Unclaimed insurance benefits run into billions, but payouts are increasing
South Africa had R88.5-billion in unclaimed assets in 2022, with unclaimed insurance benefits making up 38% of the total.
Source: dailymaverick.co.za
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Discovery Life payouts for 2023 shows more suicides
In 2023, Discovery Life paid claims to the value of R8.4 billion across both group risk and Individual life policies.
Source: citizen.co.za
Life assurance industry returns to pre-Covid solvency levels
The life assurance industry dished out R599-billion last year, boasting a solvency buffer twice the Prudential Authority's requirement.
Source: dailymaverick.co.za
Discovery: Unknown name on client's life policy 'honest mistake'
Insurance giant Discovery has apologised to a client for listing an unknown person as a life insurance beneficiary, describing it as “an honest mistake”.
Source: jacarandafm.com
Cash-strapped SA consumers are ditching their insurance policies
The Association for Savings and Investment South Africa (Asisa) revealed this week that beneficiaries and policyholders received R287-billion in claims and benefits from South African life insurers in the first half of 2023.
Source: dailymaverick.co.za