i had a policy with momentum, via my broker, which matured at the start of July 2013. i received no notification from momentum of the maturation date approaching. after checking and informing my broker of my intention to withdraw i was requested to send a 3 month bank statement, copy of my ID and a utility bill.
Firstly why do you need a 3 month bank statement when you are debiting my account every month???
secondly i sent a store account (woolworths) as i do not have a utility bill in my name. Momentum then infomed my broker that this is not suffucient for FICA. i recently applied for a home loan and my bank used my store account as FICA so why cant Momentum??? a bank gave me a home loan with my store account as FICA but momentum cannot give me my own money back??? does that even make sense!!!
i will never use momentum for any sort of investments in future.