Rising cancer and heart disease cases drive R6.62 Billion payout by one of South Africa’s largest insurers
The latest data point to shifting health challenges facing South Africans today
Image: Freepik
Cancer, heart disease, and other lifestyle-related conditions contributed to a significant increase in insurance claims in 2024, with Sanlam Risk and Savings paying out R6.62 billion up 9.24% from the previous year.
According to the company, the latest data “point to shifting health challenges facing South Africans today – evidenced by increases in claims for illnesses like heart disease, certain cancers and musculoskeletal disorders, and mental health concerns.”
Key 2024 claims statistics
- R5.47 billion in death and funeral claims
- R501.6 million in disability, loss of income, and impairment claims
- R650.3 million in severe illness and injury claims
- Over the past six years, Sanlam has paid out more than R36 billion in claims, with 2024 ranking among the highest annual totals second only to the Covid-19 peak in 2021.
- Cancer accounted for 54% of all severe illness claims, with the number of cancer-related claims rising 30% year-on-year.
- Prostate cancer claims in men doubled
- Breast cancer claims in women rose 33%
- Cardiovascular conditions made up 20% of death claims and 17% of disability claims.
- Sanlam paid out more than 99% of all death claims in 2024, with the highest single claim reaching R36.2 million
Dr Marion Morkel, Sanlam’s Chief Medical Officer, pointed out that lifestyle diseases are becoming a major driver of claims.
“The World Health Organisation recommends that annual health screenings and checks start in our 30s and we urge South Africans to prioritise these as part of their yearly routine," she said.
“Cancer claims under the severe Illness category rose by 30% year-on-year – prostate claims doubled in men and breast cancer claims rose 33% in women. These increases, while concerning, are partly the result of the knock-on effect of the Covid-19 pandemic with proactive screenings having been delayed for several years.”
The data also showed a rise in stroke and musculoskeletal disorders among women, including women in the younger age groups (pre-50).
Rhoderic Nel, Sanlam Risk and Savings Chief Executive said currently about 24% of all living benefit claims are from clients younger than 35 years old, with increases being seen in income protection claims.
“Currently about 24% of all living benefit claims are from clients younger than 35 years old, with increases being seen in income protection claims (up from 15% in 2022 to around 25% in 2024). It’s a sobering reminder that life-changing illness can strike at any age. Being financially prepared isn’t something to delay – it’s something to start now.”
mthobisi.nozulela@iol.co.za
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