Customer claim experiences
Experience One
A GE Money customer took out Term Life Insurance to cover his debts and provide an income stream for his wife and two children in the event of his death. Tragically, a year later the customer suffered a heart attack and died.His wife, who stayed at home to look after their two young children, was devastated. With funeral expenses to sort out, personal loan repayments and young children to support, she took comfort in the knowledge that her husband’s Term Life policy would lift some of the financial burden.
She telephoned the GE Money Claims Department and the claim was established over the phone. Shortly afterwards a much needed cheque for the policy proceeds, arrived at the house.
At an emotionally difficult time, it was comforting not to have the additional worry of financial problems.
Experience Two
Excited about the impending arrival of his first child, a new GE Money customer went into his local branch to obtain a Personal Loan so that he and his wife could buy items in preparation for the birth of their child: a cot, stroller, clothes and materials to redecorate the baby’s room.At the same time he decided to take out Personal Loan Insurance.
A few months later, his wife gave birth to a baby boy. Unfortunately, the following week the customer was advised that his company was downsizing staff and that he was no longer required. He was shocked with this unexpected news and he was then forced to work out how he and his wife would meet their financial commitments. He then remembered the Personal Loan Insurance he had taken out with his loan.
When he got home, he was relieved to discover that his loan repayments were covered for three months while he actively looked for another job. He contacted the claims department and registered a claim on his policy. This was approved and his loan repayments were paid.
Two months later, he found a new job.
Looking back, it was a relief to the couple that despite the retrenchment, they could enjoy the birth of their son without the stress of sudden financial pressure.
Experience Three
A married couple looking to finance an extension to their house applied for a joint personal loan from GE Money and at the same time decided to take out Personal Loan Insurance. They hoped that they wouldn’t need to use this insurance, but thought it was a good idea to ensure that they were protected.Two years later, the husband was involved in a serious car accident and was hospitalised for several weeks. Upon leaving hospital, he still faced several months of rehabilitation before he would be able to walk again.
The couple were not sure if they would be eligible to claim on their Insurance, but one phone call to GE Money put their minds at rest. Their claim was approved and the loan repayments continued to be made whilst the husband was unable to work.
Accidents and illness can strike anyone out of the blue and these customer’s consider themselves fortunate that they had planned ahead.
These examples are based on actual claims made by GE Money customers.