SA life industry shows clean bill of health

South Africans bought life insurance products worth R62-billion in new premiums last year, only 5% less than was spent on new recurring and single premiums in 2008 when R65.5-billion was received. Reporting back on the 2009 sales statistics for the South African long-term insurance industry, Peter Dempsey, deputy CEO of the Association for Savings and […]

Read full story

Protection for the business owner

Without giving it too much thought, we have learnt to protect our assets such as motorcars and households, however we forget about protecting our most important asset – our ability to earn an income. If you were disabled for any length of time and consequently unable to earn an income, how would your day to […]

Read full story

Lump sum or income benefits – what’s right for the client?

While lump sum benefits are popular, the best protection against a potential income loss is an income replacement product. This is because these products provide cover for both temporary and permanent income losses and take inflation into account. That’s the view of Craig Harding, managing director of specialist long-term risk cover provider Altrisk, who believes […]

Read full story

Life industry gets go-ahead to standardise critical illness disclosure

South African life insurers have been given the go-ahead by the Financial Services Board as well as the Competition Commission to standardise their disclosure to consumers of when critical illness products will pay out. Peter Dempsey, deputy CEO of the Association for Savings and Investment South Africa (ASISA), says this is significant since standardised disclosure […]

Read full story

The plan comes first

Much as we love and prize flexibility and choice, there is no easy way to find and take the best risk product. Each decision a potential client is faced with needs to be analysed, data needs to be compared, and each potential product’s benefits and features need to be understood. Along with the flexibility and […]

Read full story

Flexible product offerings and sound advice are vital in meeting income protection needs

While research has shown that there is a significant disability cover gap in the South African market, clients who apply for income protection products should ensure that the cover they purchase match their financial needs. This is the view of Ryan Chegwidden, actuary at specialist long-term risk cover provider Altrisk, who says that flexible product […]

Read full story

Long-term sustainability versus initial affordability

New generation products have revolutionised the local long-term insurance industry and they offer policyholders excellent benefits and value. Part of their innovative flexibility has been accurate pricing and different premium patterns to pay for your policy. Momentum highlights price as an important consideration especially in the current economic environment, and offers flexible premium patterns on […]

Read full story

Double dip risk

From the PSG Konsult Online Media Market Update Stephen Roach from Morgan Stanley Asia recently wrote a column for Bloomberg Markets in which he explored the risk and likelihood of double-dip for the global economy. Policy makers have been successful at putting in a bottom to the most wrenching crisis and recession of the post-World […]

Read full story

Disabled and disappointed

Better education and disclosure during the application process would reduce dissatisfaction with disability benefit pay outs. The key is to be certain that clients understand what they are buying and select policies that match their needs. In addition, the importance of providing accurate information, particularly in relation to occupation and current cover in force, cannot […]

Read full story

Controlled diabetics given access to fully comprehensive life cover and benefits

In a major step in the right direction for diabetics, fully comprehensive life cover is now available for well controlled diabetics with type 1, 1.5 and 2 diabetes. The paradigm-shifting move means well-controlled diabetics are now offered fully comprehensive life cover, as well as disability and critical illness benefits. According to the World Diabetes Foundation, […]

Read full story