Stress, anxiety, and depression are taking a heavy toll on South Africans. According to Liberty’s 2023 claim statistics, mental health challenges are emerging as a health risk and in light of this, the insurer is encouraging South Africans to prioritise their mental wellbeing and to seek the necessary help when faced with life changing events.

The statistics reveal alarming trends:

• Men lodged 52.6% of claims related to depression and anxiety, while women accounted for 47.4%.
• Suicide was cited in 60% of all claims for mental disorders.
• Depression and anxiety contributed to 17.7% of all claims (up from 16% in 2022).
• Dementia appeared in 12.5% of mental health-related cases.
• November 2023 saw a sharp rise in claims, with nearly 20% of the year’s mental disorder claims being lodged.

“What’s particularly concerning is that suicide claims increased by 50% compared to 2022, and South Africans reporting stress to the extent that they cannot work is 11% higher than the global average of 39%, as noted in the Ipsos World Mental Health Day survey,” says Dr. Reinhardt Erasmus, Senior Medical Officer at Liberty.

A growing crisis

Once a taboo subject, today, psychiatric and neurological disorders are among the top five categories for claims within Liberty’s Corporate Benefits division. This highlights the ongoing challenge posed by economic and social pressures, which are likely to drive up mental health claims even further.

"Unemployment, for example, often leads to feelings of self-doubt and hopelessness. Exposure to violence, trauma, and failed relationships are other frequently cited triggers of male suicide," says Erasmus.

Mental health and physical wellness

A lesser-known consequence of mental health issues is their direct impact on physical health. "According to the World Health Organization, conditions like depression and anxiety can lead to cardiovascular problems, weakened immune function, and gastrointestinal issues," Erasmus explains. "Depression is often linked to chronic diseases such as heart disease and diabetes."

The importance of disability insurance for mental health

One of the best defences against the debilitating effects of mental health conditions, especially in the workplace, is comprehensive insurance coverage. Disability insurance not only provides financial relief but also safeguards a family's future in case the breadwinner is unable to work.

“If someone’s employment is cut short due to mental health challenges, the financial consequences can be immediate and devastating, increasing stress and worsening their condition,” says Erasmus. "Disability insurance, tailored to meet individual needs, can provide both short-term and long-term coverage, ensuring ongoing support for several years."

Tips for clients to prioritise mental health

• Seek professional help: Don’t hesitate to consult a mental health professional if you’re experiencing prolonged stress, anxiety, or depression. Early intervention can prevent further complications.
• Manage stress: Incorporate stress-relieving activities like regular exercise, mindfulness practices, or hobbies that promote relaxation into your routine.
• Build a support network: Surround yourself with friends, family, or community groups who can provide emotional support during tough times.
• Consider financial safeguard: Ensure you have disability insurance that covers mental health conditions, providing financial security for you and your family in case of incapacitation.
• Promote work-life balance: Set boundaries between work and personal life to reduce burnout and maintain mental wellbeing.

“In today’s socio-economic climate, being covered for mental health conditions should be seen as an investment in your future security,” concludes Erasmus. "Disability insurance ensures that a family’s well-being remains protected, even if mental health challenges arise."