1 reviews | Active since Apr 2016
Incorrect debit of premiums
I've cancelled my insurance with OM wef the end of September 2023 yet they kept on subtracting premiums for Oct 23, Nov 23 & Dec 23 even though my broker send them the cancellation instruction in time (August 2023). On the 4th of December 2023 I realised that the OM premiums are still going off and reported it to my broker who followed it up with them again. They (OM) confirmed that the payment was approved and released. Every week following th4 4th of Dec 23, I followed up with my broker and every time the feedback was that it will be in my account within 24 hours. The amount comes to R21,871.12. Yesterday morning I followed up again with my broker who then informed me that the money will be deposited in my account by yesterday afternoon or by the morning Friday 22 Dec 2023 (today). Nothing has been deposited yet. Upon calling Old Mutual, I was informed that they are closed until the new year. This is not acceptable! They are quick to take money they're NOT entitled to but very slow to correct THEIR mistake. I needed the money for Christmas and now have to do without due to their gross negligence!
