional R98.3 billion in claims, and the company is set to surpass the R100 billion milestone in 2026. In 2025, Old Mutual paid an average of R27.5 million in claims every working day. The overall payout ratio is 94%, while the death claims payout ratio is even higher at 98%. These figures highlight Old Mutual’s promise to help clients navigate life’s most difficult moments with confidence and peace of mind.
“Our ongoing drive to deliver ensures our customers can rely on us in their times of need,” says Arno Jansen van Vuuren Head of Product for Retail Marketing from Old Mutual. He also urged South Africans to take a close look at their lifestyle choices, as statistics paint a haunting picture of the impact of unhealthy choices and obesity on quality of life. “The public is urged to prioritise healthy lifestyles, regular medical screenings, and early intervention to reduce risk,” he said. “We also encourage South Africans to review their policies regularly to ensure they and their families are fully protected.”
Claims paid per product range:
• R5.6 billion in death benefits
• R320 million in disability benefits (income and lump sum)
• R827 million in severe illness benefits
• R2.9 billion in non-underwritten benefits
• R4.8 billion in corporate benefits
Severe Illness: Key Trends
In 2025, 68% of Severe Illness claims were related to the “Big 4”: cancer, coronary artery bypass graft (CABG), heart attacks, and strokes. While cancer has been and remains the largest contributor to claims, Jansen van Vuuren noted that the percentage of “Big 4” claims relative to other claims is decreasing over time.
Disability Income Claimants Becoming Younger
Disability lump sum claims account for 85% of all disability claims, amounting to R272,836,261. The top three contributors to disability lump sum claims in 2025 were:
-Musculo-skeletal Disorders (like a spinal injury) at 24%
-Central Nervous System Disorders (like paralysis or a stroke) at 24%
-Cancer and tumours at 15%
Compared with 2024, disability income claimants are becoming younger and more likely to be male. Compared with 2024, disability lump sum claimants are becoming older and more likely to be female.
Non-Communicable Diseases (NCDs) Risks on the Rise
“Risk factors for NCDs include heredity factors and the environmental influencers. Genetic risk cannot be changed, but we can influence our environment. Environmental factors include obesity, diet, physical inactivity, smoking, and alcohol use,” said Jansen van Vuuren.
A 2023 WITS article states that half of adult South Africans are classified as overweight or obese.[1] Screening supports early detection, treatment, and, in some cases, prevention of NCDs. Risks include pollution, stress, smoking, poor nutrition, inactivity, body weight, alcohol use, diabetes, cholesterol, and blood pressure.[2]
Tobacco use remains a major health risk, causing millions of deaths each year and adding to families' financial hardship.[3]
To this end, Old Mutual urges South Africans to avoid tobacco and to seek help to quit, as smoking increases the risk of severe illness and complicates claims outcomes. Further, Jansen van Vuuren notes, “Financial advisers are reminded to discuss lifestyle risks, such as obesity and tobacco use, with clients, as these factors affect both health outcomes and insurance cover.”
Financial advisers are also encouraged to review client portfolios regularly, monitor changes in health or lifestyle that may affect cover, and ensure clients are adequately protected against today’s leading health risks.
Healthy Choices and Policy Awareness
“In addition to raising awareness of healthy lifestyle choices to prevent illness, Old Mutual urges policyholders to read insurance contracts carefully or speak to their financial adviser to ensure they understand policy terms and conditions. This helps to avoid disappointment when making a claim. While it is never our intention to decline a claim, most unpaid claims result from fraud or misunderstandings about cover, underscoring the need for vigilance among clients and financial advisers,” concludes Jansen van Vuuren.
To improve awareness of the claims process, understand what people like you claimed for, we encourage you to use our user-friendly claims tool at https://www.omclaimstool.co.za/.
[1] https://www.wits.ac.za/news/latest-news/opinion/2023/2023-07/half-of-all-south-africans-are-overweight-or-obese.html
[2] https://www.statssa.gov.za/?p=16729
[3] https://www.who.int/news-room/fact-sheets/detail/tobacco
