THE FACTS
ESTHER Phuroe from Randfontein, west of Joburg, said when her husband died in 2015, they had a home loan with FNB and bond protection cover.
This was supposed to pay the bond in case of death or disability of the bond-holder.
But since her husband’s death, the bank has refused to pay out the bond protection policy. She was told the bond was in arrears.
WHAT I DID
I spoke to FNB’s home loan department to find out why the insurance hadn’t paid out.
SOLUTION
The bank didn’t respond to us, but Esther showed us a letter where FNB Life stated that they will be making an ex-gratia payment in full and final settlement of her claim. The matter was discussed and the claim will be paid directly into the home loan account.