Ina Opperman
Business Journalist
3 minute read
31 Aug 2021
5:01 pm

Life insurance claims skyrocket: 309,733 more deaths during pandemic

Ina Opperman

The beneficiaries of the 1,023,083 policyholders who died would have received death benefits of R47.58 billion across all lines of risk business.

Picture: iStock

Life insurance statistics show 309,733 more deaths during the pandemic from 1 April 2020 to 31 March 2021, compared to the death claims statistics for the previous 12 months, when 713,350 policyholders died. According to the Association for Savings and Investment South Africa (Asisa), beneficiaries received R47.58 billion from life insurers after more than a million policyholders died during the 12-month period. Asisa released the latest death claims statistics on Tuesday, which showed 1,023,083 policyholders died between 1 April 2020 and 31 March 2021. The statistics reflect claims made against individual life, group life (offered by employers), credit life and...