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Is leaving a legacy on your bucket list?

09 September 2020 | General

Most people have a unique bucket list of adventures and achievements they are keen to experience in their lifetime. Some include trekking up Mount Kilimanjaro, others long to take a hot air balloon ride over Cappadocia in Turkey or watch the Monaco Grand Prix live in person.

Life and medical insurers turn to excess mortality to measure the severity of pandemic

08 September 2020 | COVID-19

A close study of excess mortality statistics is helping to fill in the blanks around the extent and severity of the COVID-19 pandemic. José Nicolas, Head of Strategy and Planning for Sub-Saharan Africa at global reinsurer Munich Re, believes that a clearer picture of the tragedy will emerge over time. This view emerged during his presentation to a Munich Re of Africa life insurance seminar.

The burning platform for long-term insurance

02 September 2020 | General

If the COVID-19 pandemic has done anything, it’s exposed the shortcomings of the long-term insurance industry. Precious few insurers were prepared for a crisis that would result in a local and global lockdown, leaving many policyholders without jobs, and likely even more customers facing hard decisions between what they can afford and what they should prioritise.

Leading income protection provider makes it easier to put income first

02 September 2020 | Dread Disease and/or Disability / Critical Ilness

Ask a South African consumer what life insurance is, and they will most likely respond that it is a policy that pays out a large sum of money upon an insured’s death. This narrow view of life risk benefits is an unfortunate legacy of an industry that was traditionally geared towards selling lump sum life and disability covers. Financial advisers are also guilty of a ‘lump sum’ focus and will frequently offer their clients a bundle of death, disability, and severe illness benefits before considering the need to protect income. Nowadays more and more advisers and product providers are realising that a monthly income stream is the most important asset a potential insured has. And this asset is larger the more paycheques remain until an individual’s retirement.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

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