FNB Credit Life

Good day,

We have been struggling with FNB credit life. We have now done a few Hello Peters and yet FNB has failed to assist us. The complaints department at FNB call but then there is never a follow up from their "management" or "senior" person that the complaint has been escalated too.

In February we were busy with our bond registration, in order for FNB to register the bond, they required a life policy. We sent our life policies to FNB for approval. Our life, disability and income protection is with Sanlam.

After several calls, complaints, emails and hello peter review, we received an email stipulating the policy we submitted was rejected and we were forced to take the FNB Credit Life policies.

My complaint is regarding that even after teh bond is now registered to our names, we are still waiting over a month for feedback of way our policies were rejected.

I have several emails and calls proof of my request, and yet there is nothing.

We want to cancel our policies with FNB with immediate effect, but are forced to stay on because we need to submit a substitute policy to FNB. But yet, we are still waiting to find out what is wrong with our original policies submitted.

In addition, according to the SA legislation & National Credit Act:

• Section 106 (2) “a provider must not offer or demand that the consumer purchase or maintain insurance that is - o (a) unreasonable; or o (b) at an unreasonable cost to the consumer, having regard to the actual risk and liabilities involved ...

Bot of which the FNB life policies are going against. The life polices are more expensive than our Sanlam life polices and they are unreasonable as they are not good policies in comparison to our more superior Sanlam policies. They do not provide proper cover and are inferior to any other product that we currently have with Sanlam .

In addition, we are still waiting to hear back to by whom your FNB life policies are underwritten alongside your FSP licence.

We want to take this to the ombudsmen and we are being stung along with FNB with no proper feedback, no answer to our numerous emails and calls.