Dissatisfaction with Old Mutual

Hi

My complaint is about Old Mutual. The consultant at Old Mutual who sold me this policy informed me that I had premium waiver on my Old Mutual Greenlight policy. The lump sum disability benefit and the temporary income incapacity benefit are both benefits under the same policy. Mrs Kim de Oliviera was the consultant who sold me the policy. She is no longer in the employ of Old Mutual. She explained the policy in detail to me and emphasised that the lump sum disability benefit and the temporary income incapacity benefit are both benefits under policy number *** and they are part and parcel of the above mentioned policy and also go hand in hand with each other. As a legal professional, I did not get the impression that the consultant was lying to me. The policy document speaks for itself.

The commencement value of the lump sum disability benefit was R500000.00. Old Mutual was well aware that I have autoimmune diseases. In 2012 I took very ill and was sick for a prolonged period. The premium waiver kicked in just for the temporary income incapacity benefit and the value of the lump sum disability benefit in April 2012 was approximately 1.7 million rand at the time the benefit lapsed.To this day no explanation has been forthcoming as to why the premium waiver did not kick in despite the fact that there was a premium waiver on both benefits.

I requested an explanation from Old Mutual as to why the premium waiver did not kick in for the lump sum benefit and received explanations which made no sense whatsoever. There was a monthly premium benefit waiver which was included in the policy premium and was deducted from my account on a monthly basis.

I was then told to apply for the reinstatement of the lump sum disability benefit but Old Mutual declined my application stating that I had rheumatoid arthritis. That was a blatant lie. I do not have rheumatoid arthritis. It is one of the many autoimmune diseases but I do not have it and Old Mutual could not prove that I had rheumatoid arthritis yet they took a decision that affected me so adversely. So Old Mutual refused to reinstate the policy on the basis of a totally invalid and false claim. Their decision to do so was carefully thought out to benefit themselves to my detriment. In so doing Old Mutual has caused me severe and undue prejudice.

They are fully aware that I can no longer qualify for any insurance due to the deterioration of my health. I called Old Mutual on many occasions and each time I was dismissed and told to send a mail. All the mails I sent were a mere waste of time and effort.

Friends had recommended Old Mutual so I decided to take out the aforementioned policy. In my experience Old Mutual is not a good insurance company to deal with. What was done to me was both devious and carefully calculated with the intention of prejudicing me.

I want the lump sum disability benefit reinstated by Old Mutual at the value it would have currently been, from early 2012 to what its value would have been in February 2020. I have absolutely nothing to fall back on. The temporary income incapacity benefit is not a long term benefit. I still have this benefit.

I trust and respect the Hellopeter.com team and hope that this matter can be resolved amicably and in my favour.

Should Old Mutual not reinstate the said policy, i intend to approach the High court for relief. My medical reports will gain the sympathy of the court and Old Mutual will have to advance reasons why the premium waiver did not kick in as well as why they declined my application for reinstatement on the basis of a false reason. Old Mutual will receive much negative publicity which will impact on potential future business for themselves as well as their image in the public eye. I have been in the legal profession for 29 years and have experience in matters such as this.

It has been 8 years of stress and my health has deteriorated considerably. Old Mutual was both dishonest and devious in refusing to reinstate my lump sum disability benefit.

Thank you

Kind Regards Shan-na Padayachee ***