Tag Archiveslong term insurance

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%) […]

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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…)

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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 […]

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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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Risk cover doesn’t have to break the bank

There’s no disputing that good health and the ability to earn an income are two of your most valuable assets. Without the two, we cannot acquire the tangible assets we hope to, like cars, houses and future wealth. This is why it’s important to financially protect your health and income. The peace of mind that […]

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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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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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