1 reviews | Active since Aug 2010
Paid 27 years for R5000 reduced value because benefits ceased and they still refuse to cancel
My father paid 27 years for a policy that pays out R5000.00 because all additional benefits ceased at age 65. He paid until now for those benefits - nearly 20 years too long and they just advised it ceased. No refund of overpaid premiums or anything. We have requested a cancellation because only a fool would pay more money to get R5000.00 back, but they are ignoring the request and refuse to confirm the cancellation.
Dear Hannelie Jacobs
We acknowledge receipt of your complaint.
Regrettably it does not contain sufficient information in order for us to investigate adn respond appropriately.
One of our Client Care Assessors will be contacting yoru shortly to obtain more information.
Regards
Client Care Team
Dear Hannelie Jacobs
We acknowledge receipt of your complaint.
Regrettably it does not contain sufficient information in order for us to investigate adn respond appropriately.
One of our Client Care Assessors will be contacting yoru shortly to obtain more information.
Regards
Client Care Team
Dear Ms. Jacobs
We have received your email - thank you.
We will investigate and respond as soon as possible.
Regards
Client Care Team
Dear Ms. Jacobs
We have received your email - thank you.
We will investigate and respond as soon as possible.
Regards
Client Care Team
Dear Ms. Jacobs
Thank you for your additional comments.
We agree we explained the product's benefit structure to you and your father in our response, to ensure you and he realise that the policy had more benefits than were listed in your complaint and what he stands to lose if he proceeds with the cancellation.
It is our duty to clarify any misconceptions that may have led to his decision, to ensure he makes an informed decision, more especially so because obtaining alternative cover at his age becomes very expensive, assuming he can still obtain cover.
We explained the nature of risk insurance and that just because no claim realised, doesn't mean that we did not provide him with the cover he app**** for. His and his family's death benefit have not expired only certain (free) supplementary benefits did when he turned 65 years old.
These benefits were on the policy from inception date and were always going to expire at age 65 - i.e. the policy remained the same as it was when he app**** for it. He app**** for a funeral policy - the supplementary benefits were free - we did not (and could not) change anything on the plan.
We explained that Metropolitan would have been liable for the applicable death benefits, regardless of how many premiums were received on the policy at the time of a valid claim occurring.
The nature of a Group scheme is unfortunately so, that some clients end up paying only a few premiums before a valid claim realises, whereas others pay for many years, because they live longer. Whichever the scenario, we are still liable for the full applicable claim amount while he was paying his premiums.
Pertaining to the cancellation request - Only the policy owner may cancel his policy.
We confirm that we only received your power of attorney - not the signed cancellation letter from your father.
We have responded that we require the cancellation letter, signed by your father.
If you have previously sent it, please re-send it to the Complaints Assessor directly, so that we may have his request prioritised.
Regards
Client Care Team
Dear Ms. Jacobs
Thank you for your additional comments.
We agree we explained the product's benefit structure to you and your father in our response, to ensure you and he realise that the policy had more benefits than were listed in your complaint and what he stands to lose if he proceeds with the cancellation.
It is our duty to clarify any misconceptions that may have led to his decision, to ensure he makes an informed decision, more especially so because obtaining alternative cover at his age becomes very expensive, assuming he can still obtain cover.
We explained the nature of risk insurance and that just because no claim realised, doesn't mean that we did not provide him with the cover he app**** for. His and his family's death benefit have not expired only certain (free) supplementary benefits did when he turned 65 years old.
These benefits were on the policy from inception date and were always going to expire at age 65 - i.e. the policy remained the same as it was when he app**** for it. He app**** for a funeral policy - the supplementary benefits were free - we did not (and could not) change anything on the plan.
We explained that Metropolitan would have been liable for the applicable death benefits, regardless of how many premiums were received on the policy at the time of a valid claim occurring.
The nature of a Group scheme is unfortunately so, that some clients end up paying only a few premiums before a valid claim realises, whereas others pay for many years, because they live longer. Whichever the scenario, we are still liable for the full applicable claim amount while he was paying his premiums.
Pertaining to the cancellation request - Only the policy owner may cancel his policy.
We confirm that we only received your power of attorney - not the signed cancellation letter from your father.
We have responded that we require the cancellation letter, signed by your father.
If you have previously sent it, please re-send it to the Complaints Assessor directly, so that we may have his request prioritised.
Regards
Client Care Team
Dear Ms. Jacobs.
Thank you again for your additional comments.
We have explained in our correspondences that the benefits on the policy don't include an endowment component and as such does not accumulate values the longer one pays for it.
Each month the premium paid renews the full cover amount selected for that month.
We have never claimed that you are not acting in your father's interest, but had to ensure you and your father know the full implications of cancelling your father's policy, before making a final decision.
The power of attorney you have supp**** is in order, however the copy of your ID and your father's ID is very unclear at our end.
Please submit a clear and recently certified copy of your and your father's ID's to our Client Care Assessor, in order for us to be able to proceed with the cancellation instruction.
Upon receipt thereof, we will be able to proceed with your request.
Regards
Client Care Team
Dear Ms. Jacobs.
Thank you again for your additional comments.
We have explained in our correspondences that the benefits on the policy don't include an endowment component and as such does not accumulate values the longer one pays for it.
Each month the premium paid renews the full cover amount selected for that month.
We have never claimed that you are not acting in your father's interest, but had to ensure you and your father know the full implications of cancelling your father's policy, before making a final decision.
The power of attorney you have supp**** is in order, however the copy of your ID and your father's ID is very unclear at our end.
Please submit a clear and recently certified copy of your and your father's ID's to our Client Care Assessor, in order for us to be able to proceed with the cancellation instruction.
Upon receipt thereof, we will be able to proceed with your request.
Regards
Client Care Team