Complaints Policy Download as PDF

If you are not entirely satisfied with the way Instant Life is administrating your insurance policy and you would like to lodge a complaint, please read these details first.

1. 1.0 Introduction

   As part of South Africa’s commitment to regulate the rendering of financial advisory and intermediary services the Financial Advisory and Intermediary Services Act (“The Act”) was introduced. The Act requires all Financial Service Providers to have an internal complaints policy which is accessible to clients at all times.

   Instant Life is an authorised financial services provider (“FSP”). FSP Licence number: 42569.

   In order to effectively protect our interests and those of our clients, we as a FSP are committed to comply with the provisions of the Act.

   A copy of our complaints process and procedure is available on our website (www.instantlife.co.za) or from our FAIS compliance department which can be contacted at absalifecrc@absa.co.za or PO Box 421, Johannesburg, 2000. You can also use these contact details should you want to complain about the product. These complaints will be directed to Absa Life, the insurer who underwrites these policies, for resolution.

   It is important to note that the Act stipulates that before a complainant may submit a complaint to the National Financial Ombud Scheme (“NFO”) or The Ombudsman for Financial Advisory and Intermediary Services (“FAIS Ombud”), the complainant must endeavour to resolve the complaint with Instant Life (Pty) Ltd.

   It is further important to note that this policy only relates to complaints relating to noncompliance with the Act.

2. 2.0 Policy & Process

   1. 2.1Applicability

      1. 2.1.1This policy will apply in all instances where a complaint arises out of a financial service rendered by a representative or a Financial Services Provider in terms of the Act.

   2. 2.2General Principles to be followed

      1. 2.2.1Whenever a complaint arises out of financial services rendered, a client will be required to lodge such a complaint in writing. The client should also attach copies of relevant related information/documentation to the specific claim;
      2. 2.2.2Complaints can be emailed to clientservices@instantlife.co.za or posted to 7th Floor, Absa Towers West, 15 Troye Street, Johannesburg, 2001.
      3. 2.2.3Receipt of the complaint has to be acknowledged in writing;
      4. 2.2.4The complaint should be forwarded to the relevant staff member depending on the type and seriousness of the complaint. Serious complaints should be handled by staff with adequate expertise;
      5. 2.2.5Immediate steps must be taken to investigate and respond promptly to each complaint;
      6. 2.2.6The complaint should be handled timely and in a fair manner and should receive proper consideration;
      7. 2.2.7Internal follow up procedures are in place to ensure avoidance of occurrences giving rise to complaints and for improving our services;
      8. 2.2.8Each client has to be informed of the results of the investigation of the complaint within 6 weeks of receipt of the complaint;
      9. 2.2.9If the complaint is not resolved within 6 weeks, the client may refer the matter to the NFO or FAIS Ombud within 6 months;
      10. 2.2.10Where a complaint has been resolved in favour of the client, a full redress has to be offered to the client without delay.

   3. 2.3Referral to the NFO or FAIS Ombud

      1. 2.3.1If a complaint has not been resolved within 6 weeks by Instant Life, or where the complaint has been dismissed or where the client is not satisfied with the results of the investigation into the complaint, the client may, within 6 months, refer the complaint to the NFO or FAIS Ombud whose details is as follow:
         
         Name: The National Financial Ombud Scheme (“NFO”)
         Johannesburg Address:
         NFO Johannesburg
         110 Oxford Road
         Houghton Estate
         Johannesburg
         2198
         
         Cape Town Address:
         NFO Cape Town
         Claremont Central Building (6th floor)
         6 Vineyard Road
         Claremont
         7708
         
         Telephone:
         0860 800 900
         
         Email:
         info@nfosa.co.za
         
         Website:
         www.nfosa.co.za
         Name: The Ombudsman for Financial Advisory and Intermediary Services (“FAIS Ombud”)
         Address:
         The FAIS Ombud
         PO Box 41
         Menlyn Park
         0063
         
         Telephone:
         012 762 5000/012 470 9080
         
         Email:
         info@faisombud.co.za
         
         Website:
         faisombud.co.za
      
      
      2. 2.3.2The NFO or FAIS Ombud will decline to investigate a complaint if a period of more than 3 years has expired since the act or omission which resulted in the complaint, or 3 years since the complainant became aware of the occurrence of such an act / omission;
      3. 2.3.3The NFO or FAIS Ombud will decline to investigate a complaint, if proceedings have been instituted by the complainant in any court relating to the complaint;
      4. 2.3.4The NFO or FAIS Ombud may decline to investigate a complaint if there is reasonable grounds to believe that a more appropriate dispute resolution process is available or in cases where it will be more appropriate to deal with the complaint in Court;
      5. 2.3.5The NFO or FAIS Ombud will only proceed to investigate a complaint if it has informed every other interested party of the receipt of such complaint, has provided particulars of such complaint to those parties and has provided those parties with the opportunity to respond;
      6. 2.3.6The NFO or FAIS Ombud may follow and implement any procedure which it deems fit and may allow any party the right of legal representation;
      7. 2.3.7The NFO or FAIS Ombud may make recommendations to the parties and if accepted by the parties, such recommendation will have the effect of a final determination;
      8. 2.3.8The NFO or FAIS Ombud will in any case, where a matter has not been settled or a recommendation has not been accepted by the parties, make a final determination which may include dismissal of the complaint or upholding of the complaint. If a complaint is upheld:
         1. 2.3.8.1The complainant may be awarded compensation;
         2. 2.3.8.2The financial services provider may be ordered to take certain steps; or
         3. 2.3.8.3The Ombudsman may make any other order which a Court may make.

Download the Complaints Policy document as a PDF.