long-term insurance RSS feed for this section

Brad Toerien, CEO, FMI

Mind The Gap

According to the most recent ASISA gap study, South Africans are dangerously under-insured with only 47% of the life cover they’ll need, and only 45% of the disability cover they’ll need. However, when you look a little closer, a further problem emerges – the vast majority of disability cover sold are lump sum benefits (77%) […]

Read full story
womenshealthsmall

Time for women to take control of their financial future

By Grace Winter, Head of Brand & Communications at FMI. As South African women, what lives do we want to lead? How do we plan for those lives? And how do we make smart financial decisions that support our plans? (more…)

Read full story
disability

Ombud raps insurer on knuckles for poor service

The Ombudsman for Long-Term Insurance, Judge Ron McLaren, has criticised Alexander Forbes Life for the poor handling of a disability claim that caused the complainant to suffer inconvenience and distress. (more…)

Read full story
funeral

Long-term insurer launches customisable funeral plan

The top-scoring life insurer in the South African Customer Satisfaction Index (SAcsi) for three years running, Metropolitan has unveiled its new Funeral Solution which has personalisation at its core – giving policyholders the flexibility to customise their funeral based on their needs and pocket. (more…)

Read full story
funeral

‘South Africans pay too much for funeral cover’

Peter Castleden, CEO of digital insurer Indie believes that South Africans deserve better than what the funeral insurance industry is currently offering. “Funeral cover has been a one-size-all product that appears cheap on the surface, but can be incredibly expensive in relation to other cover,” says Castleden. “When selling funeral policies with an average premium […]

Read full story
gareth-friedlander

Millennials face a demonstrable insurance gap of R15 trillion

South Africa’s young adults could bridge the growing life and disability insurance gap by diverting a fraction of their monthly lifestyle expenditure to financial services products. According to Gareth Friedlander, Head of Research and Development at Discovery Life, it would take as little as 4.6% of the average millennial’s salary to revolutionise the insurance coverage […]

Read full story
insurancefeat

Changes to insurance laws come into effect

Amendments to insurance legislation aim to give more South Africans the opportunity to cover themselves and their assets and will provide for greater protection for policyholders, including a 48-hour turn-around time for funeral pay-outs. The Insurance Act, commencing on 1st July 2018, was passed by the National Council of Provinces in December. It brings with […]

Read full story
Regard Budler, Head: Product Solutions, Momentum Corporate

An industry first for group insurance in SA

In a complex, intimidating industry like insurance, it is heartening when an innovative customer-centric solution with clear benefits for financial advisers and their clients comes along. This is what financial advisers can expect from the Smart Underwriting process Momentum Corporate recently launched, says Regard Budler, Head: Product Solutions, Momentum Corporate. (more…)

Read full story