Subject: Urgent: Payment of R190,322 – Conflicting Information About Policy Payout I am the beneficiary of policy number ***-9 (Sage Life Limited, now Momentum)

Dear Hellopeter Team,

I wish to lodge a formal complaint regarding the handling of my late father, Mr TP Simelane’s Sage Life policy by Momentum.

Momentum’s response indicates that the policy was “cancelled” and that records are no longer available due to the 5-year retention rule. However, I wish to highlight the following:

1. The policy included funeral cover, which constitutes a death benefit payable upon the policyholder’s passing.


2. I still possess documentation showing policy details, account information, and related communications.


3. Momentum has already provided some supporting information, including copies of forms and payslips, which demonstrates that records do exist. They provided only part of the information, not all of it.



FNB has confirmed that the account number provided by my late father never existed, and no payment has been received. This raises serious concerns regarding the handling of the death benefit.

I therefore request that Momentum provide formal proof of payment or confirmation of the transaction, including:

The exact date of payment

The amount paid

The account number to which the funds were transferred

Any supporting transaction reference or documentation


I urge Momentum to provide this information urgently to allow proper tracing of the funds.

Good day,

I acknowledge Momentum’s response as well as the subsequent written confirmation received from First National Bank (FNB). Unfortunately, the matter remains unresolved, and FNB’s latest response further contradicts Momentum’s position.

FNB’s latest written confirmation

FNB has formally confirmed the following:

1. The salary deposit reflected in October 1999 matches historical payslip records and is unrelated to the Sage Life policy.

2. No policy-related payment in the range of R150,000 – R190,000 is reflected on the account during December 2003, the period Momentum alleges the surrender payment was made.

3. The account number referenced by Sage Life / Momentum (ending 2817) is not an FNB account.

4. FNB is unable to investigate further unless the policy administrator provides verifiable proof of payment, including banking references.

5. FNB explicitly confirms that the policy company must provide proof of payment, as the alleged receiving account does not exist on FNB systems.

Outstanding contradictions

Momentum continues to assert that:

The policy was surrendered and paid on 18 December 2003;

Funds were deposited into an FNB account allegedly used by my late father.

However:

FNB confirms no such policy payment exists on the account for December 2003;

The account number itself is invalid and does not belong to FNB;

Momentum has produced no independent proof of payment, only internal Sage Life screenshots;

No EFT confirmation, bank reference number, batch number, cheque number, settlement confirmation, or reversal record has been produced.

Record-retention argument

The reliance on a 5-year record-retention limitation is insufficient in this matter.

If payment was genuinely made:

A traceable banking trail must exist, regardless of internal document retention;

The absence of such proof, combined with FNB’s confirmation that the account does not exist, means payment has not been substantiated.

Formal request

I therefore formally request from Momentum:

1. Documentary proof of payment (not internal screenshots);

2. The payment method used (EFT, cheque, or batch transfer);

3. A bank-verifiable reference number that FNB can independently trace;

4. Confirmation of whether the payment was returned, rejected, reversed, or placed into a suspense account.

Absent the above, the assertion that the policy proceeds were paid remains disputed and unsupported.

I trust Momentum will cooperate fully to provide the requested documentation so this long-outstanding matter can be conclusively resolved.

Kind regards,

Simphiwe Bryson Simelane