Myraid policy dissapointment

The extent momentum is going to to cut the discounts they initially sold myraid products is shocking , to the point they don't even know how it is working. Poor people in the call centres have been thrown under the bus. Anyone thinking of taking out a myraid policy please read carefully. They should be reported to the regulator with their latest long term premium stunt. Please se below email which they will likely not honour in any case

Dear Mr B

Reference: Myriad-Multiply discount de-linking

I sincerely apologise for the delayed confirmation email as discussed telephonically on 14 September 2023.

The reason for the delayed communication is because I was awaiting clarification from our Subject Matter expert regarding your enquiry.

I can confirm that the information provided telephonically was not entirely correct, I do apologise for this.

Please note that as per the official communication previously sent to you regarding the Multiply transition, on 1 January 2023 your Multiply discount will no longer be linked to you Myriad policy.

Effective from 1 January 2023 your current Multiply discount of 60% will reduce to by 5%. Each year subsequent to that your Multiply discount will reduce by 2.5% until you have reached your long term protected discount of 40% (Maximum).

Please let us know should you have any further questions.

Please contact us on weekdays from 07:00 to 19:00 for further information. You can also visit us at www.momentum.co.za to update your details, view your contract information and find other useful tools to help you with your financial planning.

Web www.momentum.co.za ShareCall number 0860 MYRIAD (69 74 23) Tollfree fax number ***Email address ***

Kind regards

Siphesihle Bengu Momentum