In February 2013 I signed for a life, funeral and investment policy with Xola Ndlela from Old mutual in Alberton.
I told him the amount I can afford on a monthly basis and he worked out a plan to accommodate my affordability.
To my surprise last week I received a call from old mutual call centre and I was told that my policies were in arrears and that I was no longer covered.
I was fuming and told the lady that that was really weird as I am being debited every month for my policies, and she just would not hear it and told me that she works by what her system tells her, I then decided to call their head office myself to be told that I have 2 policies almost the same amount, I said to the gentleman that I only agreed to 1 amount that I could afford and I have no idea where the other amount come from. Today I called old mutual to cancel my policies AND WANT MY MONEY BACK, and go to another financial institution that can guarantee me that I will be covered should anything happen to me.
Guess what I have to pay a cancellation fee for something that was not even my fault, an employee from Old mutual messes up and I have to pay for it. I am not paying a cancellation fee.
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