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Re: Cashing Out On An Insurance by akinladejo: 6:15pm On Dec 29, 2015 |
I had similar experience with UNION Assurance and IGI and am still looking for ways to handle them. Insurance company in Nigeria are thieves and fraudulent. 1 Like |
Re: Cashing Out On An Insurance by ephi123(f): 6:34pm On Dec 29, 2015 |
Chukzyfcb: Well, that's your experience and you are free to recommend them. I am speaking based on MY own experience and would NEVER EVER recommend a company that mis-sells policies and misleads their clients which is what AIICO is guilty of. |
Re: Cashing Out On An Insurance by TruthisOut: 6:40pm On Dec 29, 2015 |
Hi guys, Thanks so much for the responses. I met with my account officer today and he ended up getting me angrier. He still maintained that I will lose money if I cash out now because the market/economy is not good now - How does that affect our agreement? And that it will take at least 3 months for me to get paid!!! I am just concerned about letting go of the original documents to them. Will photocopies suffice as proof in case tomorrow they start speaking from both sides of their mouth? A colleague in my office told me that he has been trying to cash out for the past 6 months from the same insurance company. I hope I have not entered "one chance". It hurts as I have been a good lad in payment of my premium. |
Re: Cashing Out On An Insurance by Nobody: 6:54pm On Dec 29, 2015 |
I had other means to get the money at the time. I just felt since I had money somewhere, I could easily get it. When I couldn't, I Sourced from my other alternative. Thanks for d piece though anonimi: 1 Like |
Re: Cashing Out On An Insurance by Nobody: 6:58pm On Dec 29, 2015 |
Yh Ure right. Buh truth be told. It wasn't stated that a ridiculous percentage wl be charged if I needed to withdraw before a year. Buh I felt it wasnt worth arguing over. That's why I just left my cash there to cool. I'll withdraw 90% after a year and d remaining ten percent after three yrs Rockstar07: |
Re: Cashing Out On An Insurance by BUSHHUNTER: 7:29pm On Dec 29, 2015 |
DelTel: Thanks I will check on them very soon |
Re: Cashing Out On An Insurance by poposki33: 7:39pm On Dec 29, 2015 |
1 thing is that you need the policy certificate to claim your investment but most insurance companies won't tell you to keep it so if you have it, you should take them to any extent but contrary to that, your investment is gone |
Re: Cashing Out On An Insurance by Nobody: 8:10pm On Dec 29, 2015 |
Hahahaha I'm so sorry but I couldn't help but laugh..no you wont Lionhearted: |
Re: Cashing Out On An Insurance by Nobody: 8:14pm On Dec 29, 2015 |
State your grievances with union assurance..I could help you out akinladejo: |
Re: Cashing Out On An Insurance by Nobody: 8:19pm On Dec 29, 2015 |
You are not making sense Like I tell people, always ask questions and don't mislead clients to buying policies because of commission Insurance works if you read and ask questions InvertedHammer: |
Re: Cashing Out On An Insurance by Nobody: 8:26pm On Dec 29, 2015 |
No need to wait..expose them Intrepid01: |
Re: Cashing Out On An Insurance by olaboby: 8:42pm On Dec 29, 2015 |
Before u give them the receipt and policy documents, make sure u scan the original and save it in your yahoo/computer. Also do the photocopy and keep 1 Like |
Re: Cashing Out On An Insurance by Nobody: 9:46pm On Dec 29, 2015 |
TruthisOut: If this insurance policy was contracted by an Agent .. you are in trouble.. especially if the company starts with A and ends in O.. It was a legal threat and tussle that got me to exit with my dignity and finances intact. did you actually read the contract before you signed or you signed after you made your first bulk payment |
Re: Cashing Out On An Insurance by Meelaw(m): 11:27pm On Dec 29, 2015 |
Re: Cashing Out On An Insurance by precyb(f): 4:06am On Dec 30, 2015 |
insurance is good if only we can undastnd wat it is all about.ma brother, for u to get ur pay u need to gv ur photocopies of ur reciepts n policy document.already all ur premium payment is registered in der own system.again it can take up to 1 month to 3 months to get paid cuz dey hv to verify if u r payin up to date, if u r owin an month,etc. u cashing out nw means ur interest ll be very low. as for IGI i knw dey pay.in all insurance in nigeria,dey take der tym in makin payments no 2 ways abt it.be patient brother cuz wen dt money ll cum u ll enjoy am cuz is huge n can solve issues.imagine saving money for a specific period of tym,it helps ooooo.so forget dose tellin u dt insurance in negeria is fraud. |
Re: Cashing Out On An Insurance by InvertedHammer: 5:28am On Dec 30, 2015 |
exthar87:/ I wasn't expecting it to make sense to you. If only you know what "bait and switch" means. A good number of brokers don't understand the products they are selling. They are in it for the commissions. Insurance companies have fvcked and will continue to screw people up. A safer bet is to go with a reputable company because the industry is notorious for snake oil salesmen. Cave be sedes. / 1 Like |
Re: Cashing Out On An Insurance by KAYNINI(m): 2:21pm On Dec 30, 2015 |
lagosrd: they have poor social media presence and that's the only challenge |
Re: Cashing Out On An Insurance by lagosrd: 2:46pm On Dec 30, 2015 |
KAYNINI: Don't let that bother you now. Person wey sabi person for there will tell them what is going on. Surely they will call you. Another option is the consumer protection council. We go report am 1 Like |
Re: Cashing Out On An Insurance by KAYNINI(m): 3:20pm On Dec 30, 2015 |
lagosrd: yes that's true i will probably explore that department - i have the names and details and wont mind sharing them over there |
Re: Cashing Out On An Insurance by nkoyoeyo(f): 6:50pm On Dec 30, 2015 |
Hey you, Just read your complains. Yes, you need to give them all the receipts from day 1 till date if u want your money intact. I did one with Standard Alliance myself and the best advice I got from my account officer then, was to make sure I kept the receipts because they were like paper monies. So, try to look for all your receipts, collate them and submit..also make sure you have a coloured photocopy of every document you are submitting. Don't worry, am sure they are smarter than wanting to scam or play you. The bad experience I had was that I cashed out bfor the 5year period I signed up for so, I lost a great percentage of the money..imagine I was due to get 240k, I ended up with about 172k thereabout... I couldn't even figure out what percentage fine I had paid..it was heartbreaking. Bottom line here is...get the necessary documents to them. |
Re: Cashing Out On An Insurance by dhalizm: 7:44am On Jan 01, 2016 |
[color=][/c[color=#000099][/color]olor] mimzy: This is very normal. This is because the coy would have reinsured your policy with another insurance coy using a percentage of what your total policy value would be. Paying back all your money to you before the specified date (when they would have recovered the money they used in reinsurance and made some more profit) means the coy will lose out. |
Re: Cashing Out On An Insurance by akinladejo: 3:22am On Oct 07, 2016 |
State your grievances with union assurance..I could help you outCan u please give me ur phone number so that I can contact u please. Or test me so that I can call u my number is 08034299085. Please! 1 Like |
Re: Cashing Out On An Insurance by larex321(f): 11:38am On Dec 19, 2016 |
ephi123: Yes. AIICO mislead their clients 1 Like |
Re: Cashing Out On An Insurance by larex321(f): 11:42am On Dec 19, 2016 |
That's AIICO for you. Soo annoying |
Re: Cashing Out On An Insurance by joeyarticles: 8:19am On Nov 09, 2017 |
I've be trying to get the accurate data on Policy holder in the Nigerian insurance industry, it seems data here is hard to get hold of ................. http://www.techlumy.com/policy-holder-insurance-interest-premium-payment/ |
Re: Cashing Out On An Insurance by Deempress(f): 9:19pm On Jul 06, 2019 |
Pls oo Who else has cash out Aiico imsurance done in the 90s. My parents did and just saw some of the receipts and documents.my mom aged now. Do i meet an insureance lawyer or go to their office direct or who else can recomend next step of actions. |
Re: Cashing Out On An Insurance by Deempress(f): 9:21pm On Jul 06, 2019 |
shaicollins:How do i reach you..i have so many questions |
Re: Cashing Out On An Insurance by NairalandAngel(m): 1:17pm On Jul 07, 2019 |
TruthisOut: I am aware you need to return the policy document but as for submitting all receipts, this is the first time I'm hearing that |
Re: Cashing Out On An Insurance by aged: 2:46pm On May 06, 2020 |
Standard alliance insurance company has failed to pay my claims as agreed after 5years that lapses October 2019. It’s has been one excuse and the other. All required documents submitted. The reason given for their failure to pay is that the MD absconded with large amount and so it affected their operations. Please somebody should bail me out |
Re: Cashing Out On An Insurance by DelTel(m): 12:27am On May 07, 2020 |
aged: Contact the insurance regulator NAICOM via https://www.naicom.gov.ng/index.php/support/complaints 2 Likes 1 Share |
Re: Cashing Out On An Insurance by Ukprosper: 8:28am On Oct 15, 2020 |
Here is a complete list of insurance companies in Nigeria and their coverage. Top among the list are AIICO, Leadway, AXA Mansard, Custodian and Allied, Cornerstone, etc Complete List of Insurance Companies in Nigeria |
Re: Cashing Out On An Insurance by zimakod(m): 7:12am On Jan 28, 2022 |
This is why I don't like insurance. |
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