Old Mutual
Be carefull signing a policy with Old mutual

I took out a retirement annuity policy with Old mutual in 2000 -2001. I wanted to stop the policy as I have other policies in place and due to the rising interest, I cant afford it any more. My husband got a transfer down to Cape town and I will be unemployed for an unknown time. I received info back that it will cost me approximately R14 000 to stop the policy that I have paid for approximately 12 years. I did not ask them to refund my money. The plan can still run as normal eccept that it will not grow as fast as I would have if I still controbuted. I contacted the customer service number 0860 50 60 70 and held on for 34 minutes at 9 am and got no answer. Thats customer service. How can you charge me to cancel a policy that I paid for? I will spread the word and worn everybody against this. I feel that this is a. I pay every month and when I ask to stop it I get asked for more money. Have I not made it clear enough?

Company: Old Mutual
Country: South Africa
City: JHB

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