EM
Elsie M

1 reviews | Active since Jan 2023

17 Jan 2023, 12:02

BENEFICIARY POLICY CLAIMS PAID TO THE DECEASED CONTRIBUTOR BY OLD MUTUAL

Old Mutual has been the investor I held high and trusted more with my investments but not anymore. Old mutual would not even told me about other policies of which I am the beneficiary except for the one that was made known to me. Even the one I claimed, they found a loophole on the estate disagreements and demanded that a beneficiary must submit the letter of executorship which is not a requirement. After many battles, the letter was obtained but now Old Mutual claims that they paid up the policy to the deceased on the funeral day and not to the beneficiary. Old Mutual gives no other proof of how they paid since the deceased could not see or talk to Old Mutual. My understanding is that Old Mutual has the capacity to pocket my investments at any available opportunity. in fact Old Mutual can keep your millions and give you a percentage monthly but if you die in one or two months, your balance of millions is forfeited, meaning that it goes int Old Mutual's pocket.

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Replies (2)
EM
Elsie M's update17 Jan 2023, 12:53
Reviewer Update
Noted with thanks.
In the Old Mutual Claim system, first date of submission was 20/01/2021 handled by Maano Radzilani
Final date of re-submission after we obtained the letter of executorship was between 20-22 December 2022.
Final email response from Old Mutual was on 21/12/2022. Old Mutual clearly said:
"Thank you for your inquiry. The policies *** and *** were paid to me on 18/01/2021 and the other policies were paid to the respective beneficiaries and the estate T.Nemurangoni. There is no more payment due on the deceased's portfolio."

In december 2022 the two unclaimed policies reflecting on the Old Mutual system when I submitted the third claim at JHB Office.
I received no payment as the beneficiary since I did not get the letter of executorship before the children of the deceased won the case and got the executorship letter.

Regards
EM
Elsie M's update19 Jan 2023, 11:26
Reviewer Update
Dear Sir/Madam
It was noted to me by the current estate executor who called Old Mutual Group Scheme this morning that when I went to claim on the 20th of January 2021, payment was already paid into my account.
According to the current estate executor nominated by the estate beneficiaries, the person who nominated themselves the executor did open an estate account at ABSA.
All the messages from Old Mutual demanding the letter of executorship and saying that the claim would expire in March 2021 were misleading.
Based on this information, I checked my bank statement and saw the payments from Mutual that correspond with the amounts given to me as the beneficiary
However, payment was done even though I had not yet given my banking details to Old Mutual – Not sure who
This finding makes me trust that though there was a miscommunication and giving misleading information, Old Mutual will do my heart's will when I am dead.
Due to this finding, I am not removing my investments and my will from Old Mutual and believe that Old Mutual will faithfully execute my will.
Though I was misled by the contradicting messages from Old Mutual:
I DEEPLY APOLOGIZE TO OLD MUTUAL.
Thank you Hallo Peter, now I post a positive comment
Regards