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Category Life Insurance

Sanlam claim statistics highlight the importance of cover for younger South Africans

01 June 2023 Sanlam

Sanlam Risk and Savings paid out R6.38 billion in claims in 2022 – down 23% from 2021’s R8.3 billion.

A marked decrease in Covid-19 linked claims is partially behind this, with the business paying out R2.64 billion in confirmed death and funeral claims in 2021 due to the virus, versus R108.84 million last year. A slight increase in disability claims by younger people is a stark reminder that sooner really is better when it comes to putting cover in place.

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