Business Brief

Emigration, or the process of leaving one’s home country to live in another, has been rising in South Africa over the past two decades. According to Statistics South Africa, the number of South Africans living abroad has grown from around 1.5 million in 2001 to over two million in 2021.

The main destinations for South African emigrants are developed countries such as the UK, the US and Australia. These countries offer a range of opportunities and benefits that many South Africans find appealing, such as better job prospects, higher wages and improved living conditions.

One of the main reasons for emigration among South Africans is the search for better economic opportunities. The South African economy has struggled with high unemployment and low growth in recent years. Many highly skilled professionals, such as engineers and doctors, have left the country in search of better job prospects and wages.

Another major reason for emigration is the high crime rate in South Africa. The country has one of the highest crime rates in the world, and many South Africans have left the country in search of safer living conditions.

Emigration has also been driven by political reasons, with many South Africans leaving the country due to dissatisfaction with the government and the political situation. This has been particularly true in recent years, as the country has faced a range of political and economic challenges.

The South African government has had a mixed response to emigration. While it has acknowledged the importance of retaining skilled professionals and has made efforts to improve the economic situation, it has also been criticised for not addressing the underlying issues driving emigration.

At PPS, we understand that times are changing and offer the peace of mind that wherever our members go, they are covered, with no restrictions, change in premium or need to inform PPS. Our International Cover key feature applies to all PPS policies, at no additional cost and without strings attached. Members may travel to any country for any duration. Whether a member travels for work, impromptu breakaways or emigration, their cover may remain in place.

With any business, there are rules. At PPS, we cannot conduct insurance business outside the borders of South Africa. Members would need to complete the following steps while in South Africa to ensure the cover is in place before they leave for their destination:

• Signing the Provider Application Form.
• Medical requirements.
• Signing the PPS Counter Offer (if applicable).
• The policy document must be sent to the member as confirmation that the policy has been issued.

Once the cover is in place, a member may increase cover, add rider benefits and change premium patterns while being abroad.

We have designed the International Cover Toolkit to help you discuss this feature with your PPS clients.

By Driensie Coetzee, Technical Marketing Specialist

PPS is a licensed insurer conducting life insurance business, a licensed controlling company and an authorised FSP.