1 reviews | Active since Apr 2011
After 10 years of loyalty and monthly instalments - they do not want to pay - they claim that I am sick or was sick
<p>I have had an old mutual policy for 10 years, i took it at the age of 24 and i was quoted over R230.00 at the time for R700 000.00 life cover, because i was told there is savings attached to it. I n 2010 i queries the premium being too high as i am a young lady and other insurance houses are offreing me something better at a lower rate. My broker made me go through series of tests to dertermine and health and fitness, everything was okay and they said the reason it is a little higher is because green light has a savings benefit and i stayed with them.</p> <p>When i bought a house in 2012 i increased it to R900 000.00 to cover the bond, my monytly premium is about R350 per month. And now 10 YEARS LATER, i want my money that i have been saving all these years and they tell me NO.. If you calculate 10 years (120 months x an averange of R300) it is more than R36000.00 tha i have paid OLD MUTUAL. And, my current broker qouted me now at age 33 for R1M cover i can pay R98.00 which i never paid when i was 24 years old. They are now saying to me that, the reason they quoted me such a high amount back then is BECAUSE I WAS SICK and they are unable to disclose the nature of my sickness.</p> <p>What sickness, i am health no deases nothing, because they ****** me, now they want to deform my name? I will not have that.. If i can get R1m at R198, then i want all the extra R150 - R200.00 that i have been paying for the past 10 - 11 years. I want my money and an apology.</p>
Thank you for bringing this matter to our attention. We will investigate and contact you directly to resolve.
Kind regards
Kareemah Sulayman
Thank you for bringing this matter to our attention. We will investigate and contact you directly to resolve.
Kind regards
Kareemah Sulayman
Good day Unathi
Thank you for the review. I refer to our conversation and my e-mail of 13 June 2016 and wish to add the following.
The savings benefit was only purchased in 2011 and cancelled in the same month that it started. The premiums received was therefore utilised to provide you with death, disability and illness cover. This is also referred to as a risk benefit. The client takes the risk of paying a premium and not claiming and Old Mutual takes the risk of paying the cover amount.
I have also sent you an e-mail with the comparison between the benefit purchased 9 years ago versus the benefit you are about to purchase now. They are not the same and therefore cannot be compared in terms of premiums payable.
I trust that this provides clarity in this regard.
Regards,
Brent Sellidon
Good day Unathi
Thank you for the review. I refer to our conversation and my e-mail of 13 June 2016 and wish to add the following.
The savings benefit was only purchased in 2011 and cancelled in the same month that it started. The premiums received was therefore utilised to provide you with death, disability and illness cover. This is also referred to as a risk benefit. The client takes the risk of paying a premium and not claiming and Old Mutual takes the risk of paying the cover amount.
I have also sent you an e-mail with the comparison between the benefit purchased 9 years ago versus the benefit you are about to purchase now. They are not the same and therefore cannot be compared in terms of premiums payable.
I trust that this provides clarity in this regard.
Regards,
Brent Sellidon