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Wrapping Up 2022 South African Highlights

Updated: Feb 25

The countdown has begun for the festive season, and I'm sure like me, you are getting ready to take some well needed leave to relax, reenergize and spoil your loved ones.


Picture of cape town aerial view

Before we recap 2022 with some highlights, "I want to thank you for your continued loyalty and support of Wallstreet Financial Services and allowing us to assist you with your Financial Planning needs."

Our offices will be closed from 15 December and opening 5 January 2023.


Some of the things we saw during 2022 were:

man holding south african flag

  • We saw loadshedding intensify to stages 6 which in previous years were never mentioned. We had to learn to adapt our lifestyles to loadshedding schedules.

  • The JSE topped 77'000 points for the first time ever during 2022, and that with loadshedding and other socio economic problems.

  • Russia declared war on the Ukraine, which has and currently is causing a lot of pressure on the European markets.

  • Phala Phala scandal came out and there was speculation that our president might resign, causing a tumble on the rand which showed how quick the markets react to uncertainty.

  • Wearing masks and sanitizing is all but forgotten, with the remanence of the covid pandemic being sanitizing stations at entrances which have just become a fixture in stores

  • Traditionally Wallstreet has always processed between 18 and 24 long term insurance claims a year, and during 2022 there has been a decline to only 12. These claims ranged from death claims, retrenchment and the most prevailing being critical illness.

  • Since receiving our short term insurance license a year ago, Wallstreet's short term insurance clients have tripled in 13 months, reflecting our clients confidence in us to deliver and help.

 

Discovery this week published an important article surrounding a spike in heart disease and cancer cases.

a human heart

A summary of the article published in the Business Day:


The data released by Discovery Employee Benefits, which insures more than one million individuals through its group risk benefits show that claims from cardiometabolic conditions more than tripled since 2020 with a 200% increase in claims over the past year.


Cardiometabolic disorders relate to several interrelated risk factors including hypertension, elevated blood sugar, abdominal obesity and triglycerides.

Part of the reason they say is that data shows a definite decline in people going for cancer screenings during Covid-19 that corresponds to the drop in treatments for all stages of cancer being recorded by the Discovery health Medical Scheme. This means that people aren’t detecting their cancers as early as they otherwise would have, because they are screening less.


International data suggest that long covid increases the risk of heart attacks and stroke disease because of the heightened risk of blood-clotting conditions"

 

You can book a consultation with us by calling 011 608 3338 or by submitting your information through our website at www.wallstreetfs.co.za


And if you need help figuring out what kind of coverage is right for you, don't hesitate to reach out! We're here to help, and we can answer any questions you might have about our services.


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