Tag Archiveslong term insurance

disability

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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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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disability

Momentum announces 2017 claim statistics

“Making sure that clients have access to optimal financial wellness contributes a great deal towards a positive claim experience. Having paid out claims in excess of R15 billion, over the past five years, Momentum Retail Insurance paid individual life insurance claims to the value of R2.7 billion in death claims, R491 million in critical illness […]

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Judge Ron McLaren, Ombudsman for Long-term Insurance

Not reducing premiums is unfair: Long-term insurance ombud

The Ombudsman for Long-Term Insurance, Judge Ron McLaren, has expressed concern about the unfair practice by some insurers who do not reduce the premium when the benefits are reduced. (more…)

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