Financial Advisors, ********** and *****

Financial Advisors, ********** and ***** be careful.

In 2015 I had a policy with Liberty Life which I opened through a financial advicer. I insured my daughter and my mother since my father passed away. The financial adviser told me that the cover (life cover) covers a Will, loss of income, death, disabilities. We agreed that the premium will be R966, 43 monthly starting from the month of August , which will increase yearly. To my surprise, last year (2021) I was retrenched, I then went to liberty offices to claim for loss of income. They told me that I didn't open a retrenchment policy. I asked for my agreement documents, that is when I found that my beneficiaries were changed to be policy holders, my mother was the policy holder while I was made the beneficiary, at that time I was already paying the amount of R2828,18 monthly. I enquired about that amount, they told me I was paying so much because my of my mother's age. The advicer once asked for my mother's address, saying he is going to check her health, I believe that is when he opened a policy in her name.

So far I did not get any money from what I have been paying ever since 2015, I am jobless and have no income. I did report the matter to Ombudsmen and the astute but I didn't receive any help.