DO NOT TAKE OUT AN ABSA INSURANCE POLICY!

A few years ago I took out an ABSA life insurance policy after pressure from my ABSA financial advisor, Phillip van Staden (who has since left to work at SANLAM), who changed my Old Mutual annuity to an ABSA life insurance policy.

Last year, in the second half of the year I requested that the policy be cancelled to the person who had called me from ABSA to say that he is in charge of my policy now. When I asked again, a few weeks later, what is going on, they told me that it was being processed.

This year on 18 February 2021, I requested by email, with my ID attached, that it be cancelled. I sent the request to the proper address. ***. My previous financial advisor, the above-mentioned Phillip van Staden, also sent an email to that address to request that the policy be followed up on.

I requested this AGAIN on the 25th of August. It is being processed. In the mean time, they are happily taking off my premiums. I insist that they pay me back, for at least my last six premiums. When I went deaf in one ear because of a negligent ENT (and music is my career and I could not work anymore), the policy could not even pay out anything. Useless.

Phillip van Staden knew me very well and should have known to make me take out a policy to cover me if I could not work anymore. He knew that I was a musician - we often discussed that and he even helped me to draw up special financial packages for teaching.

I have still not heard anything from ABSA Insurance, even though my financial advisor now is trying very hard to put pressure on ABSA insurance to refund me and cancel my policy. I just gave him a complimentary review.

DO NOT TAKE OUT AN ABSA INSURANCE POLICY.