“Unprecedented times call for real help and this is exactly what FNB Namibia is offering,” says Alna Booysen, FNB Premium and Consumer Head. “Not only are we extending a helping hand regarding numerous financing options, but we are also offering various options to our clients, which they need to be aware of and put in place in these trying times. This includes products and services such as wills and testaments, proxies, and funeral and life insurance policies.”
Over the past few weeks, the bank has seen an alarming increase in cases where customers are faced with the incapacity or death of a loved one who had handled the finances leaving the family in a very difficult position regarding basic day-to-day household expenses that, for example, need to be paid. Other families are facing significant debt due to rising medical expenses, while some will fight an uphill battle to finalise the loved one’s estate due to the lack of a last will and testament.
“We are aware of the challenges many of our customers face and thus offer real help in times of real needs,” says Booysen. “There is, for example, financial help on offer in the form of a loan or an overdraft to qualifying customers who have accumulated debt due to unforeseen circumstances particularly related to mounting medical bills. We also advise our customers to possibly free up some of their savings or investments and keep this handy, should cash be needed at short notice in the times we are in.”
The bank is, however, not only assisting financially but also in an advisory capacity through the Financial Planners and Fiduciary teams, recommending solutions to customers such as last wills, proxies, funeral cover and life insurance. “Many customers are unaware of the multitude of products and services that we can offer to lighten the burden of those faced with finalising the affairs of a loved one,” advises Booysen. “We assist in arranging the appointment of a proxy to your bank account if you should become incapacitated. This proxy mandates the appointed individual to use your bank account and continue to pay for household expenses if you are unable to do so. Further, it is of paramount importance to have your estate planning in order, or the right executor appointed, to ensure a smooth and speedy process.”
“Lastly – we also offer real help when it comes to funeral policies and life insurances. This pandemic has shown us just how unpredictable life can be and how stressful it is, if the financial affairs of a loved one are not in order,” concludes Booysen.