I have been retrenched at the end of Sept. '12.In Oct. I have faxed the retrenchment letter and needed documentation to my banks FNB, ABSA & Nedbank When you apply for a personal loan and its approved you have to sign for insurance in case of death, disability or retrenchment-FOR THIS YOU HAVE TO PAY EXTRA EVERY MONTH.What happens when you have to claim-With Nedlife-Nothing!!! FNB & ABSA has both paid the insurance into my loan accounts within two weeks. It has been 3 months and Nedlife has not completed the claim yet. Nedbank (after contacting them in December) has once again deducted the instalment from my bank account, and the little uif I get must be used for school fees etc. I have contacted them over again. The previous time it was said that they have confirmed my retrenchment on 15 Nov '12 with my previous employer, today it was said it had not yet been confirmed. Are these people waiting for me to get a job so that they don't have to pay the insurance money (which I paid for over years)? And why is Nedbank still deducting the instalment after I have contacted them twice? This is pathetic! I have had to use my credit cards to pay for expenses, increasing my debt & interest
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