RN
Ronda N

1 reviews | Active since Feb 2012

30 Mar 2015, 11:05

Lack of information and unfair process

I today phoned Absa Insurance regarding the forced 6% increase on home loan insurance. This is in line with one liner tucked in the letter indicating that Absa Insurance should be informed of the incorrect insured amount. The entire call lasted 20 minutes - at least 15 of which was holding on for a supervisor, who I never did get to speak with. <br> <br> I am told that to retain the current amount insured, then I have to go to a branch and speak with the branch manager, as Absa is providing me with the money for the loan and they have the right to force their increase decision on me - the bond is well over three years old. Firstly, the amount that it is insured for is well over double the amount I owe Absa and secondly, I was of the opinion that insurance on the property covered damage to the property - not the amount owing on a loan (for which there is another fee taken of periodically).<br> <br> I feel absolutely bul**** into this forced increase, believe the information provided in the letter is misleading and have been stonewalled by the call centre. Oh, and the call centre was not able to provide me with an email address to send a complaint!

0
Replies (1)
Absa
Absa's reply30 Mar 2015, 13:26
Official
Hello YoY,

Dear Customer

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

Kind regards

Daphne Le Grange

Group Customer Care

Absa Bank Ltd