ABSA will not pay me my money back policy
My ex wife and i bought a house through Absa bank and insured with Absa Life( which had a money back policy). a few years later we moved our bond to Nedbank and ceded the life cover to Nedbank. now, more than 20 years later, the policy has matured and we are expecting our payout. My ex wife got paid out for her policy, but I did not because some person at ABSA life blundered up by ceding the policy to Nedbank but keeping the defunct Absa bank home loan account number. Now ABSA life is not paying me out because they say the cession letter is missing , but Nedbank cannot give me a cession letter for an Absa bank account number, and Absa bank cannot give me a cession letter because it is more than 20 years that the account is closed and furthermore, the policy is ceded to Nedbank. My ex wife and i both took the same type policies at the same time so that if something happens to either one of us, the bond will be covered. I have the policy schedule's for the both policies , and both say Nedcore, but her policy had the Nedbank Policy number whereas mine had the old Absa bank home loan account number. The lady at retentions did not pick this up and is sending me on a wild goose chase for some thing that does not exist. If there is anyone from ABSA reading this , please contact me . Navin Mohunlal 0834832293
Comments
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Dear Mr. Mohunlal,
I refer to our telephone discussion.
The payment has been authorized; funds should reflect in your account within the next 48 hours.
Once again, please accept our sincere apology for the inconvenience which may have been caused.
Kind Regards,
Absa Life - Escalations Team
