JM
Johann M

1 reviews | Active since Nov 2014

22 Apr 2022, 10:13

Shame on you Liberty Life

I am a financial advisor. A client has a Liberty Life "MULTIPLE-ACCESS INVESTMENT PLAN (300_MAE)" policy, which is open ended (past it's original maturity date). I have since May 2013 been attempting to appoint a nominee for ownership at death. It seems no-one in Liberty understands the concept of open-ended endowment policies. When appointing a nominee for ownership the nominee can continue or mature this policy at the death of the life assured. When appointing a beneficiary the policy has to be paid out at death the life assured with no option of continuing the policy. After lengthy discussions and ±8 hours on telephone calls been assured that they know what to do, it is still not done.

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