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SA insurers hit by rising disability claims amid economic stress, late cancer diagnoses

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While everyone is talking about Covid-19, the top two reasons for death claims at Momentum Life in 2020 were cardiovascular diseases and cancer.
Photo: Getty Images
While everyone is talking about Covid-19, the top two reasons for death claims at Momentum Life in 2020 were cardiovascular diseases and cancer. Photo: Getty Images

Delays in check-ups and possible diagnosis of illnesses like cancer during the lockdown, elevated stress levels and an economic downturn could create a perfect storm of disability claims, insurers warn.  

Sanlam Group Risk CEO Michele Jennings said he was worried there were too many developments that usually exacerbated disability claims happening all at once.  

Doctors are diagnosing cancers at later stages as many patients delayed check-ups during the pandemic. The economic downturn also usually sees more employers put their employees on disability leave.  

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