Service Breakdown: Old Mutual Still Not Issuing Mandatory Cession Letter

I have now been waiting three weeks for the noted-interest letter from Old Mutual Life Cover. I have a home loan with Nedbank, and the attorneys cannot proceed with the registration until Old Mutual issues the confirmation of the security cession.

Between my advisor, who unfortunately has very limited product knowledge, and the Old Mutual back office with its slow turnaround times and constant red tape, the entire process has become unnecessarily painful. Clients are left frustrated and without answers. Even the complaints line is ineffective. The website does not allow you to lodge anything, and when you call, you are simply told that your address is “incorrect” and the call is ended.

How can a simple, standard document take weeks to prepare? All that is required is a confirmation that the policy has sufficient cover for the amount to be ceded. The attorneys have been holding the file for weeks because of this one outstanding document. I requested my advisor to escalate the matter, yet we are still waiting with no communication or progress.

This experience has been deeply disappointing. If this is the level of service while I am still alive, I shudder to think what will happen when my children need assistance one day. At this point, I am seriously considering moving my business elsewhere.

I need this resolved as a matter of urgency.