Momentum is in the business of paying claims and we have therefore taken the recent criticism to heart.
We have created a solution that will pay an amount equal to the death benefit (limited to a maximum of R3 million) in the case of violent crime, regardless of previous medical history. This will apply to all existing as well as future life cover clients.
– This payout will be fully funded from Momentum’s profits and not from our clients’ premiums;
– The guarantee will pay out when the death was a direct result of violent crime, even when material
medical non-disclosure impacts the legitimacy of the contract;
– The payout is not in addition to the normal death benefit. It only applies in circumstances when the
death benefit will not be payable or has been reduced;
– Momentum reserves the right to reject any fraudulent claims.
The guarantee will apply immediately to all our life cover clients, and will be applied retrospectively. We are identifying clients who were impacted in this way and we will contact their families to arrange payment.
We care for our clients and always strive to solve for their needs. We hope that this solution illustrates that.