Old Mutual strikes again ………….

Should you be wanting life insurance think twice before considering Old Mutual. I took out two life insurance policies in 2008 paying monthly without fail until my bank account was compromised in December 2023 and frozen resulting in both contributions being returned unpaid. Policies I have with Discovery, Hollard and Sanlam were also affected but all of these companies made contact within 3 days and provided alternative means to pay the returned contributions. I received no communication from Old Mutual – I asked my broker to intervene but had to work through an agency as Old Mutual no longer work with individual brokers! After many telephone calls my broker managed to get them to agree to reinstate one of the policies provided I had a repeat medical examination at my cost and submitted the required form, which I reluctantly did. The policy was reinstated after the arrears had been paid. My broker enquired why only one of the policies had been reinstated he was informed that they would consider reinstating the second policy provided I had a full medical again, despite me having submitted the required medical a few weeks previously for the first policy. Old Mutual’s only response was that should I not submit a new medical the policy would remain cancelled. I was not prepared to pay for another medical, as I am a pensioner with limited income, much of which goes to paying my medical aid and policies. I was then sent a letter by Old Mutual informing me that the policy was cancelled. 16 years of contributions were ****** from me with nothing to show for it!! If Old Mutual had any conscience they would correct their inefficiency and restore my policy or repay me my 16 years of contributions. I would recommend anyone considering Old Mutual as an insurer, to take their promises and commitments, with a pinch of salt.