1 reviews | Active since Oct 2016

26 Jun 2019, 12:01

Old mutual withholding my payout

I have requested to with close my optimal investment policy that that has open ended policy which I was paying 385 a month.

On the first of June I went to menlyn branch and signed for policy cancellation and payout. I was told that it will take 15 days. After 2 weeks I called to make a follow up and I was shocked to be told that it has not been processed as the branch didn’t capture the forms

I then requested it to be expedited and on the I was told that payment will be done by 12pm but it was never done and on the 24th June I called again and waited more than 30minutes to get hold of consultant. They then confirmed that my payment is hold somewhere as it just need to be released.

I’m still waiting up to date.

If this is how old mutual is treating me I don’t see the point if continues any other investment with them.

It scares me that I will have the same issue when I reach retirement and I may not continue trust me with such valuable investment.

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Replies (1)
Old Mutual
Old Mutual's reply26 Jun 2019, 12:51
Official
Dear Lehlohonolo 

We received your review of 26 June 2019. 

We are sorry to hear about your service experience. We are investigating this matter and we will contact you to resolve.  

Kind regards

Coleen Aanhuizen 
Complaints Management