Liberty Life
Unauthorised Deductions

My endowment policy (56152821500) with Liberty Life matured on 30/06/2013. I received a letter by e mail on 14/06/2013 confirming a change to automatic premium increase details to which I immediately responded by contacting the call centre and advising them that I would be cashing the policy and therefore had no need for adjustments to premiums. In response I was sent the relevant forms which I duly completed and received a lump sum payout at the of June. When I looked at my bank statement at the beginning of July I noticed a premium deduction for R 707.39. I immediately contacted the Call center again who confirmed that the policy had matured and been paid out. I requested immediate reversal of the payment and cancellation of any further debits and followed this up with a mail to [Email Removed] reinforcing my instruction. To date I have had no response except an automatic reply advising me that my query will be dealt with in 5 days. I feel that the deduction of a premium after a policy has matured and been cancelled constitutes and illegal access to my bank account.

Company: Liberty Life
Country: South Africa
City: Johannesburg

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