Financial services provider Momentum is facing backlash after it declined to pay R2.4 million to the family of a man who died in a hijacking, saying that he failed to disclose his high blood sugar levels.
Nathan Ganas was killed in March last year outside his Durban home.
Momentum says that its investigation has revealed that Ganas failed to disclose material details of his health at the start of his insurance policy in 2014.
His widow, Denise Ganas has now taken the matter to court.
Momentum CEO of Life Insurance Johann le Roux: “Let’s say for example that you took out a contract when you were young, you had heart problems that you weren’t aware of and didn;t disclose that and if you pass away from heart problems later on in life, clearly the claim will be valid because you weren’t aware of it. This is clearly an issue of did the client act in good faith when he took out the contract. Good faith means that you actually disclose appropriately and then we can act on that.”