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Insurance fraudsters lodge R1.3bn in claims

By Staff Writer

From Fin24 

The life insurance industry managed to detect and prevent some 21 000 fraudulent insurance claims over the past five years, the Life Offices' Association (LOA) said on Thursday.

"Had these claims not been identified as fraudulent and prevented, losses would have amounted to more than R1.3 billion," said Gerhard Joubert, CEO of the LOA.

This was the first time that the industry had been able to present a five year view of claims fraud statistics.

Justmoney.co.za says:

Life insurance is a vital form of protection to cover you and your loved ones in case the family bread winner is unable to work due to sickness or death.

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