Dear Nairalanders....Please help.

I did an investment of N700k over a period from 2013-2014 with Mutual Benefit Life Assurance. I did not continue premium payment due to challenges. Yesterday i went to call for my funds and i was told to my chagrin that i would be charged N192.5k(27.5%) as pre-termination charges. This is being taken from my principal investment;no interest would be paid because the tenor (of five years is still in the future).

For three years, NO INTEREST and my principal is being charged?!! This is Neo Robbery. The Insurance surely did not leave this money in a bank vault, but invested my money in profitable ventures. Why would I not be entitled to Interest; why must my hard earned Principal be charged.

This is a classical case of a Corporate Body stealing from unsuspecting citizens. No where in the Insurance Policy is the pre-termination rate stated.

I need Nigerians to know this is happening. I am yet to be paid and upon receipt of my discharge form, I intend to seek redress in court. This is WICKEDNESS to say the least. Caveat Emptor!!!!!