LONG-TERM INSURANCE: UDM’s AMENDMENT BILL TABLED IN PARLIAMENT

LONG-TERM INSURANCE: UDM’s AMENDMENT BILL TABLED IN PARLIAMENT

• 08 June 2026
• Financial Sector
• SA Legal Academy

United Democratic Movement MP Nqabayomzi Kwankwa has tabled a Long-term Insurance Amendment Bill focusing issues associated with holding multiple funeral policies with the same beneficiaries.

This comes more than two years after the Bill’s procedurally required pre-tabling explanatory summary was gazetted with a call for public comment. SA Legal Academy reported on that document at the time.

According to a memorandum on the Bill’s objects, other provisions seek to ensure that:

• the non-disclosure of an existing funeral policy by its holder does not affect the validity of any affected funeral policy
• a funeral policy holder may cancel any of the multiple funeral policies held for the same life event after being advised of the benefits of doing so, and that
• the failure of a long-term insurer to comply with certain rules and disclosure obligations is penalised.

Please click the links below for more information:

• Bill
• January 2024 SA Legal Academy report

Published by SA Legal Academy Policy Watch

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