Discovery recently published their Discovery Life assurance claims insights for the period from January 2016 to December 2016. According to the insurer a total of 20 247 claims were paid over the period, amounting to R3.2 billion. This brings the total amount that Discovery Life has paid out to date up to R18.7 billion.
From January to December 2016, claim pay-outs were split between the following benefits:
- Life Cover: R1 662 698 008
- Severe Illness Benefit: R647 725 506
- Capital Disability Benefit: R552 794 490
- Income Continuation Benefit: R238 022 230
- Health Plan Protector: R83 676 131
- Global Education Benefit and Family Benefits: R23 450 636
- Overhead Expenses Benefit: R8 576 159
- Other: R6 050 318
- Funeral Benefit: R5 042 956.
Health insights in relation to region
In the Western Cape, cancer was reported to be the main cause of death. “Cancer-related death claims from this region were 22% higher than the national average. Cancer-related disability claims were 44% higher than the national average, and severe illness claims 13% higher,” explained Discovery Life.
Kwa-Zulu Natal on the other hand showed their main cause of death to be heart- and artery-related conditions, which was 17% higher than the national average.
“Heart- and artery-related conditions also caused the most severe illness claims, 38% higher than the national average. For disability claims, Kwa-Zulu Natal had the lowest incidence of nervous system conditions, at 23% lower than the national average,” Discovery Life added.
Gauteng ranked pretty high with their nervous conditions as it came in at a 25% higher incidence rate, while their heart related condition rate was 21% lower than the national average.
“In inland provinces (provinces situated in the interior of the country, rather than on the coast), death claims as a result of unnatural deaths were 9% higher than the national average. Inland provinces also had the highest incidence of musculoskeletal conditions, at 40% higher than the national average for disability claims, and 34% higher for severe illness claims,” reported Discovery Life.
Life cover claims
Discovery Life further stated that more than one in every five deaths were as a result of unnatural causes that can affect everyone regardless of their age or health status. “42% of these deaths were as a result of motor vehicle accidents. This highlights the need for life cover, irrespective of health or age.”
In the under 30 age group death due to unnatural causes accounted for more than 70%, motor vehicle accidents caused 56% of deaths.
The report also showed that 70% of death claim pay-outs were paid to males, and 30% to females.
“For males, the conditions that caused the most deaths were heart and artery conditions (30%) and unnatural deaths (25%). For females, the most common causes were Cancer (38%) and heart and artery conditions (30%),” added Discovery Life.
In 2016, 63% of severe illness claims were submitted by males, and 37% by females. Among males, cancer and conditions of the heart and arteries were the causes of the most claims, at 33% and 35% respectively.
Among females, the highest causes of claims were cancer, at 48%, and nervous system conditions, at 14%.