National Financial Ombud recovers R140 million for life insurance claimants

THE National Financial Ombud (NFO) has announced that from January 2025 to date, its Life Insurance Division has recovered a total of R140,688,800 (R140.6 million) in respect of claims, including declined claims that were reversed, as well as compensation awarded for poor service.

- DIEKETSENG MALEKE

The NFO says that since the beginning of the year, the division has helped unlock millions of rands in claim reversals and service-related compensation, funds that were previously out of reach for grieving families and vulnerable policyholders.

It says these victories, however, are not merely financial. They represent a deeper commitment to fairness, accountability, and restoring dignity to South Africans navigating the complexities of the insurance sector.

The (NFO) describes itself as a single, one-stop dispute resolution service, comprising four former longstanding industry ombud schemes: the Ombudsman for Short-Term Insurance, the Ombudsman for Long-Term Insurance, the Credit Ombud, and the Ombudsman for Banking Services. All services are provided free of charge.

Denise Gabriels, lead ombud of the Life Insurance Division of the NFO says: "Every day, South Africans face a barrage of troubling headlines, violence, corruption, despair. These stories weigh heavily on our national spirit. At the NFO, we don't ignore these realities. But we also believe in shining a light on something else: stories of fairness reclaimed, dignity restored, and hope renewed.