MF
Mzukisi F
1 reviews | Active since Dec 2021
15 Dec 2021, 14:36
Refund of my investment
I am certainly not happy with the treatment I am getting from the company I have been requesting the company to refund my investment which I canceled 3 years ago and I have been taken from pillar to post and that my investment has a restricted status of which I will only be able to access it next year.The truth is I am in need of this money as I am facing crisis and I am not asking the company to borrow me anything but to refund my hard earned cash.The company is keeping myoney and they are enriching themselves whirlst I am in sorrow needing the money.
Helpful (0)
Replies (1)0
Replies (1)
Metropolitan Life's replyOfficial
15 Dec 2021, 14:48Dear Mzukisi
We acknowledge receipt of your complaint on HelloPeter.
Kindly note 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.
One of our Client Care Assessors will explain how this may apply to your policy.
Regards
Client Care team
We acknowledge receipt of your complaint on HelloPeter.
Kindly note 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.
One of our Client Care Assessors will explain how this may apply to your policy.
Regards
Client Care team
Metropolitan Life's reply15 Dec 2021, 14:48
Official
Dear Mzukisi
We acknowledge receipt of your complaint on HelloPeter.
Kindly note 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.
One of our Client Care Assessors will explain how this may apply to your policy.
Regards
Client Care team
We acknowledge receipt of your complaint on HelloPeter.
Kindly note 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.
One of our Client Care Assessors will explain how this may apply to your policy.
Regards
Client Care team