1 reviews | Active since Jan 2022
Dishonesty of Old Mutual and its Agents!
In 2019 I tried to change my Debit Order to my new Bank Account - Cape Gate Branch could not find my Retirement Policy on their System - An agent from Durbanville Old Mutual was recommended to me. Because I ciuld not get my dt order changed, my policy installment fell in arrears and I was hoping that this financial adv will be able to assist. I had a very quick meeting (hardly 5 min) where I explained my problem...he just said he will fix it and that my policy will pay out in full and told me ti sign documents, my installemrnt will now be R800 and all will be fine. I found out later that the R800 was for a different policy which I certainly did not want. I just wanted to ensure that my policy stayed valid. He should have just told me that a retirement policy will still pay out, even if I missed a few payments. My policy that matured in the 1st of September 2021 still have not paid out because the R800 policy caused it to go over the 249500 threshold (with R500) and because of a new law (which I was never told about) caused my policy not to pay out in full. Even though my 2 previous policies paid out long before and this one for just a bit over R120000. At the time of the maturing of this policy I spoke to Old Mutual agents and was told my policy will pay out in full and that they were just waiting for tax directive from SARS...I got tge info for them and emailed this to them...then I kept on asking and asking when payout will be and only got excuses and more stories. .. now it is 5 months later and still waiting for this ******* company and its agents to pay me out. In 2019 they wrote me up dor a policy that I did nor know I was signing for and never contacted me to inform me of any new laws that will effect my policies....then they **** about the fact that my policy will pay out and then this and that. I have proof of all the almist 100's of emails, whatsapps, calls, social media comments and posts where I tried to get assistance with no help at all. Because of all this, I am about ti lose my car, which will result in me losing my job and home. I am thinkung if going public with all my worse than bad experience - name and shame all those responsible and especially Old Mutual itself, who is suppose to take responsibility for their employees. I have tons of emails, whatsapp's and other proof of this bad conduct! I make sure to screenshot all my correspondance, facebook posts and text messages. If it comes to that I might even add emotiinal pain and suffering and go the legal way.
