Many South Africans will be travelling in and out of the country to make the most of the festive season holidays. Unfortunately, this time of the year is also characterised by a spike in road accidents which often lead to a loss of life, long-term injuries or even a disability.
While reviewing your life cover or funeral cover may be the last thing on your mind at this time of the year, the consequences of neglecting this important but relatively quick task could be dire.
Lee Bromfield, CEO of FNB Life says, “if you are planning to travel, it is important to review and update your life insurance policies in case anything happens to you or your loved ones. It’s also important for people to avoid being involved in illegal and irresponsible behaviour such as drinking and driving because that can result in delays in their insurance claim should something happen.”
“In the event of an accident while travelling, the most important thing is to ensure that you or your family have sufficient cover. It is also crucial to know that you can rely on your insurer to help you with a seamless and efficient claims process in your time of need,” he says.
Bromfield says this is why FNB life has been continuously reducing the amount of time that customers wait for their pay-out by paying about 80% of claims within a day of receiving all documentation.
“Up-to-date customer information is crucial to processing a claim speedily, hence we encourage customers to regularly update any changes in personal details such as marital status, address, contact details and beneficiaries to avoid unnecessary delays,” he adds.
“Before going on that well-deserved holiday take a few minutes to review and update your life and funeral policy so that you can have peace of mind knowing that you and your family will be adequately covered in the unfortunate event of an accident,” concludes Bromfield.