WB
Wandile B

1 reviews | Active since Nov 2015

02 Nov 2015, 14:17

Policy claim not paid out

Policy number ***1<br> <br> I went to an Old mutual branch this year to disinvest my policy and was advised to rather take up a loan against the policy instead of disinversting.The consultant failed to inform me that I will not longer be able to get the funds in my policy until 2018. The sole reason I opened up this polic was to be able to pay for my son's Varsity fees when he completes his matric in 2015 <br> <br> I'm now told that the policy is locked and I wont be able to . This is very unfair had I been informed of this when I went into the branch in Braamfontein I would have canceled the polity then. Old mutal was selfish in wanting to retain the polity and did not take my needs into account. <br> The worst part is that I cannot even get hold of the financail adviser who helped me take out his Policy in 2009. KE Shai is unreachable for the past week I've been trying to get hold of him. <br> This is upsetting. This is my money that I put away to be able to use it when I needed it now I must tell my son that he cant go to varsity cos the funds are locked. <br> <br> my consumer rights have been violated by the Old mutual. <br> I need someone to get back to me urgently.

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Replies (1)
Old Mutual
Old Mutual's reply02 Nov 2015, 14:51
Official
Hello Wandile.brown,

Thank you for bringing this to our attention. We will investigate and contact you directly to resolve.

Kind regards
Carol Olckers
Complaints Management