The Association of Savings and Investment South Africa (ASISA) recently released death claims figures which left no doubt as to the true impact of Covid-19 when it comes to mortality rates. Industry-wide figures from South African life insurers...
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Life insurers see a 44% jump in death claims
Death claims statistics released recently by the Association for Savings and Investment South Africa (ASISA) have shown a massive 44% jump in lives lost with an overall increase of 64% in the value of claims paid compared to the previous year....
Listen: Why insurers want us to be vaccinated
When it comes to understanding the risks in a society, insurers generally offer the best insights. Insurance companies do not have to pay out for deaths that did not happen, and they will apply a risk rating to a behaviour or health status that...
E-cigarettes and your life insurance policy
Clyde Parsons, Actuarial Executive at BrightRock, explains why regular users of e-cigarettes are charged smoker rates by life insurers, and what you can do about it. For decades now, we’ve known that smoking is bad for our health – the research has...
Don’t let your life policy lapse
It is important to understand how your life policy works and what your options are if you find that you are no longer able to afford your premiums. While the outbreak of COVID-19 raised awareness around the need for life cover, especially for those...
Video: Joint life insurance
A recent survey found that middle-class households are cutting back on insurance and medical cover as their budgets come under pressure. However, if you have a family, life insurance is essential to provide for them if something happens to you. If...
Does joint life cover make sense?
The recent Old Mutual Savings and Investment Monitor found that middle-class households are cutting back on insurance and medical cover. However, if you have a family, life cover is essential to provide for them if something happens to you. If you...
Listen: Why a blood test could save you money
By having a blood test you can significantly reduce your life cover premium. So why are people so reluctant to do so? Maya Fisher-French (@mayaonmoney) and Mapalo Makhu (@womanandfinance) chat to Liberty expert Lisa Gibbon to understand what risk...
Video: Shopping around for mortgage insurance
When you take out a mortgage or bond, you will be required to take out life insurance. This is so that if something happens to you, the insurance will cover your mortgage repayments. This usually includes death, disability and possibly retrenchment...
Cost effective cover for your domestic worker
*This content is brought to you by Simply Financial Services. There are approximately 1 million people employed as domestic workers in South Africa. And yet, according to Namhla Duma, Director at Premium Domestic Services, insufficient salary was...
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Will fintech make life cover cheaper?
New financial services companies are starting to challenge the status quo through technology that enables them to engage with customers directly and use data collected through the use of smartphones, rewards programmes and social media to improve the application and...
Can I get life insurance after a cancer diagnosis?
Modern medical advances have made it possible for more and more people to beat cancer. When it comes to breast cancer, early detection and diagnosis mean that survival rates have gone up dramatically. In fact, almost two out of every three women with breast cancer now...
Insurance: protect your future income
Episode 4 of the Change In your Pocket series deals with protecting your biggest asset: your future income. https://www.youtube.com/watch?v=aQHqXXrhaoc – Video supplied by BrightRock Welcome to The Change Exchange, where we are helping you find ways to make the most...
Funeral cover vs life insurance
Albert Theyse, Head of Sales at O’Keeffe & Swartz explains that life insurance covers the important long-term needs for your family in the future when you are no longer around to provide ongoing financial security. Funeral cover provides the peace of mind of...
Is life insurance really for life?
The inefficient structure of existing life insurance products impact value and sustainability of cover for clients. BrightRock’s needs-matched life insurance addresses these shortcomings by pricing cover correctly for the term and trajectory required. Since its launch...
The high cost of death
Why death is killing us financially “Around 85% of people’s debt problems start with a death in the family,” says debt counsellor Deborah Solomon. Despite a relatively high penetration of funeral policies, Solomon says the cost of death in families is plunging many...
How to fund your child’s education
When I was in grade one at a government school in 1984, my school fees for the year were 25 cents. I have the receipt to prove it! When my son started grade one last year though, we had to fork out just under R30 000 for the year. Ouch. We’re looking at a cost of...
Choosing the right life insurance
You need to ensure that you have the correct type of life insurance policy in order to leave a legacy. In order to make insurance more affordable insurers have introduced age-rated premiums where you receive an initial discount on your life insurance cover with...
Using life cover to leave a family legacy
Every parent would like to be able to leave a family legacy to help their offspring get an advantage in life and have a greater chance of creating real wealth in the family. Leaving an inheritance is one of the main goals identified by retirees when it comes to...
Every woman should have her own financial adviser
Women have a responsibility to themselves and their family to remain involved in the family’s finances. A recent conversation between friends highlights so clearly the need for married women to get good financial advice. The discussion was about life insurance and my...