AG
Anton G
1 reviews | Active since Nov 2015
17 Dec 2015, 17:37
Pay back of point system
Spoke to Mpho on the 19 Nov2015 about the amount that was payable to me from Discovery drive because I cancelled the Discovery drive option on my policy.On that day the amount of the drive payback bonus was R3871 They said I will receive only 50% of this amount in cash. I only received R1176 wich is not 50% of the amount.Mpho was supposed to come back to me to explain but no response from her as to date.R800 is still outstanding from them.
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Discovery Insure's replyOfficial
17 Dec 2015, 20:05Hello antongeyser,
Thank you for raising your concerns.
On the Excess Funder Account (EFA) payout, note that EFA is paid out per 3 year cycle. While the balance in EFA was R 3800.71, the EFA that fell into the 3 year cycle was R 2352.24 hence half of that is R 1176.12 which is what was paid.
We recommend that you also view the Excess Funder Account balance on the online portal for the a breakdown of a dates and the amounts accumulated. Note that anything accumulated after 01/09/2014 is subtracted as this would fall into the new cycle. The funds still may be used for excess towards motor vehicle claims or withdrawn when its 36 months cycle lapses.
We apologise for the inconvenience experienced.
Regards,
Sekgobola
Discovery Insure
Thank you for raising your concerns.
On the Excess Funder Account (EFA) payout, note that EFA is paid out per 3 year cycle. While the balance in EFA was R 3800.71, the EFA that fell into the 3 year cycle was R 2352.24 hence half of that is R 1176.12 which is what was paid.
We recommend that you also view the Excess Funder Account balance on the online portal for the a breakdown of a dates and the amounts accumulated. Note that anything accumulated after 01/09/2014 is subtracted as this would fall into the new cycle. The funds still may be used for excess towards motor vehicle claims or withdrawn when its 36 months cycle lapses.
We apologise for the inconvenience experienced.
Regards,
Sekgobola
Discovery Insure
Discovery Insure's reply17 Dec 2015, 20:05
Official
Hello antongeyser,
Thank you for raising your concerns.
On the Excess Funder Account (EFA) payout, note that EFA is paid out per 3 year cycle. While the balance in EFA was R 3800.71, the EFA that fell into the 3 year cycle was R 2352.24 hence half of that is R 1176.12 which is what was paid.
We recommend that you also view the Excess Funder Account balance on the online portal for the a breakdown of a dates and the amounts accumulated. Note that anything accumulated after 01/09/2014 is subtracted as this would fall into the new cycle. The funds still may be used for excess towards motor vehicle claims or withdrawn when its 36 months cycle lapses.
We apologise for the inconvenience experienced.
Regards,
Sekgobola
Discovery Insure
Thank you for raising your concerns.
On the Excess Funder Account (EFA) payout, note that EFA is paid out per 3 year cycle. While the balance in EFA was R 3800.71, the EFA that fell into the 3 year cycle was R 2352.24 hence half of that is R 1176.12 which is what was paid.
We recommend that you also view the Excess Funder Account balance on the online portal for the a breakdown of a dates and the amounts accumulated. Note that anything accumulated after 01/09/2014 is subtracted as this would fall into the new cycle. The funds still may be used for excess towards motor vehicle claims or withdrawn when its 36 months cycle lapses.
We apologise for the inconvenience experienced.
Regards,
Sekgobola
Discovery Insure