LP
Lungile P
1 reviews | Active since Feb 2022
09 Feb 2022, 12:39
VERY SAD ABOUT THE SERVICE.
i want to surrender a policy and to pay for my school fees but the guy from metropolitan say they can not assist. 1. he re invested my money without my full concern about the investment 2.he did not offer me any other investment you guys have 3. he told me that i have 3 withdrawals the other money i will get it after 5 year 4. how am i suppose to survive. 5. he made me sign an loan form with out me knowing the it is an a loan form only to find out when i receive a letter of a statement that i took a loan. its been 2 months trying to fight this am tired now
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Replies (3)
Metropolitan Life's replyOfficial
09 Feb 2022, 13:38Dear Lungile
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to learn of your unhappiness with the policy you have taken.
It is not a Metropolitan term and condition that restricts access to funds on your policy, but legislation:
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to learn of your unhappiness with the policy you have taken.
It is not a Metropolitan term and condition that restricts access to funds on your policy, but legislation:
- 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 investigate the complaint and revert back to you directly.
Regards
Client Care Team
Metropolitan Life's reply09 Feb 2022, 13:38
Official
Dear Lungile
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to learn of your unhappiness with the policy you have taken.
It is not a Metropolitan term and condition that restricts access to funds on your policy, but legislation:
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to learn of your unhappiness with the policy you have taken.
It is not a Metropolitan term and condition that restricts access to funds on your policy, but legislation:
- 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 investigate the complaint and revert back to you directly.
Regards
Client Care Team
LP
Lungile P's updateReviewer Update
09 Feb 2022, 14:02the information you are providing with me now is not what i was told when they told me about my money payout. the person who was handling my policy actual fact is that he did a misrepresentation which he mislead me on how the investment work for and did not offer any other investment you guys offer.
i would state that it is an innocent misrepresentation because he did not tell me about the loan and did not even tell me that am signing a loan form.
i would state that it is an innocent misrepresentation because he did not tell me about the loan and did not even tell me that am signing a loan form.
LP
Lungile P's update09 Feb 2022, 14:02
Reviewer Update
the information you are providing with me now is not what i was told when they told me about my money payout. the person who was handling my policy actual fact is that he did a misrepresentation which he mislead me on how the investment work for and did not offer any other investment you guys offer.
i would state that it is an innocent misrepresentation because he did not tell me about the loan and did not even tell me that am signing a loan form.
i would state that it is an innocent misrepresentation because he did not tell me about the loan and did not even tell me that am signing a loan form.
Metropolitan Life's replyOfficial
14 Feb 2022, 10:17Dear Lungile
Thank you for your additional comments.
We have already referred the miss-selling and poor service allegations to the Regional Manager of the adviser in question and confirmed this to you by return email.
Our Client Care Assessor awaits the Regional Manager's report and will revert back to you directly via return email.
You are welcome to liaise directly with the Assessor.
Regards
Client Care Team
Thank you for your additional comments.
We have already referred the miss-selling and poor service allegations to the Regional Manager of the adviser in question and confirmed this to you by return email.
Our Client Care Assessor awaits the Regional Manager's report and will revert back to you directly via return email.
You are welcome to liaise directly with the Assessor.
Regards
Client Care Team
Metropolitan Life's reply14 Feb 2022, 10:17
Official
Dear Lungile
Thank you for your additional comments.
We have already referred the miss-selling and poor service allegations to the Regional Manager of the adviser in question and confirmed this to you by return email.
Our Client Care Assessor awaits the Regional Manager's report and will revert back to you directly via return email.
You are welcome to liaise directly with the Assessor.
Regards
Client Care Team
Thank you for your additional comments.
We have already referred the miss-selling and poor service allegations to the Regional Manager of the adviser in question and confirmed this to you by return email.
Our Client Care Assessor awaits the Regional Manager's report and will revert back to you directly via return email.
You are welcome to liaise directly with the Assessor.
Regards
Client Care Team