tM
thembela M
1 reviews | Active since Jul 2020
03 Jan 2022, 11:54
Cash draw
Good day...can I please be assisted,father of my child passed on December 2019 and I claim some of the money and the contract I signed said the rest I will get 2025 and agreed because I thought the child will be getting some other money from the government but nothing and it's been 2yrs already now,I wrote an email to Metropolitan asking them to withdraw the rest of the cash because I'm struggling with the school fees for my child I'm even willing if they penalize me for breaching the contract because I'm really in need of cash for my child, I cannot go for a loan where as there's money that I can take from...please please help me
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Metropolitan Life's replyOfficial
03 Jan 2022, 12:24Dear Thembela
We acknowledge receipt of your complaint on HelloPeter.
Kindly note in terms of Regulation 4.2 of the Long Term Insurance Act, a policy is automatically restricted for the first 5 years of its existence to allow only one loan and one surrender, be it full or partial surrender. The same restriction rules apply when one increases one's policy premiums by more than 20% of the average of the previous two years premiums.
One of our Client Care Assessors will explain how this may apply to your policy.
Regards
Client Care Team
We acknowledge receipt of your complaint on HelloPeter.
Kindly note in terms of Regulation 4.2 of the Long Term Insurance Act, a policy is automatically restricted for the first 5 years of its existence to allow only one loan and one surrender, be it full or partial surrender. The same restriction rules apply when one increases one's policy premiums by more than 20% of the average of the previous two years premiums.
One of our Client Care Assessors will explain how this may apply to your policy.
Regards
Client Care Team
Metropolitan Life's reply03 Jan 2022, 12:24
Official
Dear Thembela
We acknowledge receipt of your complaint on HelloPeter.
Kindly note in terms of Regulation 4.2 of the Long Term Insurance Act, a policy is automatically restricted for the first 5 years of its existence to allow only one loan and one surrender, be it full or partial surrender. The same restriction rules apply when one increases one's policy premiums by more than 20% of the average of the previous two years premiums.
One of our Client Care Assessors will explain how this may apply to your policy.
Regards
Client Care Team
We acknowledge receipt of your complaint on HelloPeter.
Kindly note in terms of Regulation 4.2 of the Long Term Insurance Act, a policy is automatically restricted for the first 5 years of its existence to allow only one loan and one surrender, be it full or partial surrender. The same restriction rules apply when one increases one's policy premiums by more than 20% of the average of the previous two years premiums.
One of our Client Care Assessors will explain how this may apply to your policy.
Regards
Client Care Team