Old Mutual
ALTERNATIVE OPTIONS TO CANCELLATION OF POLICY

My husband and I have been paying for 10 years towards a Greenlight Policy for death and disability. The main reason for the policy was to ensure that our morgage was paid up if and when either or both of us died or suffered a dissability. We have switched to a new bank with a cheaper monthly installments for the morgage cover. We are asking Old Mutual to pay back our monthly installments or the montly installments excluding any administrative cost. Old Mutual says we cannot do that. I asked them can we move or change the policy over to a savings plan which my husband has from Old Mutual. Answer is no. How can we allow 10 years worth of monthly payments just going down the drain. It just tells me that Old Mutual is just there to collect money and is standing there at the end of the day with about R20, 000 - R40, 000 worth of our monthly installments and does not care or are not in any way trying to assist us so that we do not loose that money.By the way in the 10 years that we have paid we never claimed for anything not even any free services!!!

Company: Old Mutual
Country: South Africa
City: Kempton Park

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