Non Payment of Annuity

We have been experiencing problems getting answers from Old Mutual in an issue that a client is experiencing with her monthly annuity payments. The following is the policy holder’s summary of events surrounding her request to receive her monthly annuity payment which she has not received for most of 2021.

Policy No: *** Portfolio Reference: CCCPC***7

Policyholder Information: Full Name: Marlene Luyt SA ID: *** Date of Birth: 29/12/1947 Address: 160 Blackwater Drive Winterville NC 28590 United States of America Phone No.: ***

Beneficiary Information: Full Name: Johann Jacob Luyt SA ID: *** Date of Birth: 03/21/1947 Address: 160 Blackwater Drive Winterville NC 28590 United States of America Phone No.: ***

“For a number of years now I have received a monthly annuity from Old Mutual. The funds were paid into my bank account at First National Bank monthly almost without fail until December 2020. Before I explain the current problem that I’m experiencing, I must first mention an earlier problem just to provide some background. My sister, Sylvia Strever (who did not even share my last name), passed away in 5 November of 2018. I was her sole beneficiary. Sanlam was the executor of her estate and a policy in her name was paid out to the estate without any problem. However, in March of 2019 my spouse received a letter from Old Mutual expressing their condolences for my passing away and explaining that payments in respect of Portfolio Reference Number CCCPC***7, Policy Number *** would in future be paid directly into his bank account. At that time we were in South Africa for the finalization of my sister’s estate, and, not without difficulty, I managed to convince Old Mutual that I was very much alive, after which the arrear annuities were paid and regular payments into my account recommenced. I used to bank with First National Bank, but in April 2021, I closed my account at FNB and moved my banking activities to Mercantile Bank. I wrote to Old Mutual to change my banking details and on 30 April I got confirmation that my new account had been registered with Old Mutual. In the process of getting this done, I realized that I had not received my annuity payment every month. On analyzing my account I realized that payments were not paid on the same day each month. As a result, in some months I got two payments while in others I received no payment at all. I also realized that I had not been paid for January or February in 2021, although I did receive the annuity payments for March and April 2021. Upon enquiry on 26 May 2021, I was told that these payments were not made because my file had been referred to the “Deceased Clients” Department. It shook me to the core that I had been declared dead by Old Mutual for the second time, despite the absence of any death certificate. My family were equally shocked. On that same day I submitted a sworn Certificate of Existence together with supporting identity documentation as required by Old Mutual. To date I have not received any acknowledgement of receipt of these documents. However, on 3 June 2021 I received an e-mail from Old Mutual advising me that “According to our records all monthly incomes has (sic) been paid until the current month of May 2021.” But the payments for January and February never reached my account at FNB, and the May payment was definitely not received in my Mercantile Bank account. Since then, I have not received a single payment from Old Mutual. Going back to 2020, these are the last payments that I received: First National Bank: September 2020 Paid 1 September 2020 October 2020 Paid 29 September 2020 November 2020 Paid 2 November 2020 December 2020 Paid 30 November 2020 January 2021 No payment received February 2021 No payment received March 2021 Paid 1 March 2021 April 2021 Paid 31 March 2021 Mercantile Bank: May 2021 No payment received June to December 2021 Still No payment received

During the period 25 April to 26 May 2021, I had been in contact with Old Mutual either through e-mail or phone calls 12 times. In response, I received on 26 May 2021 from Old Mutual the private policy details of a person by the name of L K du Toit, with whom I have no connection and whom I do not know at all. Several more approaches in June 2021 led to nothing but broken promises. On 9 June I was informed that the matter had been referred to the Annuities Department. This was refuted in a call on 17 June, when I was told that my file was still in the Deceased Department (still without a Death Certificate). At that point I realized that I was not going to get the issue resolved from the USA and I approached insurance broker, Mr Francois Human, to assist me. By the end of July 2021 Mr Human had established his credentials as my representative at Old Mutual by supplying a Letter of Appointment. On 4 August Mr Human was informed that my file was with the “Deceased Clients” Department and he was informed that a Certificate of Existence was required, despite my having submitted a Certificate of Existence on 26 May 2021. No explanation was given why a second certificate was necessary – one can only presume the first one was mislaid or ignored. After a large number of further e-mails and interminable phone calls by Mr Human, he was told on 11 October that the Treasury Department were attending to the matter and payment would be made forthwith. Two months later I have received neither payment nor any explanation for the delay from Old Mutual. I find it shocking that a company of the stature of Old Mutual can be so very dysfunctional and can allow annuity payments to be withheld from the rightful recipient for a full year. It is nothing less that disgraceful and deplorable. I trust that someone at the organization will have the pride and decency to want to have this resolved on my behalf. I request that my status be returned from deceased to alive and that all outstanding annuity payments be processed and paid into my account at Mercantile Bank immediately and that future payments be recommenced”

MARLENE LUYT