Sanlam, one of South Africa’s leading financial services groups, has released statistics claiming a significant increase in cancer-related insurance claims, particularly among younger customers.
Sanlam’s 2024 insurance claims data highlights South Africa’s growing health challenges and the long-term impact of the COVID-19 pandemic on medical screening habits, revealing a significant increase in cancer and cardiovascular-related claims.
Cancer remains the leading cause of serious illness claims, accounting for 54% of total payouts in this category, up 30% from the previous year. Prostate cancer claims among men have doubled, while breast cancer claims among women have increased by 33%. Cardiovascular conditions accounted for 20% of death claims and 17% of disability claims, according to Sanlam.
The insurer attributes these rising numbers to increasingly prevalent lifestyle-related diseases. Conditions such as heart disease, various types of cancer, musculoskeletal disorders and mental health issues are increasing the volume and cost of claims.
Dr Marion Morkel, Sanlam’s Chief Medical Officer, highlighted the ongoing impacts of the pandemic, particularly delays in preventive screenings leading to late-stage diagnoses. “The increase in cancer claims is partly due to years of delays in screening during COVID-19,” she explained.
Hypertension remains prevalent in South Africa and remains a critical risk factor for both heart disease and stroke. Strokes and musculoskeletal conditions have also increased significantly, particularly in women under the age of 50, a trend Sanlam described as concerning.
Dr. Morkel urged South Africans to monitor key health metrics such as blood pressure, cholesterol, glucose levels and body mass index (BMI), and to prioritise regular medical check-ups, particularly from their mid-40s onwards. “Self-checks and regular screenings – particularly for cancers such as breast cancer – can be life-saving,” she added.
Sanlam’s report also highlights the gender gap in insurance claims. While 60% of disability claims were made by men, 61% of sickness benefit claims were made by women, one in five of which were pregnancy and childbirth related. Serious illness claims were split equally between men and women, highlighting the overall impact of health risks across the population.
Sanlam Risk and Savings paid out a total of R6.62 billion in individual insurance claims in 2024, a 9.24% increase on the previous year. This included R5.47 billion for death and funeral benefits, R501.6 million for disability and loss of income, and R650.3 million for serious illness and injury. Over the past six years, Sanlam has paid out more than R36 billion, making 2024 one of its highest payout years outside of the 2021 COVID-19 peak.
Sanlam Risk and Savings CEO Rhoderic Nel said there had been a worrying increase in claims from younger policyholders. “Around 24% of living allowance claims now come from customers under the age of 35, with income protection claims in this age group rising from 15% in 2022 to 25% in 2024,” he said. “This is a stark reminder that serious illness can affect anyone, at any age. Financial preparations should not be delayed.”
Nel stressed that every insurance claim is more than just a number. “Behind every claim is a person, a family, a future. That’s why we approach claims fairly and empathetically, and we work constantly to process them faster,” he said.
As both health and financial risks continue to change, Sanlam’s findings highlight the importance of early health interventions and sound financial planning. “This is not just about claims payments; it’s about helping people stay resilient when life changes suddenly,” Nel concluded.