Do not take life cover with ABSA

I took a life cover with ABSA on 13 August 2025. The premium was immediately debited, and I was verbally promised 3x the value of my premiums after 6 successive payments. I understood this to mean 6 payments from August to January.

However, when I queried in January, I was told that ABSA counts months, not actual payments, and that the payout would only be made in February. This contradicts the wording in their contract and caused unnecessary confusion.

I have referred the matter to the ombud, who has given ABSA 21 days to respond.

It’s frustrating and hard to understand how a global bank can engage in such a petty dispute over a relatively small amount. If they handle small payouts this way, one can only wonder how they manage millions in larger transactions.

This experience has left me disappointed and cautious about trusting ABSA with life cover.