Covid-19 was also the single biggest factor behind the 60% year-on-year increase in funeral claims. The pandemic also had less obvious implications, including 60% fewer claims under the accidental death benefit. At the same time, lump-sum disability claims for mental disorders went from 8% in 2019 to 19% in 2020.<\/p>\n \u201cAside from the increase in claims resulting from Covid-19, the main effect we saw in 2020 was a decrease in accidental claims for all benefits. This may well have been the result of the strict lockdown regulations. It was also evident in the breakdown of disability claims.<\/p>\n “Covid-19 has had a massive impact on people\u2019s mental and financial wellbeing, although it\u2019s difficult to make a direct link from just one year\u2019s statistics,” said Marx.<\/p>\n He noted that the 2020 claim statistics did not include the impact of the second and third waves, so Sanlam expects to see a different outcome in 2021, where lockdown laws were less stringent, and its main client-base was more affected.<\/p>\n \u201cThere is also speculation that 2021 may see an increase in claims as a result of late diagnosis of, say, cardiovascular disease or cancer, or from people suffering from \u201clong-Covid\u201d, but we have not yet seen this coming through in our claims,” said Marx.<\/p>\n In total, Sanlam Individual Life paid R29.95 million in claims for people being booked off work for Covid-19. This hints at what absenteeism may have cost the country.<\/p>\n Positive Covid-19 cases have again peaked in the third wave South Africa experienced over the last few weeks, and Sanlam said it is currently experiencing an influx of claims.<\/p>\n The Sanlam Individual Life claim statistics also pointed to the other main causes of severe illness. \u201cCancer remains the main cause of severe illness claims; in the last six years, it\u2019s accounted for 60% of all the severe illness claims paid annually. We\u2019re also seeing trends from previous years continue, like the continued rise in breast cancer in women,” said Marx.<\/p>\n Disability claims data<\/strong><\/p>\n Sickness claims data<\/strong><\/p>\n![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2021\/08\/Sanlam.png\")
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