It is clear from market reaction over the last two days that under certain circumstances, current industry practice creates the impression that insurers are looking for reasons not to pay a claim.

1. Momentum creates a solution for the victims of violent crime
It is clear from market reaction over the last two days that under certain circumstances, current industry
practice creates the impression that insurers are looking for reasons not to pay a claim. Momentum is in
the business of paying claims and we have therefore taken the 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.
Key points to take note of:
- 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. This includes Mrs Ganas.
The importance of full and honest disclosure at application stage cannot be overemphasised.
The only time your health status matters, is when you apply for cover. This is when you need to share all
your medical and health information. If your health deteriorates after commencement of the policy,
there is no need for you to inform Momentum – your claim will be completely valid if the information
provided at the start of the policy was accurate.
With exception of the new guarantee, full disclosure remains non-negotiable to ensure peace of mind.
We care for our clients and always strive to solve for their needs. We hope that this solution illustrates
that.
ENDS