Billions paid out as life insurers settle the majority of claims
Zuko Komisa Image | Adobe Stock South African life insurers paid out R39.5 billion in death and funeral benefits in 2024, settling 95.6% of claims. A total of 914 258 claims were processed by ASISA members, with 873,825 being successfully paid. The 40,433 claims that were declined were mainly due to dishonesty, fraud, or contractual exclusions like suicide within the first two years. Life insurers in South Africa, represented by […]