Liberty's 2022 Statistics reveal the re- emergence of cancer and lifestyle related conditions as the leading causes of c
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GUEST – Tom Crotty, Lead Specialist, Technical Marketing: Risk Proposition Management, Liberty
As the world recedes to normalcy post the Covid- 19 pandemic, cancer has re-emerged as the leading cause for claims, according to insurer, Liberty's 2022 claim statistics. Last year Liberty paid out R6.98 billion in claims, primarily from its flagship Lifestyle Protector cover as well as other retail life insurance policies. These claim pay-outs were made to some 31,808 individuals and their beneficiaries. This represents a 31% decrease from 2021 when the insurer paid out R10.12 billion in claims. The reason for the decrease can be attributed to the reduction in claims arising from the COVID-19 pandemic. Claims related to the death of a client decreased by R3.14 billion, highlighting the severity of the pandemic during 2021. More specifically, there were only 191 COVID-19 related claims identified in 2022, compared to 1058 in 2021.
As the world recedes to normalcy post the Covid- 19 pandemic, cancer has re-emerged as the leading cause for claims, according to insurer, Liberty's 2022 claim statistics. Last year Liberty paid out R6.98 billion in claims, primarily from its flagship Lifestyle Protector cover as well as other retail life insurance policies. These claim pay-outs were made to some 31,808 individuals and their beneficiaries. This represents a 31% decrease from 2021 when the insurer paid out R10.12 billion in claims. The reason for the decrease can be attributed to the reduction in claims arising from the COVID-19 pandemic. Claims related to the death of a client decreased by R3.14 billion, highlighting the severity of the pandemic during 2021. More specifically, there were only 191 COVID-19 related claims identified in 2022, compared to 1058 in 2021.
