Even though just over 40% of South Africans have funeral cover, only one in 10 South African consumers has life insurance. If the deceased’s estate has a cash shortfall, the funeral and immediate costs may be taken care of, but there are no backup funds available to pay for winding up the estate itself.
Discovery Vitality today released the results of its 10-week public campaign, the Vitality Open, which was aimed at getting South Africans to exercise more and improve their driving behaviour.
South Africa’s young adults could bridge the growing life and disability insurance gap by diverting a fraction of their monthly lifestyle expenditure to financial services products. The largest insurance gap is currently presented by millennials between the age of 18 and 30 coupled by high levels of indebtedness and low savings.
Moshe Tamir, Global Head of Digital Transformation at Generali, discusses digital innovation in financial planning at the 2017 Discovery Financial Planning Summit.
Generali Vitality, based on the Discovery Vitality programme and Discovery’s shared value insurance model, will be available to Generali customers in Germany from 1 July 2016.