LIBERTY, a life insurer, has announced that in 2023 it paid out R6.72 billion in valid claims to individual clients, their families, and beneficiaries.
According to the group, this amounts to R25.85 million every working day.
“Although this is 3.72% lower than in 2022, these statistics still mirror concerning trends in health and lifestyle risks facing South Africans,” it said.
Liberty said the top claim conditions in 2023 were spread across cancer, cardiac and cardiovascular diseases and disorders, respiratory disorders, strokes, and traumatic injuries.
“Cancer remains the leading cause of claims, accounting for approximately 32.3% of all our claims,” the group said.
The insurer said that in 2023, under its lifestyle protection pillar of benefits which covers the risk of a critical illness diagnosis, it saw a 10.8%…