Formal Complaint: Refusal to Cede Credit Life Cover

Nedbank is refusing to cede the credit life cover associated with my loan account with them. Despite my compliance with all necessary requirements and the terms outlined in the policy, my request to cede the cover has been denied without valid justification.

This refusal is causing significant concern, as it appears to be in contradiction with the terms of the credit life insurance policy and my understanding of my rights as a policyholder. I have attempted to resolve this matter directly with the bank through emails, but the issue remains unresolved.

Nedbank need to be investigated on this matter and take the necessary steps to ensure that the bank complies with its obligations under the policy. I will also write to ombudsman. These banks want to suck us dry in this economy

Nedbank fix this