“For many households, the cost of medical scheme membership consumes a significant portion of monthly disposable income - yet it remains a non-negotiable given the state of the public healthcare system,” says Martin Rimmer, CEO of Sirago Underwriting…
"Understanding what you are paying for is key to making the most of your medical scheme membership. Every month, a small portion of your medical scheme contribution goes toward broker fees, which is a regulated component of your premium designed…
"The future of healthcare financing in South Africa is defined by rising costs, rapid innovation, and shifting client demands. Brokers who remain agile by embracing technology, offering personalised solutions, and ensuring gap cover is integrated…
“Bringing medical health solutions into our AI Coach offering is an intuitive move towards helping our clients obtain optimal financial wellbeing. Ongoing research, as well as extensive interactions with Sanlam’s growing client base, has unearthed…
Besa Ruele, a member of the ASISA Life and Risk Board Committee, says the size of the insurance gap is staggering. To put it into context, Ruele points out that South Africa's insurance gap at the end of December 2024 was seven times bigger…
"We believe that in the case of critical illness cover, estimating an average cover per income earner distorts the reality of a highly uneven distribution. In our estimates, more than 85% of earners have no critical illness cover, while a small…
“South Africans are working in new and diverse ways, often juggling multiple income streams. In this evolving world of work, it’s common to find individuals working as freelancers, content creators, and virtual assistants. Research shows that…
“When health costs rise faster than income, the pressure becomes real. And financial education plays a big role in helping people, especially seniors, stay in control of their money,” says Dhashni Naidoo, Consumer Education Programme Manager…
“The impact of the silver economy on insurers will accelerate, leading to a new phase of innovation. We are seeing a generation that is larger, living longer, and arriving at retirement wealthier than we have seen before. With new approaches…
"The Matrimonial Property Act specifies that the accrual should be based on the net estate. If there is a definite tax liability when liquidating or drawing from an asset, it would be fundamentally unfair not to take it into account. There is…
“This is concerning if we consider that these are the same women who form the backbone of South African households. According to our recent Women’s Survey, 48% of South African women are solely responsible for their household’s financial obligations.…
“Pet insurance works similarly to human medical aid, offering different levels of cover based on what you can afford. Insurers typically provide a range of options, from basic accident cover to comprehensive plans that may include preventative…
“Most parents assume that naming their child as a beneficiary guarantees protection of their life assurance benefits. But legally, minors can’t receive policy payouts directly. That’s where things get complicated,” says Johan Strydom, Trust…
"A hybrid public-private model is the most likely outcome due to financing challenges, and significant coverage gaps are inevitable. Quality private healthcare will continue to require additional insurance products to bridge the gaps," says…
Insurance Biz is a New Africa Busines News Services (NABNS) publication launched in 2013 to focus on the insurance industry, investments, financial planning, employee benefits etc. It remains a great resource of news for industry professionals, and for those who seek to learn about the financial sector developments.
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