Tag: FNB Life

The year 2020 came about with a great amount of hardships and offered critical financial lessons such as, having an emergency fund; the importance of budgeting and having sufficient insurance cover to protect yourself and your loved ones. The New Year provides an opportune time for one to reflect, take stock and review their insurance covers to ensure that they are financially prepared to handle any unexpected turns this year.

Claims rejected for death occurring during waiting periods is one of the leading causes of complaints to the office of the Ombudsman for long-term insurance. Generally, funeral policies have a 6-month waiting period before a customer can claim. If a customer chooses to change their insurer, they would be obligated to serve a waiting period with their new insurer even if they had completed waiting periods with their previous one.