1 reviews | Active since Apr 2011

17 Dec 2025, 09:47

Old Mutual useless service

Many years ago when I was a young man, Old Mutual was the gold standard in insurance companies. I had a life policy, retirement annuity, and funeral policy with them. The life policy, even one of their own financial advisers told me that it was ******* and advised me to cash it in. When I did so, several years later I realised that he was correct. I drew the retirement annuity in 2015 when I retired, and the growth of this policy was extremely poor. I only discovered just recently that the funeral policy which I had understood covered both my spouse and myself would not cover my spouse if I passed away first as the policy would then cease to exist. I have been engaging with them via email and telephonically since the 24th of October to try and sort this out. All that I have managed to establish at this stage is that my discovery about the uselessness of this policy is correct. Despite Old Mutual having stated that they would have to refer to the original telephone call in 2017 when I opened this policy to verify if the misunderstanding was due to poor communication by the on-line consultant I dealt with when opening the policy To date still no answers! Sorry, Old Mutual but I will never ever have any dealings with you again and never ever recommend you to anybody!

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