AfricaComplaints.com » Business & Finance » Complaint / review: Momentum - Efusal by momentum to pay for investment | #89295

Momentum
Efusal by momentum to pay for investment

My mom took an investment policy with southern life and was told the policy would mature in 2013. the premiums were deducted until 1999 when she retired. she missed payments for 2 months while she was not receiving her salary. she received a letter from them advising that her policy has been cancelled because of the two premiums not received. she was then advised that if she could deposit the arrear premiums into their account the policy would be reinstated. she has been depositing her premiums into their fnb account. she received a letter some time ago that the company had been ceded to momentum but was assured that her policy would not be negatively affected. to her surprise when she called at their offices in westville she was advised that the policy was cancelled in 1999 and further that the policy was a funeral policy. she asked them how come she was advised that the policy would mature in 2013 if it was a funeral policy. they then said they want proof of all the premiums paid since the inception of the policy and would pay her a surrender value. why did they accept the premiums for all these years if the policy was cancelled? where will she get proof of all payments made?
(Supplier name changed from Momentum Short-Term Insurance to Momentum by Hellopeter.com)

Date:

Company: Momentum

Country: South Africa   City: MULTIPLY

Category: Business & Finance

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