Unfair treatment

Hello Peter. My name is kagiso, i have several policies with metropolitan since 2012/2013.

For all these years I’ve been paying my premium directly from my payslip. I chose this payment method to avoid missed payments, complications or any other inconveniences. I recently needed to make changes on my policy; changing beneficiary only to be told that I had no life cover, confused and panicking as it is something i knew I had, since i trust Metropolitan I app**** for a life cover. I didn't realise that Metropolitan had done a huge mistake! I don't want to imagine what would have happened if something happened to me!

It is with great sadness that before I realised that while metropolitan was deducting from my salary I was nominated as a beneficiary for my own policy and my beneficiary was the one who was covered.

I went to check what i have on my policy and what can i add or change and life cover wasn’t there. I then opened a new life cover from the advice of the consultant. But then when the policy commenced in October 2022 they had to deduct from my bank account because apparently the law doesn’t allow an individual to go over a certain percentage with regard to policy deduction from a salary. I’ve enquired and the investigation were conducted and this February the conclusion was that they returned my life cover to me as the owner but they l told me i either have to convert the newly opened life cover to retirement or cancel it because there won’t be any refund? I also have investment money that doesn’t even have any premium! it is labelled as paid up but they refuse to pay it and i would like the reason thereof!

My knowledge with early withdrawals is that they have to place a penalty but they are just refusing. Please i need help I don’t have any money laying around to just throw it away! What pains me is that they act as if it was my fault that they changed my policy! They show no remorse and they don't give solutions! While they made a huge typing error that could cost me a lot of money! I still ask, what would have happened if I had left this world early! I need advise. People who have Metropolitan to check on their policies!