OLD MUTUAL... NOT RELIABLE

MY BAD EXSPERIENCE WITH OLD MUTUAL CAN ANYONE TRUST OLD MUTUAL?

I Invest in a LIFE POLICY since the year 2000. According to their proposed table, I paid by February 2025 an amount of R583 815.00, an amount of R622 791-00 in total contributions. There was never a problem of any kind. That means my premium is R4872-88 per month, February 2025. Value coverage insured up to date R2 289 060-00.

Now all of a sudden, I got a letter from Old Mutual, that they reviewed my policy. According to them, it's an "OLD POLICY" and they offer me the following two options: Nr 1. To maintain the same coverage of R2,289,060-00, the premium will increase from R4872-88 to R10490-80 per month, more than 100% increase. Nr 2. If my monthly contribution stays the same, R4872-88 per month, the REVIEWED COVER WILL REDUCE from R2,289,060-00 to R341,214-00. About 50% of my contributions over 25 years of loyal payments every month. If a customer invests for so many years, we expect peace of mind and a well-deserved payout when we need it in your older days. If you invest in a life policy, it will become an "OLD POLICY" sometime in future, if there is not a claim. How can I recommend any young people to invest in policies at Old Mutual, if this is their attitude after 20/30 years of loyal customers contributions? According to other Insurance Brokers, not one of the other Life Insurance companies treat their customers like this, or have financial problems, to make drastic changes in a company'

If you consider a life policy, make sure what is included in your contract. If Old Mutual Have the wright to “REVIEW” the policy in future, STAY AWAY…. YOU WILL LOOSE YOUR CONTRIBUTIONS AND THE VALUE OF ALL PAYOUTS.

STAY AWAY FROM OLD MUTUAL!!!! NOT RELIABLE!!!!