BEWARE! FINANCIAL INSTITUTIONS - EVEN THE BEST CAN LET YOU DOWN!

In 2012 I purchased a Reversionary Bonus Policy for my daughter. I knew this was a good investment, having had such policy myself and, as a mother, I was trying to give her some future financial security. The period of investment was 5 years - at which time this money would have almost doubled in value. So when the policy matured in 2017, we gave Old Mutual instructions through our Broker, to reinvest the whole amount for a further 5 years - or so we thought! At the beginning of October this year, an agent from Old Mutual contacted us to find out what we wanted to do with the money as it was now in a Flexi account, earning barely a 2% interest under "UNCLAIMED BENEFITS". We had no idea of what was happening so we contacted our Broker and, to make a long story short, it transpired that Old Mutual had ignored our e-mail dated 28/9/2017 to reinvest the money and took it upon themselves to remove the funds from a Reversionary Bonus Policy to a Flexi account. Needless to say, we suffered a MASSIVE FINANCIAL LOSS. I contacted Old Mutual twice by e-mail (23/10/2021 and 2/11/2021) to offer an explanation of their negligence but they are choosing to ignore my messages. This cannot be swept under the carpet and forgotten. In my opinion, they should at least offer some form of compensation.