I was retrenched in Oct '12 and claimed from ABSA Credit Protection Plan for my personal loan and overdraft on 31 Oct. '12.
I was informed in November '12 that an amount on my overdraft will be paid for 6 months as agreed.
However, the instalment on my personal loan would only be paid for 6 months whereas the Loan Agreement (which is in my possession) specifically states that my instalment will be paid for 12 months in the event of retrenchment.
Telephonic queries to the ABSA Life call center has led to mixed answers from various consultants. I was however requested by a consultant to send an email to [Email Removed] which I did send on 6 Dec. '12 10h11 and received a read receipt on the same day at 10h15.
I have not received a response to my e-mail to date.
In light of my current financial situation I would like to request urgent feedback in this regard.
In the event that ABSA doesn't pay my claim as agreed I will seriously reconsider banking with them in future since I cannot conduct my finances with a bank who doesn't honour their agreements.
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