Absa allows mortgage skip

Mila said:
Oke If I get this right. Why do they only do it for people with Aids and under a certain homeloan amount? Why not for everybody?
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It's a good point. What about people with cancer on chemotherapy or in remission?
What about people with coronary artery disease? Not just from bad habits (smoking, obesity, high fat diet) but also because of genetically bad coronary arteries?
What about people with severe asthma or diabetes?
How about people on chronic meds for rheumatoid arthritis or systemic lupus?

There are many diseases which have reduced life expectancy, terrible consequences and drug side effects. Why not give these people something too?

This may encourage people to become HIV positive. Certainly disability grants have encouraged people to lapse their ARV treatment to lower their CD4 counts and be put on disability grants. People with HIV on ARV with high CD4 counts do not qualify for such grants.
 
JungleBoy said:
As someone said before, no one is stopping you from becoming poor and HIV+. If you feel so peeved about this then go for it.
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WTF are you on about?

PeterCH said:
It's a good point. What about people with cancer on chemotherapy or in remission?
What about people with coronary artery disease? Not just from bad habits (smoking, obesity, high fat diet) but also because of genetically bad coronary arteries?
What about people with severe asthma or diabetes?
How about people on chronic meds for rheumatoid arthritis or systemic lupus?

There are many diseases which have reduced life expectancy, terrible consequences and drug side effects. Why not give these people something too?

This may encourage people to become HIV positive. Certainly disability grants have encouraged people to lapse their ARV treatment to lower their CD4 counts and be put on disability grants. People with HIV on ARV with high CD4 counts do not qualify for such grants.
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Oh My now you are going to go on the Ignore lists as well.
 
so some of you are angry that you'll end up paying for this somehow.

are you also angry that you are young and healthy and on medical aid and therefore subsidizing all the old and sickly on medical aid?

are you angry that you have dstv for just the sport and therefore subsidize all those who watch movies and discovery?

are you also angry that the government subsidizes your bread, milk and pap?
 
imajin said:
so some of you are angry that you'll end up paying for this somehow.

are you also angry that you are young and healthy and on medical aid and therefore subsidizing all the old and sickly on medical aid?

are you angry that you have dstv for just the sport and therefore subsidize all those who watch movies and discovery?

are you also angry that the government subsidizes your bread, milk and pap?
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Actually, we (taxpayers) subsidize the poor's bread and milk... but anyhow.

Insurance is exactly that - lump a truckload of peoples subs together, and hope that not all of them claim at any point in time... If you never claim on your vehicle insurance, do you get upset that you paid for some person who totalled their car? I haven't seen anywhere that this insurance is free, why are we assuming its coming from other peoples fees/interest?
 
imajin said:
are you also angry that the government subsidizes your bread, milk and pap?
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Nope I dislike and would set fire to them because they steal, rape, cheat spew shyte and is proud of it.

More?

yes and I do benefit from paying my insurance in the end. When I'm old and the young ones pay for me.
How will this benefit anybody?
 
grayston said:
I must say Mila, it sounds like you're having MAJOR sour grapes because you're healthy and not dying from an incurable disease and yet you still have to pay your mortgage in full every month. Life must be tough, ey? You can go into the ignore list for a while.
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Oh my god. Another Grayston gem. Got the cat by the tail as usual. Can I go on your ignore list as well? Forever? rolleyeS:
 
An again none of the geniuses here could answer this: Why do ONLY do this for AIDS sufferers and not people with MS or cancer or some other terminal disease? :confused:
 
Slootvreter said:
An again none of the geniuses here could answer this: Why do ONLY do this for AIDS sufferers and not people with MS or cancer or some other terminal disease? :confused:
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Because AIDS affects the poor -- *mostly*. And because it's a high-profile disease. And because most of the country's AIDS sufferers are in no fit position to afford a house in the first place.

I think it's safe to say that a bank has probably crunched the numbers and realised that the occasional R4000 loss from a sick defaulter will be nicely offset by the positive publicity they'd get in return.

What a shame they never thought that a lot of South Africans think that sick people - and especially sick poor people - have no business being alive in the first place and should all expire quietly for the good of the volk. I mean the reich. I mean ... you know what I mean.
 
Slootvreter said:
Oh my god. Another Grayston gem. Got the cat by the tail as usual. Can I go on your ignore list as well? Forever? rolleyeS:
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Dude. Just put *me* on *your* ignore list. Or would that be too difficult for you? ;-)
 
Slootvreter said:
An again none of the geniuses here could answer this: Why do ONLY do this for AIDS sufferers and not people with MS or cancer or some other terminal disease?
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Because all those people can get income protection policies already.

The article is unclear on the conditions for this type of policy:
1. Is this cover available pre or post of the risk event (and HIV+ diagnosis) happening, or does it cover both?
2. The article refers to HIV+ people. What about when they progress to AIDS?
3. Does the income protection continue after the holder's death or will the bank have to repossess the house if the dependants cannot afford the bond payments?

All of these will affect the risks to the insurer quite significantly and it may be because of very strict conditions that they are able to offer this to people with low incomes.
 
it will not give you a prime interest rate so you could still get a better deal somewhere else if you qualify but this will be open to abuse for sure
 
Sounds to me like a nice new money spinner for Absa. Play on HIV positive people's fears and make some more money off of them from insurance premiums. You can bet your bottom dollar that this cover will be limited to one or two payments, which will then be added to the capital loan and charged compounded interest, and that the premiums will be as big a racket as funeral policies are to this same market.

Absa thinking out the box, don't mistake it for charitable thinking, it's business pure and simple.
 
Slootvreter said:
An again none of the geniuses here could answer this: Why do ONLY do this for AIDS sufferers and not people with MS or cancer or some other terminal disease? :confused:
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I can think of only one reason - there is a massive social stigma still attached to HIV - mostly from employers and the community. Medical Aids and Employers and probably banks are forbidden from discriminating against people with HIV however. This already exists in law. It may even be a specific protection above ordinary protections against people with illnesses and disabilities in the constitution.
 
dlk001 said:
Because there are already insurances that offer Income Protection against dread deceases you mentioned.
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HIV is protected by law, you can't discriminate against people with HIV (even if you're a medical aid).
 
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