Living benefits overtake death claims as Discovery Life payouts shift
Discovery Life’s 2025 statistics show 65% of payouts go to living benefits – advisers must rethink risk, product design, and client conversations.
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Sanlam share dips after results despite strong operating growth
Sanlam reported record new business volumes and strong client inflows in 2025, but several weaker headline indicators drew investor attention following the results release.
Life cover nominations still valid despite administrative slip
A signed nomination received during the policyholder’s lifetime satisfied the contractual requirements despite an incorrect policy number.
Judgment sheds light on beneficiary changes in living annuities
Was a beneficiary nomination signed under a power of attorney and submitted after death valid?
Affordability pressures to drive innovation as insurance gap hits R50 trillion
The Insurance Gap Study finds SA’s life and disability shortfall has swelled to R50.4 trillion, with the average earner holding only 39% of the cover their dependants would need.
Huge shortfall in critical illness protection leaves most income earners exposed
ASISA’s research shows formally employed South Africans face a major liquidity risk: R4 trillion in earnings versus only R1.1 trillion in critical illness cover.
Income protection leads Bidvest claims as clients face higher short-term risks
According to Bidvest Life’s 2024 Claims Report, younger clients and women accounted for most income protection claims – signalling where advisers’ risk focus may need to shift.
Life insurance sector consolidates its recovery in 2024
KPMG’s survey shows broad improvement across major life insurers, driven by moderate premium growth, stronger investment returns, and efficiency gains.
Slight increase in life insurance policies in first half of 2025
Recurring-premium risk policies grew modestly, while the number of endowment policies and retirement annuities declined, ASISA statistics show.
Momentum doubles down on IFAs – advice at the heart of its impact strategy
CEO Jeanette Marais says Momentum will ‘invest aggressively in advice’ in its effort to strengthen VNB and long-term competitiveness.
Old Mutual lifts earnings by 29% on strong markets and underwriting gains
Results from operations rose 16% to R4.94bn in the six months to June, boosted by a 71% surge in Old Mutual Insure’s contribution.
Sanlam’s new business up 7% as insurance and inflows offset flat life sales
The net result from financial services grew by 20% to about R8.08bn, with general insurance the standout in the six months to the end of June.
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.
Increase in cases of fraud and dishonesty detected by ASISA members
There was a significant decrease in actual losses involving fraudulent and dishonest life insurance claims compared with 2023.
Old Mutual’s risk benefit payouts rise by 4.3% to R14.7bn
The ‘big four’ illnesses made up 73% of severe illness claims; cancer alone accounted for 68%, driven by breast and prostate cancers.
NFO’s Life Division recovers over R202m for consumers in 2024
Complaints about life-benefit payouts climbed to 36% of the Division’s cases, from 34% in 2023.
Appeal Tribunal clarifies life insurer’s duty in beneficiary nomination
The ruling highlights the need for the timely communication of beneficiary changes in life insurance policies.
