SN
Sphiwe N

1 reviews | Active since Mar 2017

14 Dec 2017, 12:16

Bad returns on investments without any clearification and answers

My name is Sphiwe Marlon Nkosi, policy holder with Metropolitan, I have concerns with what I will be paid out after paying R560 for almost 5 years. The problem is I don’t see any interest in this investment than the monies I was paying in. yes I took R3000 before and further borrowed R10 000 which was paid back with interest this year September in full, the documents I received though state that I owe Metropolitan, how so for I paid back over R11 000 for the R10 000 I paid in, now I multip**** that what I was paying for over 55 Months and the amounts comes back to almost R28 000 which I what I will receive, where is the interest in all this???, how much did I accumulate?, for this is starting to look like an savings account than it is an investment policy, regrettable decision this.

THIS EMAIL I SENT TWICE RECEIVED NO RESPONSES WHAT SO EVER

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Replies (3)
Metropolitan Life
Metropolitan Life's reply14 Dec 2017, 13:17
Official

Dear Mr. Nkosi

Thank you for raising your concerns with us.

We regret that you are dissatisfied with your policy performance.

Please remember that an investment policy is not a bank account and does not earn interests as such. The investment fund of an Endowment policy attracts bonuses, each year when the company declares profits. Remember, the larger your policy's investment fund, the more bonuses it will attract.

One of our Client Care Assessors will investigate your complaint and contact you via return email.

Regards

Client Care Team.

SN
Sphiwe N's update14 Dec 2017, 13:53
Reviewer Update
when i started the policy in 2012, i was told that the amount will amount to R49 000 likely, i was told this using this wheel that one of the agents had, but my question, from the amount that i am told will pay out, that amount is almost equal if not lesser to the total installments i used to pay monthly, lastly I had sent emails pertaining to my query, its amazing how quick the response is on this platform, do not take your clients for granted. thanks anyways for the quick response, looking forward to the outcomes of your investigations.
Metropolitan Life
Metropolitan Life's reply14 Dec 2017, 14:14
Official

Dear Mr. Nkosi

Thank you for your additional comments.

We will revert back to you as soon as possible.

Regards

Client Care Team