AM
Abongile M

1 reviews | Active since Nov 2014

24 Dec 2017, 11:02

Important information was not disclosed before signing the contract

I went to old mutual to open a 2 in 1 investment account. The consultant told us that the policy would grow between 4% to 13%. She basically didn't tell us that the policy would take 50% from our investment in the first year, and so on throughout the years. She was not fully transparent with us about the most important information. I was told that I was going to receive a contract which was never delivered. I went to the branch (a different one) after several months only to find that my contact details were incorrect (and I know I registered the correct information) hence I never received the contract. Then the consultant told us how the policy works, and that is when I found out about all these deductions and policy fees. The initial consultant was *********** and did not disclose all the information she was supposed to.

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Replies (2)
Old Mutual
Old Mutual's reply24 Dec 2017, 11:21
Official

Dear Abongile

Thank you for the review.

We apologise for the inconvenience this has caused you.

We will investigate and resolve the matter with you directly.

Regards

Brent Sellidon

Complaints Assessor

Old Mutual
Old Mutual's reply30 Jan 2018, 13:18
Official

Dear Abongile

Thank you or allowing us the opportunity to resolve this matter with you. We apologise again for the frustration that this has caused you.

Regards,

Brent Sellidon

Old Mutual Complaints Management