Tebogo Msimanga |
First National Bank (FNB) is encouraging customers who have credit life insurance to consider claiming from their policies to minimise financial hardship. FNB said it made significant strides in improving its claims processing capacity over the past year to handle the uptick seen as a result of the covid pandemic
CEO of FNB Retail Raj Makanjee said credit life is a vital relief measure for customers whose income is disrupted by circumstances that are beyond their control. “This has been apparent for our Retail customers in FNB, where many have relied on credit life to cushion against the financial impact of Covid-19. In the prevailing circumstances, we advise customers to consider credit life as their first option for financial relief.”
CEO of FNB Life Lee Bromfield said FNB, WesBank and Direct Axis customers who have credit life policies with them are covered for retrenchment and inability to earn an income. “This includes customers who are self-employed or those who previously only had retrenchment cover.”
Bromfield added that the reality is that many households are still grappling with the impact of Covid-19 on their finances, and the unrests effectively put financial pressure as some may not be able to immediately return to work until their employers have recovered.
“We want customers who have policies with us to understand that credit insurance is a potential avenue,” concluded Bromfield.