Old Mutual
Incompetent consultant

According to my knowledge (as the consultant, Tino Hector, explained to me) my investment plan is for a minimum of 10 years, after which I can cash in my invested without any cancellation fees. You also said that I can however continue with the investment plan if I do not wish to withdraw the money after the 10years. If I choose a later end date I can still withdraw my investment after the 10years without any surrender fees. I then chose my end date in 2041.

Recently I was told otherwise. I need my end date changed to end when I've completed my 10 years as this is what was explained to me.

I am extremely dissatisfied with your service as this was not my mistake but a mistake made by your consultant. I've tried to sort this out with old mutual directly but they straight out refused to assist me and even adviced me to surrender my investment.

I haven't been working for 8months yet I still pay my premuim every month, if I cancel this investment I loose over r5000 in premuims paid since november 2010. I've asked that my investment be transfered to unit trust or any other savings plan if you are not able to change the end date. If this is not possible I will be forced to cancel.

Company: Old Mutual
Country: South Africa
City: Cape Town

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