Capitec Credit Insurance

Good Day Capitec

When i took out Retrenchment Credit Insurance by Capitec, i was made to believe that the purpose of the insurance is to cover my debt when I became unemployed. Well, so i have been retrenched however this Credit Insurance is not so effective for the following reasons: 1. 1st submission done on 02/12/2019 and followed up on the 19th just to find out out my documents hasn't been received, even though it was emailed.

2. Then i resubmitted on the 20/12/2019 from within the branch. Followed up on 06/01/2020 from the branch and the consultant called to find out and luckily it has been received, i asked for a reference number for the call and it was provided.

3. I called today, 23/01/2020, to follow up on the claim, guess what, the lady told me: "Sorry Sir, we have no record of you submitting a claim".

Can you imagine the frustration i had but then i remembered i have a reference number of my previous call, once i gave her the reference number then all of a sudden all the submitted documents magically appeared. A huge red flag if i didn't had a reference number.

So now i was told my claim will be assigned to a consultant for assessment and it might take up to 3 months but in the mean time i need to still pay the account. My 2nd debit order is about to go off after i submitted my claim and yet you tell me that my assessment has not been assigned to a person and might take 3 months from now which means more debit orders to go off.

So now here is my question which no consultant can answer me on the phone or in the branches. Why did i pay all those retrenchment credit insurances if i still need to pay another possible 5 or 6 months of installments after i have been retrenched. Isn't this what the insurance is suppose to do? Or is this a ******* from Capitec to delay the process as far as long and frustrating as possible to their clients?

All my other retrenchment insurance claims from other providers has been approved already however i still need to wait a possible 5 months from Capitec to get an answer on my claim.