BM
Bavley M
1 reviews | Active since Apr 2021
09 Apr 2021, 14:35
Cancellation of stop order
I’m highly disappointed by Metropolitan life investment,ai have been trying to cancel my policy with them sending emails and even going to Midrand branch even today i haven’t received the help I need. Whenever i call the headquarters there’s always an excuse from that side saying i should send all my documents and after doing that i don’t even get a feedback from them. I don’t want anything to do with them anymore I’m emotionally drained.
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Metropolitan Life's replyOfficial
09 Apr 2021, 16:41Dear Bavley
We acknowledge receipt of your complaint on HelloPeter.
Please be advised that once a policy has acquired values, it cannot merely be cancelled - it must be surrendered or made paid-up.
If the policy is less than 5 years old and you have already withdrawn funds from the policy (partial surrender) you may not surrender the policy until the restriction period of 5 years (in terms of Regulation 4.2 of the Long Term Insurance Act) has expired.
Then, the only remaining option to stop paying premiums is for you to apply to make your policy paid-up till the restriction period has expired and then surrender it once the restriction period is over.
One of our Client Care Assessors will investigate your complaint and revert back to you as soon as possible
Regards
Client Care Team
We acknowledge receipt of your complaint on HelloPeter.
Please be advised that once a policy has acquired values, it cannot merely be cancelled - it must be surrendered or made paid-up.
If the policy is less than 5 years old and you have already withdrawn funds from the policy (partial surrender) you may not surrender the policy until the restriction period of 5 years (in terms of Regulation 4.2 of the Long Term Insurance Act) has expired.
Then, the only remaining option to stop paying premiums is for you to apply to make your policy paid-up till the restriction period has expired and then surrender it once the restriction period is over.
One of our Client Care Assessors will investigate your complaint and revert back to you as soon as possible
Regards
Client Care Team
Metropolitan Life's reply09 Apr 2021, 16:41
Official
Dear Bavley
We acknowledge receipt of your complaint on HelloPeter.
Please be advised that once a policy has acquired values, it cannot merely be cancelled - it must be surrendered or made paid-up.
If the policy is less than 5 years old and you have already withdrawn funds from the policy (partial surrender) you may not surrender the policy until the restriction period of 5 years (in terms of Regulation 4.2 of the Long Term Insurance Act) has expired.
Then, the only remaining option to stop paying premiums is for you to apply to make your policy paid-up till the restriction period has expired and then surrender it once the restriction period is over.
One of our Client Care Assessors will investigate your complaint and revert back to you as soon as possible
Regards
Client Care Team
We acknowledge receipt of your complaint on HelloPeter.
Please be advised that once a policy has acquired values, it cannot merely be cancelled - it must be surrendered or made paid-up.
If the policy is less than 5 years old and you have already withdrawn funds from the policy (partial surrender) you may not surrender the policy until the restriction period of 5 years (in terms of Regulation 4.2 of the Long Term Insurance Act) has expired.
Then, the only remaining option to stop paying premiums is for you to apply to make your policy paid-up till the restriction period has expired and then surrender it once the restriction period is over.
One of our Client Care Assessors will investigate your complaint and revert back to you as soon as possible
Regards
Client Care Team