FNB Life – Premium Back Reward Reduced Without Proper Disclosure & No Response to Formal Query

I have been a policyholder with FNB Life since 2017, with all policies paid consistently and on time.

Around 2023–2024, FNB Life actively offered existing customers upgraded or new policy benefits which included a Premium Back Reward of 6 months’ premiums after 36 months, payable either in cash or eBucks. This benefit was clearly positioned as an incentive and was a material reason I accepted and continued with the policy under these terms.

Over the last few months, this benefit has suddenly changed. I am now being advised that:

The Premium Back Reward depends on which bank account premiums are collected from; and

If premiums are collected from a non-FNB bank account, the reward is reduced from 6 months to 3 months, despite the policy being fully paid and up to date.

This condition was not clearly disclosed in the policy update email sent to me on 09/08/2025, which explicitly states that the updates “do not change benefits.” While reference may be made to payment methods in the attached policy wording, there was no clear, prominent disclosure that an existing benefit would be reduced, nor was this highlighted as a material change to a long-standing reward.

Instead, this condition only surfaced later through app wording and selective explanations, after the benefit had already been earned over nearly the full qualifying period.

On 28/01/2026, I formally emailed FNB Life requesting:

Written confirmation of how my Premium Back Reward will be calculated; and

A copy of the original sign-up or upgrade documentation reflecting the Premium Back Reward terms that app**** when this benefit was offered to me in 2023–2024.

As of today, 06/02/2026, I have received no response to this email.

Reducing a long-term benefit based solely on a recent change in banking details — while stating that “benefits have not changed” — is deeply concerning. What is even more disappointing is that my policies have been paid without interruption from 2017 to 2026, yet I am now effectively being penalised for choosing which bank account my premiums are paid from.

It is troubling that the primary focus appears to be which bank the money comes from, rather than the fact that the policy has been faithfully maintained for almost a decade. This treatment feels unfair, unreasonable, and inconsistent with how the benefit was originally sold and communicated.