Funeral policy fraud: know how to protect yourself
While insurers say that the number of claims found to be fraudulent remains ‘stable’, funeral insurance continues to attract a high incidence of fraud and dishonesty.
Life Insurance
Unravelling the tax challenges of implementing IFRS 17 in the insurance industry
Corporate tax experts Yacoob Jaffar and Shaficque Narker unpack some of their observations of the practical implementation challenges.
Life insurance industry stages a remarkable comeback
Life insurance companies have defied the odds, bouncing back with impressive results in 2022, KPMG’s South African Insurance Industry Survey 2023 finds.
Post-termination medical evidence is relevant when considering a disability claim
The Ombudsman for Long-term Insurance rules that Fedgroup Life must pay an employee’s mental illness claim.
Asisa urges policyholders to explore all options before giving up their risk cover
Statistics for the first half of 2023 show a high number of lapses and surrenders as consumers are squeezed by the cost of living.
Life insurers’ claim statistics reflect SA’s high murder rate
Claim statistics for 2022 paint a startling picture of the health and safety troubles facing the country’s youth.
High Court orders Hollard to top-up heart attack benefit pay-out by R1.7m
The payment percentages should apply individually to each event within the policy’s benefit groups, judge finds.
Life insurance claims: five red flags advisers should know about
Indications that great care needs to be taken to investigate the claim before it is paid.
Latest claim statistics provide insights for financial advisers, says Old Mutual
Advisers can reference the data to guide consumers in making informed decisions about risk cover.
Updated: Discovery to petition SCA after losing appeal against R25m disability order
The key issue in the appeal application was the relationship between the insured event and the life insurer’s duty to pay the claim.
The adviser’s role in helping to create a lasting financial legacy
In tough times, it is important to think of your family’s future, and nothing says ‘prepared’ better than drafting your will timeously, planning your estate and leaving a proper wealth succession plan. 1Life launches its latest estate planning product offering.
Discovery files for leave to appeal R25m incapacity pay-out order
The judgment could have far-reaching implications for the life insurance industry, it says.
Discovery must pay R25m to ex-stockbroker who suffered mental breakdown
The life insurer acted unreasonably when it did not consider reports on the man’s incapacity after his policy expired, judge says.
Asisa red-flags high number of policy surrenders and lapses
Policyholders and beneficiaries receive claims and benefits payments worth R578 billion in 2022, the second-highest paid in a year.
Sanlam net results hit record high in 2022
But new business volumes from life insurance operations fall 10%.
Momentum’s interim profit jumps 46% as Covid becomes endemic
However, cash-strapped consumers are putting new business volumes under pressure.
Prudential Authority, 3Sixty Life reach an agreement over curatorship
High Court appoints Fagmeedah Petersen-Cook as the life insurer’s final curator.
