Life insurers pay out R39.5bn, with 95.6% of death claims honoured
Policies subject to underwriting had the highest payout rates in 2024, reflecting lower fraud and non-disclosure and the value of comprehensive risk assessment.
#deathclaims
Sanlam flags rise in cancer-related claims, particularly for younger policyholders
Breast cancer claims increased by 33%, and prostate cancer claims soared by 41%, the insurer’s data for 2024 shows.
Common reasons life insurers reject death benefit claims
Life insurers paid almost 96% of death and funeral benefit claims last year – with the total payout worth R39.9 billion.
Discovery Life’s claims report: ancillary benefits dominate payouts
Life insurance payouts rose in 2023, while Covid-19 claims fell sharply, indicating the virus’s shift from pandemic to endemic status.
Insurers face pricing challenges amid uncertainty in death and disability claims
Discovery Employee Benefits reports on claim trends in its 2023 financial year.
