THE social media furore around the alleged failure of Old Mutual to pay a claim warrants an explanation about different types of claims and payouts involving insurance companies and retirement funds.
I won’t comment on the way Old Mutual handled the storm; my aim is to give you a better understanding of claims processes, so that if you have to claim for something one day you will know roughly what to expect.
Sometimes a financial services provider is inflexible and unreasonably harsh in refuting or delaying a claim. But more often than not