Capitec warns of R50.4 trillion insurance shortfall

Capitec , South Africa’s largest bank by customer numbers, has raised concern that households are overinsured in funeral cover while neglecting life insurance, leaving families vulnerable when a breadwinner dies. The bank points to a massive disconnect between funeral and life cover. A 2025 Insurance Gap Study by the Association for Savings and Investment South Africa (ASISA) revealed that the country’s life and disability insurance shortfall has widened to R50.4 trillion.