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Press Archive »

Ease of funeral claims in a growing claims environment

Published: Wed, 14 Apr 21

Wednesday, 14 April 2021 - International trends show a significant possibility of a resurgence of Covid 19 hitting South Africa in the next few months. Considering the significant increase in life insurance and funeral claims over the past year, and especially during the second wave, it is now more crucial than ever ...
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First edition of the Ombudsman’s Briefcase for 2021

Published: Tue, 06 Apr 21

In our first edition of the Ombudsman’s Briefcase for 2021 we take this opportunity to wish you a safe and prosperous year ahead. We face this year with a little more hope having emerged from a second wave of the coronavirus and with the COVID-19 vaccine being rolled-out. In this edition we look at insurance ...
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POPIA 101

Published: Thu, 01 Apr 21

All businesses with employees, customers and suppliers must comply with POPIA, which comes into effect on 1 July 2021. Here is a practical guide to the most important aspects   With the commencement date of the Protection of Personal Information Act 4 of 2013 (POPI) of 1 July 2021 fast approaching, businesses ...
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Hollard Group’s life insurance pay-outs soar to historic highs during Covid-19 pandemic

Published: Thu, 25 Mar 21

The Hollard Insurance Group, South Africa’s largest privately owned insurance group, today reported that it has paid out the highest death benefit claims in its 41-year history in the period since March 2020. 6 billion in death benefit claims were made between April 2020 and January 2021, significantly higher ...
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Life insurers pay more than half a trillion Rand to policyholders and beneficiaries in 2020

Published: Mon, 08 Mar 21

Policyholders and beneficiaries received claims and benefit payments worth R522. 7 billion from South African life insurers in 2020. According to the long-term insurance statistics released today by the Association for Savings and Investment South Africa (ASISA) this represents an increase of R31. 7 billion from the ...
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Insurer Liberty adapts its education benefits to the realities of the pandemic

Published: Fri, 05 Feb 21

The COVID-19 pandemic has for now, not only changed the way the traditional schooling system functions but the cost of education as well. With home-schooling becoming the norm, more parents are opting to pull their children out of traditional schooling and choosing full-time home-schooling rather, a trend ...
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Introducing our new eNews App

Published: Wed, 13 Jan 21

Insurance Gateway is thrilled to introduce our brand new electronic newspaper. The final product is available as both a mobile and desktop application. Our aim with the app was to develop an electronic newspaper that would dynamically reflect and complement our more extensive Insurance Gateway website. The pages are ...
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Rule 19 – how it affects advisers and the industry, and are there tools to support advisers in complying?

Published: Mon, 11 Jan 21

In September 2019, Rule 19 of the Policyholder Protection Rules underwent critical changes impacting insurers and financial advisors. The changes in relation to the termination of long-term policies brought about the inclusion of the Replace Advice Record (RAR), which applied when policyholders were replacing specific ...
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1Life recognised as the top direct life insurer for the 10th year running

Published: Tue, 15 Dec 20

1Life Insurance has maintained its position as South Africa’s leading direct life insurer, with the largest market share, for the tenth consecutive year, within the long-term insurance industry. This is according to the annual Swiss Re Individual Risk Market New Business Volume survey. “There ...
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Insurance Ombudsman determines non-advice policy is void

Published: Wed, 09 Dec 20

An insurer cannot hide behind the contention that a policy sold on a non-advice basis in the lower income market places the onus on the policyholder to be familiar with exclusions, the Ombudsman for Long-term Insurance Judge Ron McLaren said. Ruling recently in a matter concerning such a policy, he said ...
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1Life stats confirm the importance of healthy living amidst a possible second wave

Published: Mon, 16 Nov 20

Mortality rates obtained by 1Life indicate that there has been a 233% increase in deaths between July and September this year, compared to last, with a massive increase in respiratory-related deaths. “Covid has taken its toll on South Africans – as it has the world over – and it is clear ...
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FOR YOUR EYES ONLY-POPIA ESSENTIALS

Published: Thu, 12 Nov 20

The Protection of Personal Information Act (POPIA) has been in the making for a while, with certain aspects already introduced. It is finally set to come into full effect after President Cyril Ramaphosa said, in June, that the effective date for compliance is 1 July 2021, and most organisations will have much to do ...
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The importance of having a Will

Published: Thu, 29 Oct 20

Drawing up a Will can be a very sensitive and uncomfortable subject but as death is inevitable, it is always better to be prepared. As a legal document expressing your last wishes, a Will may well be the most important document that you will ever sign. And while it is recommended that you use the services of a professional ...
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What will Finance Minister Tito Mboweni's 2020 Medium Term budget offer?

Published: Thu, 22 Oct 20

South Africa's economic recovery plan The plan is aimed at fast-tracking the recovery of the economy from the devastation caused by the COVID-19 pandemic. It outlines government's plan to revive the economy with short and long-term interventions. If the plan is executed as presented, it is expected to ...
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Beneficiaries of fully underwritten life policies receive R16.7 billion in death benefits in 2019

Published: Wed, 07 Oct 20

South African life insurers paid 99% of all claims against fully underwritten individual life policies in 2019 to a value of R16. 7 billion. The 2019 annual death claim benefit statistics for fully underwritten individual life policies, released this week by the Association for Savings and Investment South Africa ...
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Expert financial advice still recommended – especially in uncertain times

Published: Mon, 05 Oct 20

There's plenty of evidence to prove that a Financial Adviser in your life dramatically increases your ability to manage your finances, especially in challenging circumstances. According to the research company, Columinate, 70% of people using an adviser are more confident about their financial situation ...
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Review your will to account for COVID-19, advises JustMoney

Published: Mon, 05 Oct 20

The COVID-19 pandemic is a timely reminder of the importance of ensuring your personal finances are in order – and a key component of this is an up-to-date will. This legal document, that should take into account the current value of your assets, with instructions on how you wish to allocate them, is particularly ...
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SANLAM PAYS OUT OVER R162-MILLION IN COVID-19 CLAIMS

Published: Tue, 22 Sep 20

South Africa: 22 September 2020: R162-million of COVID-19 related claims were paid by Sanlam Individual Life between March and August 2020; with over R17-million paid to clients for sickness and income protection benefits and over R144 million paid in death and funeral claims.   Petrie Marx, Product ...
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LIBERTY MAKES BOLD DECLARATION IN NEW BRAND REFRESH

Published: Mon, 14 Sep 20

With a pay-off line 'In it with you' the insurer says the time to rely only on just its innovative heritage is gone. It’s time to evolve, to show up better, to connect more and truly be a life partner – especially in times when it feels like the world has turned upside down   September, ...
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One of Mzansi’s biggest fundraising events in history gets SA’s sporting legends racing for change!

Published: Wed, 26 Aug 20

South African NGO, Events to Aid, in partnership with needs-matched life insurer, BrightRock, today launched one of the biggest fundraising initiatives in the history of South Africa – The BrightRock Battle of the Sports! This event will see 12 of Mzansi’s leading cricket, rugby, soccer, and running heroes ...
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