Sanlam pays nearly R4 billion in claims in 2018

Sanlam paid out R3,9 billion in claims last year, with R3,2 billion being for life cover, R329 million for income cover and R323,5 million for trauma and injury. The company also maintained its more than 99% admittance of death claims for the fifth consecutive year, of which 25% were linked to cardiovascular disease.

Our claims statistics provide crucial current and historical data that enables us to identify upward trends. This year, we found cardiovascular disease to be the leading cause of death claims. This aligns to the Heart Foundation’s 2017 report, which identified that 18% of deaths in South Africa are caused by heart disease and strokes. That’s 225 fatalities a day, with 10 adults suffering a stroke every hour.

Accidental death (18%) was the second leading cause of death claims on our Matrix risk product, with 39% of these being attributed to motor vehicle accidents. Cancer (25%) was the biggest factor behind lump-sum disability claims in 2018.

As in previous years, cancers and tumours were also the main cause for severe illness claims. Bones, back and connective tissue issues accounted for most (30%) income protector claims – a figure that hasn’t changed since 2017.

For the full breakdown of the latest claim statistics, click here.