Tag Archiveslife insurance

Brad Toerien

South African insurance in need of a reality check

South Africans are dreadfully underinsured. The Association for Savings and Investment South Africa (ASISA) has estimated that 14 million families face a combined insurance shortfall of almost R29 trillion should the main breadwinner become unable to generate an income. (more…)

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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…)

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Regard Budler, Managing Executive at Momentum Corporate Client Solutions

How prepared are South African companies for a cancer tsunami?

A cancer tsunami is approaching South Africa and could have a devastating impact on workplace productivity. However, Regard Budler, Managing Executive: Momentum Corporate Client Solutions says that proactive action by employers and their financial advisers can help to reduce the impact. (more…)

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Paul Myeza, COO of OUTsurance Life

How to seriously mess up your funeral insurance

Funeral insurance is one of the simplest forms of insurance on the market in South Africa, yet it is possible to mess it up badly. And at a traumatic time like the death of a loved one, the fewer the surprises the better. Paul Myeza, Chief Operating Officer of OUTsurance Life with 23 years’ experience […]

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Life Insurance

Life insurers paid 99.3% of underwritten life policy death claims last year

Life insurers paid 99.3% of all claims against fully underwritten life policies last year, resulting in benefit payments of R14.4 billion to beneficiaries following the death of a loved one. Fully underwritten life policies are only issued if the policyholder has completed a full underwriting process, which involves a comprehensive assessment of the life insured’s […]

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Lee Bromfield

FNB Life identifies over R160m in unclaimed policies

In a bid to tackle the ongoing issue concerning unclaimed insurance benefits, FNB Life has embarked on an initiative to proactively identify customers who have not submitted claims in the past. FNB Life has identified over R160 million worth of unclaimed policies in its books and has made a commitment to track down nominated beneficiaries, […]

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George-Kolbe-pic1-225x300

Discrediting some of the myths about disability cover

A client’s biggest asset is their ability to earn an income. However, not everyone seems to be equally convinced of the importance of protecting this asset. This is echoed by the Association for Savings and Investments in South Africa (ASISA) which reported a total disability gap of about R16 trillion. (more…)

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Life Insurance

Ombud for Long Term Insurance recovers more than R190m for complainants

In a challenging year the Ombudsman for Long-term Insurance (OLTI) maintained a steady pace and collected R193.3m for complainants amid the strain of staff losses but never wavering from performance standards. (more…)

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