Social media outrage against Old Mutual
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- Опубліковано 25 сер 2024
- Insurance company Old Mutual has been at the back end of social media outrage this weekend over a customer complaint. The complainant Sebabatso Molefi alleges that Old Mutual is defying a court order to release her mother's pension. The post went viral on X, garnering over 1 million retweets and calling for a boycott of Old Mutual. Some social media users including celebrities shared their personal experiences with the service they received from the insurer. Naledi Moleo speaks to Lead Ombud for Life Insurance Division Denise Gabriels.
Tune into Newzroom Afrika DStv channel 405 for more.
I would understand if this case was an isolated incident, but the stories I read about on twitter are very concerning. If I used Old Mutual I would definitely consider cancelling. Whether its car insurance or funeral policies or life covers everyone is crying about this company. I guess we all should have taken note when that family from KZN had to bring a body of their loved one to old mutual offices for them to pay out back in 2019.
was that old mutual???? omg Hello Peter also enlightening reviews
Skelms....long ago i found out a 10 year endowment policy that i paid every single premium for 10 yrs, 550 a month, they projected a 1 million rand return, but they gave me a cheque for 180k😡😡😡..
Saying the projected amount is not guaranteed.
If i put that money just in a bank at 10% compound interest, i would have had 720K.
Endowment is not for everyone...do you know how much tax you paid?
@@tman2431 bro...even if i paid 40% tax, i would still have over 400k return in a bank fixed deposit...
Insurance brokers take your money , live off the proceeds , then give it back to with the usual" sorry, market didnt perform as well as predicted".
All a bunch of thieves they are.
I believe you. These big corporates are so brazenly corrupt now.
trying to cover up@@tman2431
YIP
The lady from the obudsman either can't be bothered with these stories or has absolutely no gusto in life nje generally ngoba what did she actually help with ngempela?!?!?
true, she was hopeless..
uyinja lomfazi she is part of the problem period am soooooo annoyed by this story...our people keep on being screwed...ombads is useless as usual
Bingo
I thought it was just me who felt that. He energy levels are 0 nje.
This woman could have at least familiarised herself with the case. This was the world's least enlightening interview
she is useless and shady
@DumaM-ir7rk whaaaaaat? I thought they were literally our last safe guard 😭 this is why we can't have nice things. I just got another grey hair
You right, shes giving us absolutely nothing... not surprised though... white people always protect each other
Your guest is not very helpful
Agreed
After that incident of a family taking a deceased body to their offices, I decided to never deal with Old Mutual again. For a family to do that just to get a response was a red flag for me. Is Insurance worth it?
Black people should get to know the law and their rights and exercise them. Banks and Insurance companies are taking many black people for ride here in South Africa!
Us whites too, I assure you! I hate it that lawyers are so expensive!! is justice only for the rich??
They stealing my inherited house.
@@expose_massive_banking_crime😂😂yes I am sure this is not racial...
@@expose_massive_banking_crime Well, things are really worse than we think if that's the case.
@@blessingndlovu9037 I see "de-banking" is a thing now...very weird times
this fairness rules needs to applied to our policticians for lack of service delivery as well
Of course all insurers will try and get out of paying out, that's how they operate.
so its fair?
@@expose_massive_banking_crime no but those are the facts, all insurances dodgy. I claimed on my household insurance and was basically offered a bribe to accept a cash pay out.
FNB is next
😂,Thought people were happy with those ones.
This is so true. I've worked for Old Mutual for 5 and half years. And I got so depressed because of the treatment I received from the sales manager. I got claw backs for people who decided to leave OLD MUTUAL. I haven't worked for them in about 2 years but I'm still getting statements about owing them. But what about the client that are still on book. Where is that commission going because they not paying for those clients. I had a client that also was paid for funeral policy on time. But becaus3 of my services to her. She stayed. That compnay is ungrateful to its employees and the people
Well this interview was VERY helpful. And the lady was so interested and knowledgeable🙄. Please bring her into studio next time, we just want to see something.
Lol, she was rumbling.
THEY ARE NOW A SCAM MANY PEOPLE ARE CRYING ABOUT THEM .
Absa "free" wills too!!
Sanlam is refusing to pay for my late son who passed on in 1993. They always said that they waiting for death certificate which was submitted to this date they are not willing to pay. This people are just crooks, I wrote a letter to the then ceo, only received an email saying they fevered the matter to the company ombuds will hear from to date nothing has happened.
my MIBCO provident fund has not been paid out. 5 years now. They shout at you when you phone. no accountability.
Redo the process again n have Pape trail again.1993 consultants may have long time retired so accountability will be less to none.start again n get people names keep emails calls or any form of communication so when u ho to ombudsman you have paper trail again
absa trust is stealing my inheritance in the exact same way right now. CEO is an Afrikaner, Mr Vanya Terblanche
@@magagulapebetse9805 bs she will only be providing all her sensitive documents to another crook
Just wait til you try get your inheritance out of Absa Trust (trust??)
What did this woman says that meant anything? Either she can't tell, can't say much on anything but sounds to side too much with the companies. Useless
People need to be financially educated and not just jump on the bandwagon when something blows up on social media. There are processes these insurance companies follow in order to pay out a claim and if some things aren’t in place, it could cause a delay. I’m not sure about the persons case but for instance, if the person is claiming a deceased estate, in this case a pension fund due to some family member passing, then the organisation need to check whether there’s a beneficiary in place in her pension fund when she took it out. And whether there’s a will. Some of these things take a long time. Our courts aren’t the most reliable in this country, the judges sometimes make judgement with very poor understanding of the law governing these financial products.
With that 12% thing, I agree with Denise. If you cover a car for R300,000 and there was an accident that happend and the side door is damaged, they not going to pay out the full R300,000. They will pay out just enough to cover fixing the door.
People need to be financially educated before making these claims
trying to cover yr a$$es
I feel it's easier said than done. People who sell you insurance and policies tell you all the things that will assure you that you are making the right decision and choosing the right option only for you to deep dive into something that might never pay you out because of all the terms and conditions involved.
Yes , people should read and understand what they are signing up for , which can be very difficult at times, and yes people should have a bit of financial knowledge for that product , but the truth is if everyone was to be financially educated and understand everything (in it's entirety) that comes with these products , then fewer people would be signing up for these .
You can blame people all you want , for not being financially educated , but that is the reason why these insurance companies are still in business , people's lack of ability to understand how it works. Also Insurance is a business , so you will still find cases where someone was well aware of the policy they are getting into and everything that has to happen for the payout to happen , but still not get paid.
@@KD-us9jm no its total legal immunity at play.
The white media tried to ignore this outrage
theres "white media"? is it english or afrikaans?
She’s an Agent this one. She has zero care about any of the peoples complaints and sounds media trained. She basically said nothing of value. Mxm
Old Mutual is captured by one man.Trevor Manuel.Congratulation to him.
And his wife, at Standard Chartered.
@DumaM-ir7rk You can ask?Whom is benefitting?
@DumaM-ir7rk exactly! even FISA the fiduciary watchdog is TOOTHLESS!! absa lets just anyone deal with your late estate
Thrives, I had a life insurance with them, with a surrender value, when I lost my job after 10years payment, I received not a cent.
What is a surrender value?
I'm so sorry about this
Very important to shut up if you dont have anything to say. Old Mutual been taking advantage mxm
I paid a policy for 5 years with no missed payments only for them to not deduct the premium for 2 months when I reached out to them they said my policy is fine and a month later nothing happened and I went into the branch for them to revive my green light policy only to get ripped off by one of the financial advisors that opened a new policy under my name without my consent and forged my signature. To cut the long story short I was at old mutual every Friday to sort out my policy and they failed until it lapsed and I lodged a complaint only for them to say that they can't do anything about it...after paying almost 700 from 2019 when I got my first job... it's a lot and emotionally draining and I have a sickly grandmother that was covered by that policy but now all that money went down the drain
This greenlight policy is a scam, now it is discontinued and we can't migrate to available policies....yooh
If you were not isifebe somfazi sleeping with peoples husbands, karma wouldn’t be dealing with you.
I also have a problem with Old mutual
I think most of these companies are the same. I have 2 of them that never treated me right I never received my savings
Underwhelming response
They are the biggest " one of the biggest " .
I don't know why people are still using old mutual's services.... its absolute trash.... and their service sucks🚮🚮🚮🚮
This Ombud lady has taken this issue no where
Old mutual gave me 3000 funeral payout for a cover of 14 years.
Shocking! My mom's cremation cost R16k in 2020
My investment is not enough money i even asked for a loan but they refused.Im 65yrs cannot get a loan anywhere.i dont work i need my investment to be paid out it was a income provider for 31yrs ago.But i just receive the same amount every month.And i was bullied into that investment by a financial advisor.He never told me i wont be able to get a cash withdrawal.from that policy .
This lady contributed nothing to this engagement,🚮
Tweet at the CEO
Claims are only the surface of the problem. I think the problem is bigger. I believe insurance cover and premiums have a significant element of race based discrimination.
Fairness insurer wow 🤣🤣🤣🤣
This woman was so useless! I got nothing from her....all she said was "I can't comment on that, I don't know for sure"..aaarg!
News readers , today here tomorrow there 😅
Looking g for growth, better working condition and better pay;
What a pointless interview. Your guest could've just as well declined the invitation
Is there any white person complaining ???
yes!! look on Hello Peter. absa is stealing our inheritance. afrikaans CEO...