Discovery Life Reports 35% of Death Claims Due to Suicide in 2024

Discovery Life's 2024 claims data reveals a troubling rise in suicide rates, with suicide accounting for 35% of unnatural death claims, significantly higher than road accidents (23%) and crime (17%). The overall number of suicide-related claims surged by 62% compared to the previous five years, particularly affecting individuals aged 41 to 60, where nearly half of unnatural death claims were due to suicide. Financial stress has been cited as a contributing factor, especially among older policyholders, many of whom also suffer from mental health issues. Discovery Life paid out R11.5 billion in claims in 2024, with the vast majority (99.3%) being approved. The report highlights the need for better mental health support, as many claimants were registered with the medical scheme for conditions like depression and anxiety. The continuing trend raises concerns about South Africa's mental health crisis and the increasing pressures faced by older adults.