Old Mutual ********** Claim

In early June 2021 I wanted to claim from a paid up Old Mutual retirement annuity policy. On 24 June 2021 my Old Mutual consultant told me that they had already paid out money from that policy to a card that does not belong to me and which I was not even aware existed, which had been claimed on 12 May 2021 by someone else. This ********** claim had been made telephonically a day prior to my birthday and using copies of my ID instead of the real document as required when claiming from Old Mutual. Old Mutual processed this ********** claim without following strict and cautious procedure.

I immediately told them that I had not received any payment and I reported the claim as **********. I then discovered that my two (2) retirement annuity policies had been combined without my consent to form a new policy number. A third (1/3) of the money had already been paid out including all my rewards to this person. I also found out later that the person had also been receiving monthly payments from the remaining amount from July to October 2021. My original policy had been closed without my consent!

My local Old Mutual branch manager sent a letter to their head office on the same day to tell them about my matter. There was no response from the head office and I kept on going back to the branch on many occasions to enquire. I was eventually told to write a letter detailing the events, which I did and sent to Old Mutual head office on 10 August 2021.

Old Mutual eventually referred the matter to Old Mutual Group Forensic Services. A forensic investigator was sent to me to get a detail of events. He did his investigation on the ********** claim documents used as well as the ones I had used when I wanted to claim. The investigator returned a second time to do an investigation on the voice recording of the call during which the ********** claim was made. I verified that the voice in the recording was not mine.

A few days after the investigation I received information from the assigned colonel at Old Mutual Group Forensic Service who told me that the matter had been finalized and that the money would be returned to Old Mutual so that it may be returned to my policy. This was never done and I was still unable to claim money from my policy. The colonel stopped taking my calls and I never received any further correspondence from anyone at Old Mutual Group Forensic Service.

I then contacted the Ombudsman for long term insurance and asked them to intervene. It is was only after this that I got correspondence from Old Mutual Group Forensic Service saying that my money had been returned to Old Mutual. Old Mutual confirmed this in an email sent to me. They then said they had referred the matter to their actuaries to determine the interest that had accumulated since my original policy was closed without my consent as well as the monthly amounts that had been paid to the *********. They were supposed to do this and revert back within a period of 10 days. The 10 days elapsed without any change or even communication from Old Mutual. I then contacted the Ombudsman again. Old Mutual then apologised and promised to contact me on the progress.

Old Mutual has never contacted me. I am the one always calling and when I do the person who receives the calls is always promising me that she will tell the person responsible to contact me. This has happened 3 times already. I am now unable to do my tax returns because the information at SARS is incorrect because of the falsified documents that were used in the ********** claim. I am in dire financial straits and I have had to create a credit card in order to pay off my son’s tertiary fees.

How did Old Mutual process a claim telephonically without requiring my original ID document at a branch? How did they process a claim on my birth month when claims are supposed to be processed AFTER your birth month? How did Old Mutual close my policy without my consent? Why did the colonel at Old Mutual Group Forensic stop taking my calls? Why did I have to contact the Ombudsman in order to hear back from Old Mutual? Why did they not revert back in 10 days like they promised? Why am I being treated this way when I am the victim? Why am I running after these guys when they have already admitted to their fault and promised that I will receive my money back?

I do not trust Old Mutual anymore and I do not wish to leave any money with them. I want to claim everything and part ways with them for good. I have since had to cancel all my other policies with them. I lost a lot of money due to this after paying monthly premiums for so long. This has been a horrible experience and I am very disappointed at the way this matter is being treated. I hope they will take note and bring my money back as soon as possible!