Life Insurance

2021 Claim Stats Show What’s Ailing South Africans

Sanlam Individual Life paid R8.24 billion in claims last year – almost double what was paid to clients (R3.9 billion) just four years ago, in 2018.

Three tips for teaching young adults how to handle income

A near-trebling of individual life claims

In a recent presentation on the impact of COVID-19, a leading financial services provider revealed that 0.4% of its clients, totalling more than 15000 people, had succumbed to the disease between March 2020 and May 2022. This shocking statistic played out against the backdrop of 309000 excess deaths in South Africa, with around 488 excess deaths per 100000 citizens through pandemic. Days later the same firm presented its 2021 life claims statistics virtually, to a group of journalists. Riaan van Reenen, CEO at Discovery Life said the insurer had paid out more than 2000 claims in the year to December 2021.

Be inspired to take control of your financial future this National Youth Month

This year marks the 46th anniversary of the Soweto Youth Uprising, when black South African students took to the streets to assert their right to education equality.