TT
Tabisile T
1 reviews | Active since Jul 2025
28 Jul 2025, 11:30
Metropolitan refuse to give me my money I take the police of 5 yrs but now it's says 15 yrs without me
Metropolitan refuse to give me my money I take the police of 5 yrs but now it's says 15 yrs without me .I want know who did this
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Metropolitan Life's replyOfficial
28 Jul 2025, 12:15Dear Tabisile
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to read about your disappointment regarding the restriction to access of funds in your policy.
Please note that 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
If you have done a withdrawal on your policy in the first 5 years of its term (or after an increase of more than 20 % of the average of the previous 2 years premiums), we are not allowed to grant you access to another withdrawal until the restriction/s have expired.
This is not a Metropolitan Term and Condition that we can waive or over-rule. It is a legislative restriction that applies to all insurers.
One of our Escalation Specialists will reach out to you shortly to advise you on how this applies to your specific policy.
Regards
Metropolitan Client Care Team
We are sorry to read about your disappointment regarding the restriction to access of funds in your policy.
Please note that 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
If you have done a withdrawal on your policy in the first 5 years of its term (or after an increase of more than 20 % of the average of the previous 2 years premiums), we are not allowed to grant you access to another withdrawal until the restriction/s have expired.
This is not a Metropolitan Term and Condition that we can waive or over-rule. It is a legislative restriction that applies to all insurers.
One of our Escalation Specialists will reach out to you shortly to advise you on how this applies to your specific policy.
Regards
Metropolitan Client Care Team
Metropolitan Life's reply28 Jul 2025, 12:15
Official
Dear Tabisile
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to read about your disappointment regarding the restriction to access of funds in your policy.
Please note that 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
If you have done a withdrawal on your policy in the first 5 years of its term (or after an increase of more than 20 % of the average of the previous 2 years premiums), we are not allowed to grant you access to another withdrawal until the restriction/s have expired.
This is not a Metropolitan Term and Condition that we can waive or over-rule. It is a legislative restriction that applies to all insurers.
One of our Escalation Specialists will reach out to you shortly to advise you on how this applies to your specific policy.
Regards
Metropolitan Client Care Team
We are sorry to read about your disappointment regarding the restriction to access of funds in your policy.
Please note that 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
If you have done a withdrawal on your policy in the first 5 years of its term (or after an increase of more than 20 % of the average of the previous 2 years premiums), we are not allowed to grant you access to another withdrawal until the restriction/s have expired.
This is not a Metropolitan Term and Condition that we can waive or over-rule. It is a legislative restriction that applies to all insurers.
One of our Escalation Specialists will reach out to you shortly to advise you on how this applies to your specific policy.
Regards
Metropolitan Client Care Team