New data from the Association for Savings and Investment South Africa (ASISA) showed that the average South African income earner has a life insurance shortfall of at least R1 million and a disability cover gap of around R1.4 million.
The Association for Savings and Investment South Africa (ASISA) said that severe market volatility and a steep increase in the cost of living for consumers had tested consumer financial resilience resulting in them getting rid of certain monthly premiums.
The Association for Savings and Investment South Africa has billions in unclaimed assets that comprise of savings, investments, risk policies, annuity policies and accounts in Collective Investment Schemes portfolios.
The Association for Savings and Investment South Africa (Asisa) has published its life insurance claim statistics for 2021, showing a significant increase in fraudulent and dishonest claims.
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