Category Life Insurance

Provincial nuances from Liberty Claim Statistics in 2018

24 May 2019 Liberty

Every year Liberty's Claim Statistics provides financial advisers and their clients with a clear understanding of the risks we should expect to face on our journey through life. Liberty's Claims Statistics in 2018 contains interesting insights into the risks facing clients in each province.

Johan Minnie, Managing Executive of Customer & Adviser Experience at Liberty says, "We’re committed to helping our clients gain a better understanding of the lifestyle challenges they’re likely to encounter on their life journey. Financial advisers and clients in different provinces need to be aware of the diverse risks facing clients in each area."

According to Liberty's Claim Statistics for 2018 the top five claims in the country are Cancer at 27.9%, Cardiovascular disorders (CVS) at 24.3%, Respiratory disease at 6%, followed by renal disorders at 4.3% and retrenchment at 4.1%.

CVS and Cancer are the top two claim causes in all provinces. KwaZulu-Natal has the highest claims paid for CVS at 26% and the Western Cape saw the highest percentage of claims paid for Cancer at 27%.

Motor Vehicle Accident and suicide claims highest in Gauteng

Gauteng made up 31.2% of all Motor Vehicle Accident claims across the country. The statistics show that 43.1% of these were from Young Parents, 31.0% from Empty Nesters, 17.3% from Established Providers and 8.6% from Young Achievers.

Suicide related claims increased from 78 in 2017 to 152 in 2018, making up 2.51% of all claims. The proportion of suicide claims in Kwazulu-Natal was 21.1% and in the Western Cape 13.2%. Gauteng had the highest number of suicide claims at 39.4% in the country.

Top five occupation related claims

When looking at the occupation of claimants, 11.2% of claims came from managers, 10.5% from business people, 9.9% from directors, 4.9% from pensioners and 4.1% from farmers. It is interesting to note that 3.62% of all claims came from farmers, 32% of which were from the Free State Province.

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