MFC credit life assurance - ****

On 17th of April 2020, I got a call from a company call Direct Independent Brokers to sell me a credit life assurance for my vehicle. This policy includes retrenchment benefit.

On the document that I received, on exclusion, it states that I cannot claim within the first 3 months after signing. I got retrenched in August 2020 and I received my retrenchment notification on the 14th of August 2020. The retrenchment benefits states that should I get retrenched, MFC will pay for my vehicle installment for 6 months. I then submitted a claim to MFC and it came back declined. The reason for declining the policy was that the claim was within the 1st 3 months. I received my policy documents on the 28 of April 2020, and my retrenchment notification was on the 14th of August. When I told them that 3 months falls on the 28 of July 2020, I was told that my policy start date was on the 26 of May on my 1st premium.

I then called Direct Independent Brokers and asked when my policy start date was, and upon asking 2 different people, the answer was on the 28 of April 2020 when I accepted the policy, which is the same date on the document I received. When I told MFC about this, one of their consultants told me that on their side, the start date was on the 26 of May 2020, on my 1st premium. They told me that they don’t know why the Direct Independent Brokers would tell me otherwise. Now my issue is that the company that sold me that policy sent me documents that stated when my policy started. I should only assume that MFC appointed Direct Independent Brokers to sell this policy to their customers.

So I really do not think it should be my problem if these two companies do not communicate before they go into business with one another.