Momentum explains why it refused to pay shooting victim's life insurance
People take out life insurance to ensure that in the event of their death or disability, there is money available to settle all outstanding debts and provide dependants with some financial security.
However, the rejection of a claim is everyone's nightmare, and certainly a reality for a number of grieving South African families.
Just like the Ganas family, whose claim has been rejected by Momentum because of a non-disclosure breach. This after their deceased family member, Nathan Ganas died from gunshot wounds during a hijacking in his driveway while he was trying to protect his wife in Shallcross last year.
The insurer came under huge criticism over the weekend over that decision, based it says on the fact that Nathan Ganas had high blood sugar levels.
Wife Denise is is now fighting to get a R2.4 million life insurance payout but the insurance company is also demanding the repayment of R50000, which was an instant cash benefit from the policy and which the family used to pay for Nathan’s funeral.
Bongani Bingwa speaks to Momentum Life CEO Johann Le Roux.
He explains how clients need to disclose all underlying medical conditions when applying for life insurance.
No claims assessor in South Africa wants to deny a claim. The case here revolves around the fact that the policy would never have been issued in the first place.Johann Le Roux, Momentum CEO
He denies that the insurer looks for reasons to deny a claim, but says, in this case, there was material non-disclosure.
The contract was clearly not valid.Johann Le Roux, Momentum CEO
He says if one develops a condition after taking out a policy the contract would be valid.
Take a listen to Le Roux's explanation:
This article first appeared on 702 : Momentum explains why it refused to pay shooting victim's life insurance
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