Clientèle extends lifeline to AIG funeral policyholders
Johannesburg - Clientèle Limited, recognising the vital role of insurance for all South Africans, has taken immediate action to address the situation faced by AIG South Africa funeral policyholders, who are on the verge of being left uninsured from January 31, 2024.
In response to AIG’s decision, Clientèle has proactively provided a solution by offering existing AIG funeral policyholders an equivalent level of funeral cover at the same price point, with no new waiting periods. This ensures that these funeral policyholders can continue to enjoy financial protection and peace of mind.
Basil Reekie, Managing Director of Clientèle Limited, stated, "We recognise the unfortunate predicament policyholders are faced with, as the termination of AIG policies will render them without any cover."
This decision comes in response to the recent announcement by the American International Group (AIG), a prominent player in the insurance industry, regarding their withdrawal from the South African funeral cover market. Starting at midnight on January 31, 2024, AIG South Africa's funeral policyholders will find themselves without their funeral policies. Acknowledging the hardship and vulnerability this situation poses for policyholders, particularly given the common six-month waiting period associated with funeral policies, Reekie expressed, “We felt compelled to extend this lifeline, ensuring that they remain safeguarded during the challenging times that often necessitate funeral cover."
Clientèle reaffirms its unwavering commitment to prioritising funeral cover, adding, "Funeral cover remains a cornerstone of our commitment to our customers. With this opportunity, current AIG funeral policyholders can rest assured that they will continue to enjoy financial protection and the peace of mind they rightfully deserve."