1 reviews | Active since Jun 2016
Old Mutual taking forever to release payment investment and poor customer service
4 weeks ago my aunt submitted a claim at Old Mutual Cape Town and they confirmed everything was fine and she should expect a payment within days, the 10 days passed with no payment. I made a follow-up with them only to find out there was one document that was not signed and they didn't even bother to call us.
To fast forward this, Thursday I received an email read as follows "Your claim journey is complete we are pleased to inform you that payment has been made. Please expect proof of payment within the next 2 working days" and that was on Thursday (21/04/2022) and till to date there was no payment made when I do a follow up with them I was told that they waiting on share price, they need to sell my late uncle's share price first.
My aunt needs to be in EC for her cleansing ceremony and it must be done before winter according to our culture. I'm very disappointed with Old Mutual and when I invested money for my I thought I was making a wiser decision on his behalf. I regret the day I told him to invest at Old Mutual. I will advise anyone not to invest with those insurance companies rather invest with investment companies.
Bad decision I ever made and last month I took educational plan for my kids but I'm canceling it. I will no longer continue with the plan, imagine going through this while you need money.
