S
Sello
1 reviews | Active since Nov 2021
25 Apr 2023, 15:20
Metropolitan is a ****
I send them email last week thursday,because they send me a paid up form which I fill,the same Thursday I send the form to them,still today no one is communicating with,today I send them more emails,but nothing,and it's my money that I'm fighting for,I'm not asking for a loan,I want my money
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Metropolitan Life's replyOfficial
26 Apr 2023, 09:50Dear Sello
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to read that you have encountered difficulties with making your policy Paid-up and note that you seem to be expecting funds to be paid from the policy with this Paid-up transaction. This is a miss-conception.
Please be advised that when one stops paying one's premiums, a premium debt occurs on the policy .
In order to avoid this, one may apply to make one's policy Paid-up, at which time:
We confirm that there is no pay--out by applying to make one's policy Paid-up.
One of our Escalation Specialists will reach out to you shortly, to respond to you on how your specific policy is affected.
Regards
Client Care Team
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to read that you have encountered difficulties with making your policy Paid-up and note that you seem to be expecting funds to be paid from the policy with this Paid-up transaction. This is a miss-conception.
Please be advised that when one stops paying one's premiums, a premium debt occurs on the policy .
- As long as there is sufficient value in the policy's investment fund, to cover the debts (premium and/or loan debt) on the policy, the policy will remain active.
- As soon as the debts (premium and loan debt) exceed the value of the investment fund of a policy, the policy will lapse.
In order to avoid this, one may apply to make one's policy Paid-up, at which time:
- premium and loan debts that may exist on the policy (if any) are settled from the investment fund of the policy
- the policy is made paid-up for a reduced amount
- premiums are no longer expected on the policy till maturity date or until it comes out of its legislative restriction period and the policy owner surrenders the policy.
We confirm that there is no pay--out by applying to make one's policy Paid-up.
One of our Escalation Specialists will reach out to you shortly, to respond to you on how your specific policy is affected.
Regards
Client Care Team
Metropolitan Life's reply26 Apr 2023, 09:50
Official
Dear Sello
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to read that you have encountered difficulties with making your policy Paid-up and note that you seem to be expecting funds to be paid from the policy with this Paid-up transaction. This is a miss-conception.
Please be advised that when one stops paying one's premiums, a premium debt occurs on the policy .
In order to avoid this, one may apply to make one's policy Paid-up, at which time:
We confirm that there is no pay--out by applying to make one's policy Paid-up.
One of our Escalation Specialists will reach out to you shortly, to respond to you on how your specific policy is affected.
Regards
Client Care Team
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to read that you have encountered difficulties with making your policy Paid-up and note that you seem to be expecting funds to be paid from the policy with this Paid-up transaction. This is a miss-conception.
Please be advised that when one stops paying one's premiums, a premium debt occurs on the policy .
- As long as there is sufficient value in the policy's investment fund, to cover the debts (premium and/or loan debt) on the policy, the policy will remain active.
- As soon as the debts (premium and loan debt) exceed the value of the investment fund of a policy, the policy will lapse.
In order to avoid this, one may apply to make one's policy Paid-up, at which time:
- premium and loan debts that may exist on the policy (if any) are settled from the investment fund of the policy
- the policy is made paid-up for a reduced amount
- premiums are no longer expected on the policy till maturity date or until it comes out of its legislative restriction period and the policy owner surrenders the policy.
We confirm that there is no pay--out by applying to make one's policy Paid-up.
One of our Escalation Specialists will reach out to you shortly, to respond to you on how your specific policy is affected.
Regards
Client Care Team