1 reviews | Active since Aug 2018
Dispute letter
My name is Zandisiwe Kela. I'm having a problem with Metropolitan. I've taken an investment policy with the policy number, ********** 441 two years ago, 2016. As I'm no longer interested due to various reasons, now I decided to cancel it. I went to Metropolitan branch and they refused to cancel it. Then I proceeded by writing to their head office, they still refused. As it is stipulated on their contract, I'm entitled to get the money that I've invested in that policy. I'm also aware about their early termination charges on this policy. So I still adamant to get refunds. Lastly, I hope that my dispute letter will receive your favorable considerations.
Dear Ms. Kela
We acknowledge receipt of your complaint.
We always strive to serve all our clients well and regret to learn of your disappointment.
Regrettably, it is not our policy terms and conditions that prevent you from surrendering your policy, but rather Legislation.
In terms of the provisions of the Long Term Insurance Act, one is allowed to do one loan and one surrender in the first 5 years of the policy's lifetime.
You have already exercised a partial surrender and loan in the first 5 years of the policy's lifetime. Subsequently we are not able to surrender the policy until the end of this 5-year restriction period.
One of our Client Care Assessors will contact you directly with more information soonest.
Regards
Client Care
Dear Ms. Kela
We acknowledge receipt of your complaint.
We always strive to serve all our clients well and regret to learn of your disappointment.
Regrettably, it is not our policy terms and conditions that prevent you from surrendering your policy, but rather Legislation.
In terms of the provisions of the Long Term Insurance Act, one is allowed to do one loan and one surrender in the first 5 years of the policy's lifetime.
You have already exercised a partial surrender and loan in the first 5 years of the policy's lifetime. Subsequently we are not able to surrender the policy until the end of this 5-year restriction period.
One of our Client Care Assessors will contact you directly with more information soonest.
Regards
Client Care