Old Mutual
RIP OFF

I took out an education policy in 2007 the first year i was charged 68.50% in fees however my bonus was 15% since then each year they charge me 15.60% in fees plus another R6.90 per month again the bonus averaging 5% i am losing each year approx10% of my money. Old Mutual inform me this is correct its how they do business. However when i called a phone line the other day and asked what are your charges for education plan i was informed 3, 25%. What i am trying to say is you are my money and Old Mutual informs me this is how it is for the first couple of years i thought couple of yrs was 2. My advise never take a policy with OM.

Company: Old Mutual
Country: South Africa
City: Head office

  <     >