TM
Thandi M
1 reviews | Active since Nov 2021
17 Apr 2023, 10:19
You guys are wicked!!!
Rather save up your money under your mattress than to put your faith in Metropolitan. What a **** 🚮 imagine paying money monthly so your children can be covered when you die only for the board to decide that No we’re not paying them.
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Replies (2)
Metropolitan Life's replyOfficial
17 Apr 2023, 11:38Dear Thandi
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to read of your parent's passing. Our thoughts and prayers remain with you and your family during this sad time of loss.
Please be advised that a Retirement Annuity is not a life cover policy, or a policy where the owner insures their relatives lives, but a policy where the policy owner saves up for their retirement.
Therefore a Retirement Annuity falls under the provisions of the Pension Funds Act and Income Tax Act.
As such, if the policy owner/insured life passes away prior to the planned maturity date, these Acts task Metropolitan with a duty to ensure that death claim proceeds are distributed to the legal and financial dependents, after Tax (if applicable) is paid over to SARS..
We rigorously assess the claim based on each potential legal and financial dependent's level of dependency (if any) on the late insured person. The Board of Trustees then takes all the information assessed into account when deciding whom and in what proportion to allocate the proceeds to the qualifying legal or financial dependent/s.
We trust that the above clarifies your understanding around the allocation of proceeds in terms of Retirement Annuity death claims.
Regards
Client Care Team
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to read of your parent's passing. Our thoughts and prayers remain with you and your family during this sad time of loss.
Please be advised that a Retirement Annuity is not a life cover policy, or a policy where the owner insures their relatives lives, but a policy where the policy owner saves up for their retirement.
Therefore a Retirement Annuity falls under the provisions of the Pension Funds Act and Income Tax Act.
As such, if the policy owner/insured life passes away prior to the planned maturity date, these Acts task Metropolitan with a duty to ensure that death claim proceeds are distributed to the legal and financial dependents, after Tax (if applicable) is paid over to SARS..
We rigorously assess the claim based on each potential legal and financial dependent's level of dependency (if any) on the late insured person. The Board of Trustees then takes all the information assessed into account when deciding whom and in what proportion to allocate the proceeds to the qualifying legal or financial dependent/s.
We trust that the above clarifies your understanding around the allocation of proceeds in terms of Retirement Annuity death claims.
Regards
Client Care Team
Metropolitan Life's reply17 Apr 2023, 11:38
Official
Dear Thandi
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to read of your parent's passing. Our thoughts and prayers remain with you and your family during this sad time of loss.
Please be advised that a Retirement Annuity is not a life cover policy, or a policy where the owner insures their relatives lives, but a policy where the policy owner saves up for their retirement.
Therefore a Retirement Annuity falls under the provisions of the Pension Funds Act and Income Tax Act.
As such, if the policy owner/insured life passes away prior to the planned maturity date, these Acts task Metropolitan with a duty to ensure that death claim proceeds are distributed to the legal and financial dependents, after Tax (if applicable) is paid over to SARS..
We rigorously assess the claim based on each potential legal and financial dependent's level of dependency (if any) on the late insured person. The Board of Trustees then takes all the information assessed into account when deciding whom and in what proportion to allocate the proceeds to the qualifying legal or financial dependent/s.
We trust that the above clarifies your understanding around the allocation of proceeds in terms of Retirement Annuity death claims.
Regards
Client Care Team
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to read of your parent's passing. Our thoughts and prayers remain with you and your family during this sad time of loss.
Please be advised that a Retirement Annuity is not a life cover policy, or a policy where the owner insures their relatives lives, but a policy where the policy owner saves up for their retirement.
Therefore a Retirement Annuity falls under the provisions of the Pension Funds Act and Income Tax Act.
As such, if the policy owner/insured life passes away prior to the planned maturity date, these Acts task Metropolitan with a duty to ensure that death claim proceeds are distributed to the legal and financial dependents, after Tax (if applicable) is paid over to SARS..
We rigorously assess the claim based on each potential legal and financial dependent's level of dependency (if any) on the late insured person. The Board of Trustees then takes all the information assessed into account when deciding whom and in what proportion to allocate the proceeds to the qualifying legal or financial dependent/s.
We trust that the above clarifies your understanding around the allocation of proceeds in terms of Retirement Annuity death claims.
Regards
Client Care Team
Metropolitan Life's replyOfficial
17 Apr 2023, 11:41Dear Thandi
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to read of your parent's passing. Our thoughts and prayers remain with you and your family during this sad time of loss.
Please be advised that a Retirement Annuity is not a life cover policy, or a policy where the owner insures their relatives lives, but a policy where the policy owner saves up for their retirement.
Therefore a Retirment Annuity falls under the provisions of teh Pension Funds Act and Income Tax Act.
As such, if the policy owner/insured life passes away prior to the planned maturity date, these Acts task Metropolitan with a duty to ensure that death claim proceeds are distributed to the legal and financial dependents, after Tax (if applicable) is paid over to SARS..
We rigorously assess the claim based on each potential legal and financial dependent's level of dependency (if any) on the late insured person. The Board of Trustees then takes all the information assessed into accountwhen deciding whom and in what preportion to allocate the proceeds to the qualifying legal or financial dependent/s.
We trust that the above clarifies your understanding around the allocation of proceeds in terms of Retirement Annuity death claims.
Regards
Client Care Team
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to read of your parent's passing. Our thoughts and prayers remain with you and your family during this sad time of loss.
Please be advised that a Retirement Annuity is not a life cover policy, or a policy where the owner insures their relatives lives, but a policy where the policy owner saves up for their retirement.
Therefore a Retirment Annuity falls under the provisions of teh Pension Funds Act and Income Tax Act.
As such, if the policy owner/insured life passes away prior to the planned maturity date, these Acts task Metropolitan with a duty to ensure that death claim proceeds are distributed to the legal and financial dependents, after Tax (if applicable) is paid over to SARS..
We rigorously assess the claim based on each potential legal and financial dependent's level of dependency (if any) on the late insured person. The Board of Trustees then takes all the information assessed into accountwhen deciding whom and in what preportion to allocate the proceeds to the qualifying legal or financial dependent/s.
We trust that the above clarifies your understanding around the allocation of proceeds in terms of Retirement Annuity death claims.
Regards
Client Care Team
Metropolitan Life's reply17 Apr 2023, 11:41
Official
Dear Thandi
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to read of your parent's passing. Our thoughts and prayers remain with you and your family during this sad time of loss.
Please be advised that a Retirement Annuity is not a life cover policy, or a policy where the owner insures their relatives lives, but a policy where the policy owner saves up for their retirement.
Therefore a Retirment Annuity falls under the provisions of teh Pension Funds Act and Income Tax Act.
As such, if the policy owner/insured life passes away prior to the planned maturity date, these Acts task Metropolitan with a duty to ensure that death claim proceeds are distributed to the legal and financial dependents, after Tax (if applicable) is paid over to SARS..
We rigorously assess the claim based on each potential legal and financial dependent's level of dependency (if any) on the late insured person. The Board of Trustees then takes all the information assessed into accountwhen deciding whom and in what preportion to allocate the proceeds to the qualifying legal or financial dependent/s.
We trust that the above clarifies your understanding around the allocation of proceeds in terms of Retirement Annuity death claims.
Regards
Client Care Team
We acknowledge receipt of your complaint on HelloPeter.
We are sorry to read of your parent's passing. Our thoughts and prayers remain with you and your family during this sad time of loss.
Please be advised that a Retirement Annuity is not a life cover policy, or a policy where the owner insures their relatives lives, but a policy where the policy owner saves up for their retirement.
Therefore a Retirment Annuity falls under the provisions of teh Pension Funds Act and Income Tax Act.
As such, if the policy owner/insured life passes away prior to the planned maturity date, these Acts task Metropolitan with a duty to ensure that death claim proceeds are distributed to the legal and financial dependents, after Tax (if applicable) is paid over to SARS..
We rigorously assess the claim based on each potential legal and financial dependent's level of dependency (if any) on the late insured person. The Board of Trustees then takes all the information assessed into accountwhen deciding whom and in what preportion to allocate the proceeds to the qualifying legal or financial dependent/s.
We trust that the above clarifies your understanding around the allocation of proceeds in terms of Retirement Annuity death claims.
Regards
Client Care Team