FNB Life is processing between 2,000 to 3,000 claims a day to rapidly increase the resolution of valid claims while shortening waiting periods, chief executive Lee Bromfield said in a statement.

Some South Africans have been unable to meet their credit repayment obligations due to a lack of income during a national lockdown aimed at limiting the spread of the coronavirus, which has restricted business activity.

Bromfied said in some instances, due to lockdown restrictions, some customers were taking longer to provide the documentation required to validate their claims, leading to delays.

"Where this is the case, we assess every situation on its individual merits to ensure that all valid claims are processed," he said.

According to South Africa's National Credit Act, credit life insurance is payable in the event of death, disability, terminal illness, unemployment or other insurable risks that are likely to impair consumers' ability to earn an income or meet their obligations under a credit agreement.

Those who become unemployed or are unable to earn an income due to contracting Covid-19, or due to measures put in place to prevent the spread of the virus have the option of having their credit obligations deferred until they are able to find employment or earn an income.

African News Agency (ANA)