ABSA Bank / life cover of avaf

TB TSAUTSE - [protected]
Attention : Asset Vehicle Finance Dept

Please note that the query relates to the above mentioned member.

In 2015 Jul I applied for finance for my vehicle from Absa which was approved. At the time of signing I requested that the Life cover include payment upon death, critical illness and disability, for this benefit I am paying R530.59

In Jan this year I was diagnosed with a critical illness. When I called ABSA to lodge a claim I was advised that my benefit is only for death. I would appreciate if I could be supplied with the original docs that I signed and also the Death Benefit quote stating premium and cover amount.

Currently the Life cover which will pay upon death is valued at R442 161.44. I have checked out Life Cover premiums in that benefit amount and they are less than R150 in premiums, Life Cover for R500 000 is valued at R150.00

I will appreciate prompt response from yourselves failing which I will have escalate this matter to the Life Policy Ombudsman for intervention.

Mar 17, 2017

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