1 reviews | Active since May 2017
Old Mutual is Bad
Due to financial challenges, I decided to cancel my life cover policy to save myself money. I was advised to send my cancelation letter to ********** of which I did. However they did not cancel my policy and when I enquired I was then advised to rather reduce my cover in order to reduce my premium to something I could afford. I took the advice and did that but to date Old mutual is still debiting me the same premium without reducing it as requested. This has been going on for 4 months now, I don’t know what to do anymore because this has inconvenienced me financially.
Hi Bahlabani
Thank you for the review. We apologise for the delay and inconvenience caused.
We have looked into the matter and find that the policy was ceded to the bank for security. We will therefore require authorisation from the bank to confirm that the cover can be reduced or that the policy can be cancelled as it is ceded to them for security.
We will therefore reduce the cover the moment we receive this from the bank.
Regards
Brent Sellidon
Old Mutual Complaints Management
Hi Bahlabani
Thank you for the review. We apologise for the delay and inconvenience caused.
We have looked into the matter and find that the policy was ceded to the bank for security. We will therefore require authorisation from the bank to confirm that the cover can be reduced or that the policy can be cancelled as it is ceded to them for security.
We will therefore reduce the cover the moment we receive this from the bank.
Regards
Brent Sellidon
Old Mutual Complaints Management