OLD MUTUAL SAGA: Consumers rights regarding insurance contracts.
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GUEST – Vuyolwethu Skolo - Case Assessment Manager in the Life Division
of the National Financial Ombud Scheme
Insurance and financial institution Old Mutual has been facing a public relations nightmare after a user’s post on social media
sparked outrage over the company allegedly defying a court order. Case Assessment Manager in the Life Division of the National Financial Ombud Scheme, Vuyo Skolo unpacks the consumer rights regarding insurance contracts which include:
Receive clear and accurate information about insurance products.
Be provided with all policy details, including coverage, exclusions, and premiums.
Utilise a 31-day cooling-off period to cancel the policy without penalties.
Refer disputes to the Ombudsman for Long-Term Insurance or Short-Term Insurance Ombudsman if not resolved by the
company.
Receive entitled benefits even if the product is withdrawn from the market later.
of the National Financial Ombud Scheme
Insurance and financial institution Old Mutual has been facing a public relations nightmare after a user’s post on social media
sparked outrage over the company allegedly defying a court order. Case Assessment Manager in the Life Division of the National Financial Ombud Scheme, Vuyo Skolo unpacks the consumer rights regarding insurance contracts which include:
Receive clear and accurate information about insurance products.
Be provided with all policy details, including coverage, exclusions, and premiums.
Utilise a 31-day cooling-off period to cancel the policy without penalties.
Refer disputes to the Ombudsman for Long-Term Insurance or Short-Term Insurance Ombudsman if not resolved by the
company.
Receive entitled benefits even if the product is withdrawn from the market later.
