WENDY KNOWLER | Ensuring that insurers pay out can be tricky
According to FNB Insure the policy of a product falls away when one of the joint bondholders reaches the predetermined age limit
Source: timeslive.co.za
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IN YOUR CORNER | Check for age cut-off if you have credit life cover
Credit life insurance is not cheap, especially when taken out on a large loan such as a mortgage.
Source: heraldlive.co.za
SA's life insurers sit on R33.5bn in unclaimed assets
In many cases, particularly with life insurance policies, insurers are often unable to trace beneficiaries who are due a payout because their contact details have not been updated, or the beneficiaries are not aware that they are even listed as a policy beneficiary. In many cases, particularly...
Source: dailymaverick.co.za
South Africans have yet to claim R33.5 billion in unpaid life policy and investment proceeds
In addition to over R47bn held in retirement funds for members and their beneficiaries, life insurers and unit trust companies are holding over R33bn in unclaimed benefits.
Source: news24.com
Life insurance claims show how SA's death toll soared...
Claim statistics from life assurers corroborate what a heavy toll Covid-19 has taken on South Africa. Sanlam says most of the R3.9-billion it paid out in 2021 — almost double what it paid to clients in 2018 — was for death claims. Claim statistics from life assurers corroborate what a heavy...
Source: dailymaverick.co.za