By Donald Dinnie, CEO of Natmed Medical Defence Spare a thought for Momentum and its Ganas Life claim debacle which occurred towards the end of 2018. Momentum was correct in law in avoiding the insured’s life policy for material non-disclosure, a position affirmed by the relevant ombudsman, but lost in the court of public opinion […]
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Life insurers report a spike in fraudulent death claims for 2017
South African life insurers foiled a total of 5 026 irregular claims to a value of R1.13 billion in 2017. (more…)
Most SMEs have no succession plan in case of business partner’s sudden death
Business owners go to great lengths to protect their businesses against theft and other immediate, tangible risks, but risks related to the sudden death, disability or illness of a business partner are often overlooked. (more…)
Disability Cover 101
Disability cover protects individuals in the event that they become disabled due to illness or injury. While it’s not something most people like to think about, life can throw unexpected circumstances their way, from illness to injury – and in South Africa, according to the Profile of Persons with Disabilities in South Africa report released […]
2018 1Life Life Changer Award – Moss Lehlokoa honoured
The DStv Mzansi Viewers’ Choice Awards, hosted this past weekend, saw leading financial services provider 1Life, award Moss Lehlokoa with the 1Life Life Changer Award. The award, now in its second consecutive year, aims to recognise an individual who is making a real difference within their community, by selflessly committing themselves to giving back. “The […]
Positive HIV status no longer a barrier to life cover
When the HIV/AIDS epidemic began gaining momentum in the 1980s, a diagnosis was seen as a certain death sentence, with life insurance companies across the board refusing to cover individuals who tested positive for HIV. (more…)
Ombud urges full disclosure when buying insurance
An insurance claim may be rejected even if the non-disclosed information has no bearing on the occurrence that initiated the claim. The Ombudsman for Long-Term Insurance, Judge Ron McLaren, says there is a common misconception that the non-disclosure of material information by an applicant for life insurance has to be linked to the claim event […]
FSCA issues statement on Momentum/Ganas case
The FSCA says it has noted the recent decision by Momentum to make a payment to the Ganas family in relation to a 2017 life policy claim, after its initial decision was not to pay due to non-disclosure by the deceased of a medical condition. (more…)
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Report points to deterioration in global economic and geopolitical conditions
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MPC decision ‘widely expected’
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Biking to retirement: how cycling connects to better long-term investing
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SARB keeps interest rates unchanged
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December 2018 experienced little of the usual market optimism
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Report points to deterioration in global economic and geopolitical conditions
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Agri SA asks for support and drought assistance in MTBPS
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SA equity market likely to struggle but bargains emerging
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Uncertainty about cryptocurrency and virtual assets in an estate
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Critical illness cover inspired by cancer survivors addresses real needs
