Old mutual the insurance firm with no answers

I have 2 different annuity investment funds with Old mutual. One is paid up and the 2nd one I am still contributing towards ever month. I wanted to withdraw from my paid up annuity ONLY not to effect the other annuity that I still pay towards. I was advised by old Mutual that both annuities combind exceed the amount of R247500.00 and since the amount is combined I can only withdraw one third of the combind amount of R247500.00.

I have never asked old mutual to combine my 2 annuities. I have ask them to explain to me how they can combined to different annuity fund and insist that I can only withdraw a third as they are combined. I have contacted another insurance firm, which have listen to my story and were advised that Old Mutual is in the wrong as they cannot combind my 2 annuities if they are not invested in the same annuity fund, and that I can withdraw from only my paid up annuity fund. I am stil waiting on a response from old mutual.

Old mutual is definitely not the I surance I though they were, and I am very disappointed in the way they have treated this whole situation without listening to what I have to say and could not answer my questions properly

I will never ever refer anyone to old mutual.

I very disappointed client. GE Vermeulen