MM
Moeketsi M
1 reviews | Active since May 2012
20 Feb 2021, 12:22
Metropolitan
Shady and questionable business practices for insurance company. Been requesting statements or proof of transactions on Multi Cash Policy but no help at all. They keep changing goal posts, one day payout is R2000, the next it is R700. Been paying for 15 years, even though I have been withdrawing cash, can payout be that little? What happened to all the returns they promised?
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Metropolitan Life's replyOfficial
22 Feb 2021, 09:26Dear Moeketsi Moletsane
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to hear that you are disappointed with your policy's maturity value.
Metropolitan declares bonuses and adds these annually to the investment fund of your policy and aside from receiving your contributions, this is how your policy's investment fund grows - the larger the value of your investment fund, the larger is the bonus amount your policy's investment fund would attract for that year.
Please bear in mind that each time you withdraw funds from your policy, you take money out of the investment fund.
That money is therefore no longer available in the investment fund of your policy, to work for you by attracting these bonuses (returns) when Metropolitan declares bonuses annually.
One of our Client Care Assessors will investigate and revert back to you directly via email.
Regards
Client Care Team
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to hear that you are disappointed with your policy's maturity value.
Metropolitan declares bonuses and adds these annually to the investment fund of your policy and aside from receiving your contributions, this is how your policy's investment fund grows - the larger the value of your investment fund, the larger is the bonus amount your policy's investment fund would attract for that year.
Please bear in mind that each time you withdraw funds from your policy, you take money out of the investment fund.
That money is therefore no longer available in the investment fund of your policy, to work for you by attracting these bonuses (returns) when Metropolitan declares bonuses annually.
One of our Client Care Assessors will investigate and revert back to you directly via email.
Regards
Client Care Team
Metropolitan Life's reply22 Feb 2021, 09:26
Official
Dear Moeketsi Moletsane
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to hear that you are disappointed with your policy's maturity value.
Metropolitan declares bonuses and adds these annually to the investment fund of your policy and aside from receiving your contributions, this is how your policy's investment fund grows - the larger the value of your investment fund, the larger is the bonus amount your policy's investment fund would attract for that year.
Please bear in mind that each time you withdraw funds from your policy, you take money out of the investment fund.
That money is therefore no longer available in the investment fund of your policy, to work for you by attracting these bonuses (returns) when Metropolitan declares bonuses annually.
One of our Client Care Assessors will investigate and revert back to you directly via email.
Regards
Client Care Team
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to hear that you are disappointed with your policy's maturity value.
Metropolitan declares bonuses and adds these annually to the investment fund of your policy and aside from receiving your contributions, this is how your policy's investment fund grows - the larger the value of your investment fund, the larger is the bonus amount your policy's investment fund would attract for that year.
Please bear in mind that each time you withdraw funds from your policy, you take money out of the investment fund.
That money is therefore no longer available in the investment fund of your policy, to work for you by attracting these bonuses (returns) when Metropolitan declares bonuses annually.
One of our Client Care Assessors will investigate and revert back to you directly via email.
Regards
Client Care Team