South Africans are increasingly opting for life insurance that pays out in US dollars, according to research findings by Discovery Life. The research revealed a 20% year-on-year growth in premium income from offshore risk planning, with premium volumes more than doubling over the last five years. The trend is driven by South Africans seeking to diversify their risk cover to hedge against currency volatility, with two-thirds of Dollar Life policyholders also holding local policies.
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