1 reviews | Active since Aug 2024
Poor service from Metropolitan life in life cover claim
I am very much uncertified with the poor service of metropolitan life regarding claiming for a life cover policy of my late father. I have submitted all the relevant documents that was requested for the claim which was due for payout. myself and siblings are the beneficiaries of the policy but to my surprise I was informed by one of the consultants that only my late father's partner will receive the lump sum of the claim on behalf of her daughter which is my half sister. I was informed that I won't receive the portion of the claim as I have exceeded the age of 21.upon submission of the documents that were requested was the W1002 beneficiary forms from GEPF which I never got an explanation of why were they needed. I'm seeking clarify regarding the matter because I feel that metropolitan failed me as the main beneficiary of this policy. The referred policy number in this regard is ***. Your assistance will be highly appreciated
We acknowledge receipt of your complaint on HelloPeter.
Please accept our sincere condolences at the loss of your beloved parent.
Please be advised that a Retirement Annuities do not fall under the provisions of the Long Term Insurance Act like Life cover policies and they do not have "beneficiaries" in the traditional sense of the word.
The member of the fund may list/indicate nominees on their policy as a guideline of whom to consider distributing proceeds to. However, Retirement Annuities falls under the following two pieces of legislation:
- Pension Funds Act
- Income Tax Act
As such, we have to distribute the death claim proceeds in terms of Regulation 37C of the Pension Funds Act. This means we may only pay to legal and/or financial dependents of the deceased.
We do a Section 37 C investigation to establish who th4e deceased's legal and financial dependents are and to what extent they were dependent on the deceased, in order for our Board of Trustees to distribute the proceeds of the deceased member's retirement fund.
This investigation may take up to 12 months, but we are committed to finalize it as swiftly as possible.
One of our Escalation Specialists will investigate the claim and revert back to you directly via email as soon as possible.
Regards
Client Care Team
We acknowledge receipt of your complaint on HelloPeter.
Please accept our sincere condolences at the loss of your beloved parent.
Please be advised that a Retirement Annuities do not fall under the provisions of the Long Term Insurance Act like Life cover policies and they do not have "beneficiaries" in the traditional sense of the word.
The member of the fund may list/indicate nominees on their policy as a guideline of whom to consider distributing proceeds to. However, Retirement Annuities falls under the following two pieces of legislation:
- Pension Funds Act
- Income Tax Act
As such, we have to distribute the death claim proceeds in terms of Regulation 37C of the Pension Funds Act. This means we may only pay to legal and/or financial dependents of the deceased.
We do a Section 37 C investigation to establish who th4e deceased's legal and financial dependents are and to what extent they were dependent on the deceased, in order for our Board of Trustees to distribute the proceeds of the deceased member's retirement fund.
This investigation may take up to 12 months, but we are committed to finalize it as swiftly as possible.
One of our Escalation Specialists will investigate the claim and revert back to you directly via email as soon as possible.
Regards
Client Care Team