Life Insurance

FNB Insure pays R700 million in pre-emptive life insurance claims

Rest assured; your clients’ life policies will pay out

South Africa’s life insurers paid out R599 billion in claims and benefits in 2023, affirming the value of life insurance products in protecting consumers and their families from life-changing death and disability events, and the industry’s role in helping individuals to save for retirement.

Life cover fraud – a reality in South Africa – here’s what you need to know to protect yourself

Life cover fraud has been in the spotlight following the harrowing case of former policewoman Rosemary Ndlovu, who was sentenced to life in prison for orchestrating the murders of six family members between 2012 and 2018 to reap insurance payouts.

Investors in Section 12BA tax incentive warned about what to look out for

Many South Africans are taking advantage of Section 12BA of the Income Tax Act which offers a 125% SARS-approved tax deduction.