Suicide and recognition of prior insurance

Looking at a long Financial Year from July 2015 to now we have been busy with changes and financial ups and downs, not only in the industry we work in but also to the country we live in.

Suicide claims have increased dramatically over the last 6 months, below a few stats on suicide in South Africa:

South African Stats

1) 10% of all non-natural deaths in adults and 9.5% in youth are due to suicide.

2) +/- 23 a day, virtually 1 every hour.

3) Nearly two-thirds of all suicide victims were aged between 20 and 39 years.

4) Nearly 1 third of recorded suicides in SA are in Gauteng and a 1.5x increase in suicidal deaths in the Transkei over the past five years.

5) There were 4.6 male suicides for every 1 female suicide.

6) 1 in 4 SA teens have attempted suicide.

7) 1 in 3 hospital admissions for suicide involve youth.

8) Less than 1% of mental hospital beds are for children and adolescence.

9) 70% of South Africans who attempted suicide had a mental health disorder.

10) 75% of people will not get the mental health treatment they need.

suicide increase in south africaWith this information does it not make sense that Hollard recognises Prior Insurance when a replacement is done by our advisors!

Replacing a policy that has been in force at another company and then replaced by you with a Hollard policy, means that we will take into account the time that the policy was with the company and the suicide cause would be reduced by the time that the policy was inforce. Covering your advice to the client to replace the policy and allowing the client peace of mind that the cover will still be paid out.

Life Cover Simply Put

Contact Ginsburg Financial Services for more information about Hollard’s recognised Prior Insurance.

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