Hi guys,

Please I need your help. I have been running this life assurance policy with an Insurance company for more than 40 months and going by their policy terms and conditions, I can cash out 100 percent of my investment after 3 years (36 months). On Nov. 2015 I wanted out, they started making things difficult telling me I will lose money if I cash out now as the economy is bad on them.

I insisted that they give me back my money as I really need it. Knowing how desperate I have become as it is for medical emergency, they deducted about N124,000 from my premium (of course interest accrued forfeited too). I insisted that they will pay my complete money - they said take it or leave it.

From a friend's advice, I decided to fill the discharge voucher and terminate the policy but as I write I am still battling to get them to credit my account for over 8 months now!!

The insurance account officer called me yesterday saying I should sponsor his trip to their head office in Lagos so that he can go and push for my cheque to be out soon. Make una see me see wahala o!!! Na office he wan open for my head now!

Good people of Nigeria, how do I go about this? I have sorted out the medical emergency with loan after running around like rat whose house is on fire but I still need the money to offset the loan plus interest.

Help!!!!

Dis Pipu are heartless and thieves . HAba 124k! Go to their office nd display Ur talent,I mean really Madness,They'll release Ur Money kiakia.They Hate Scene

Locate the nearest NAICOM office closest to you and make your complaint. Your money will be paid in full or they risk their license.

TruthisOut:
Hi guys,

Please I need your help. I have been running this life assurance policy with an Insurance company for more than 40 months and going by their policy terms and conditions, I can cash out 100 percent of my investment after 3 years (36 months). On Nov. 2015 I wanted out, they started making things difficult telling me I will lose money if I cash out now as the economy is bad on them.

I insisted that they give me back my money as I really need it. Knowing how desperate I have become as it is for medical emergency, they deducted about N124,000 from my premium (of course interest accrued forfeited too). I insisted that they will pay my complete money - they said take it or leave it.

From a friend's advice, I decided to fill the discharge voucher and terminate the policy but as I write I am still battling to get them to credit my account for over 8 months now!!

The insurance account officer called me yesterday saying I should sponsor his trip to their head office in Lagos so that he can go and push for my cheque to be out soon. Make una see me see wahala o!!! Na office he wan open for my head now!

Good people of Nigeria, how do I go about this? I have sorted out the medical emergency with loan after running around like rat whose house is on fire but I still need the money to offset the loan plus interest.

Help!!!!

mountlarry:
Locate the nearest NAICOM office closest to you and make your complaint. Your money will be paid in full or they risk their license.

I have complained to NAICOM and it has been a month now - no action from them. This month has made it 10 months I terminated my policy with them. How did I fall into this trap?