1 reviews | Active since Nov 2014
Think twice before signing up with Metropolitan - only interested in your money!!!
Part 1: I am extremely disappointed at Metropolitan Life!! I took out a funeral cover about 3 years ago and earlier this year it lapsed. I called them to ask if they could reinstate the policy and the consultant I spoke to on the phone said I cannot pay outstanding premiums but I can make one payment that can unlock my policy - at claims stage then they will deduct the outstanding premiums. I then made a payment of one premium which is R576 and called them back to ask if all was in order, this was now a different consultant I spoke to, who then said to me they cannot reinstate my policy and those premiums of R576 I've been paying for almost 3 years are forfeited. Where is integrity in all these? I explained to her what her colleague said to me and she said she would escalate the query and have her supervisor listen to the recording of our conversation, then they will make a decision and provide me with feedback. I have been waiting for two weeks now and I have not heard from Metropolitan, no email no call. Nothing! After being a loyal client for so many years this is the level of service I get, I am honestly so disappointed, with so much money I have paid!!! It does not end here, you guys really have to reinstate my policy as your consultant advised you would.
Part 2: I had an investment policy that Metropolitan refused to pay when I cancelled. Something they do not tell you upfront. Apparently I must wait for 2025 when the policy would have matured, the sad thing is, that money is not growing and the amount I will get then is the same as they would pay it out now. Can you pay out my money now, what is the point of keeping it if it is not generating an interest for me but for you?
We acknowledge receipt of your complaint.
We regret to learn of the difficulties you have encountered with your policy reinstatement and also your restricted policy.
Please be advised that your second complaint revolves around a restriction on your Endowment policy. This is not a Metropolitan term and condition that can be waived, but a legislative restriction:
- Please be advised 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.
Regards
Client Care Team
We acknowledge receipt of your complaint.
We regret to learn of the difficulties you have encountered with your policy reinstatement and also your restricted policy.
Please be advised that your second complaint revolves around a restriction on your Endowment policy. This is not a Metropolitan term and condition that can be waived, but a legislative restriction:
- Please be advised 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.
Regards
Client Care Team
Thank you for your additional comments.
Our Assessor will revert back to you on this aspect as well.
Regards
Client Care Team
Thank you for your additional comments.
Our Assessor will revert back to you on this aspect as well.
Regards
Client Care Team