WO
William O''Bree

1 reviews | Active since Jan 2011

12 Feb 2018, 16:01

Cancellation Of Absa Life moneyback Policy ***

I contacted Absa to cancel my life insurance policy. I supp**** all the necessarily documents as requested, to the retentions department. It's a moneyback policy, so there is an amount of money due to me. They told me it would be settled within 7-10 working days. I gave them a call today to find out why it hasn't been cancelled yet and when I would receive the money I'm owed.(It's been 2 weeks) All of a sudden, I'm told it takes 10-15 working days. Seriously!! I bet if I phoned tomorrow it would be 20-15 days..

Just process my claim and give me my money, that's all I ask. Absa is always quick to take money that's due to them. Giving back is a different story.

0
Replies (2)
WO
William O''Bree's update12 Feb 2018, 16:25
Reviewer Update
By the way, when I took out this policy, I was assured that every cent I put in, I would get back, if I didn't claim or cancelled the policy. My premium was R2000.00 per year for 14 years. They said I will get R10900.00 back? Now I'm no mathematical genius, but the numbers aren't adding up. I should be getting R28000.00 Anyway, I suppose there was some fine print. Just Absa cheating us out of our money as per usual..
Absa
Absa's reply13 Feb 2018, 12:01
Official

Dear Customer

Thank you for bringing this matter to our attention. We will investigate the matter and furnish feedback once the matter is resolved.

Kind regards
Claudette Lewis
Group Customer Care
Absa Bank Ltd