COVID's impact on Life insurance trends

COVID definitely had a major impact on life insurance claims. COVER discuses the trends with George Kolbe, Head of Life Insurance Marketing and Sibusiso Khumalo, Head of Technical Marketing at Momentum.

Almost half death claims were due to COVID
In 2020 6% were income claims were COVID related but in 2021 it jumped to 20%
Life insurance policy payouts became complex during COVID when the life insured passed away along with the beneficiaries of the policy