Tuesday, 21 May 2019

Momentum won’t pay widow R2.4m & Twitter is not impressed

Insurance company Momentum is not backing down on its decision to not pay out a life cover claim due to the client’s failure to disclose his pre-existing medical condition.

Momentum received backlash after refusing to pay out a life insurance claim to the widow of Nathan Ganas, who was shot dead during a hijacking in Durban in March last year.

IOL reported that Ganas’s widow was expected to receive a R2.4m life-cover payout from Momentum. However, the company refused to pay, claiming that the deceased did not disclose that he suffered from high blood sugar levels.

In a statement released on Sunday, Momentum said it decided to not pay out the claim because Ganas “did not act in good faith”. 

Gana’s widow is also expected to pay back the R50,000 instant cash benefit that was used for the funeral. 

The rejection of the claim was taken to the ombud for long-term insurance, who ruled in Momentum’s favour.

Source: https://www.timeslive.co.za/news/south-africa/2018-11-19-momentum-wont-pay-widow-r24m–twitter-is-not-impressed/

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