I got a phone-call yesterday that seriously ticked me off. I felt cheated by the caller because, effectively it was a sales call. And it went something like this:
- ABSA: Can I speak to Mr Tony Seeeefaaaat please.
- ME: Speaking.
- ABSA: Mr Seeeefaaaat, this is X from ABSA Vehicle Finance and I have been asked to inform you about a problem we have discovered with your Vehicle Finance from us.
- ME: *panic* uhm, OK
- ABSA: Yes, Mr Seeeeefaaat is seems your Asset Protection was never initiated and this has us very concerned. Your Vehicle is now exposed should something happen.
- ME: Huh? What do you mean? My insurance is with Mutual and Federal, not with ABSA.
- ABSA: No sir, this is not insurance – it is when you die, then ABSA will pay up the premiums so your family is not left with the debt.
- ME: But that is insurance, right? Wait a minute – this is a Sales Call?
- ABSA: No sir – it is something important – we must activate your Asset Protection immediately. It is only R630 per month.
- ME: WHAT! That’s almost my insurance premiums! I’m not paying that!
- ABSA: This is not insurance, sir – it is Asset Protection when you die. We have a Plan B which is only R380 per month.
- ME: I don’t want it. If I’m dead, I’m dead – you can take the car back.
- ABSA: *click*
OK, I am used to sales calls – they’re a part of life, but this one was downright incredible. The Caller completely made out that it was non-optional and that a “dreadful” mistake was made on behalf of the bank. I have 51 months left on the car, and at R630 per month, that’s an extra R32 000 in ABSA’s pocket.
The Caller insisted this was not insurance – well then what would you call it?
Also, I wonder how many unsuspecting ABSA clients have been duped into this unnecessary insurance.
TIP: Never signup anything over the phone – it’s highly pressurised and should be made illegal. Rather insist on seeing the documentation first – or tell them to bugger off.