Those guys are criminals. since they came to the place where I work. our employees have known no peace. One of our employee's investement has mature, but African Alliance Company has refused to pay the guy. Complains up and down.

maasoap:


Their investors whose deposits have matured but find it difficult to withdrawal their capital and benefits don't need to be told that their money has been embezzled, stolen, diverted and mismanaged as soon as they are parted with their money.

Tinubu is the cause abi?

Engage a lawyer to write and serve their head office a Letter of Demand/Pre-Action Notice annexing a sample of what your Statement of Claims will be like. That should make them more attentive to you.

Cantonese:
Simply sue them to court.
And do not forget to include the costs already incurred by you in all forms. Please get a good lawyer and make an example of them.

Insurance companies like that make people lose interest in insurance in Nigeria.

When an insurance company is running an investment package, bro for the sake of your health and others, RUN

Owon:

They said that they're having issues blablabla.
That their former CEO made some bad investment and lost a huge amount of money.
I said okay, is that why they don't respond to people's email, pick their calls etc? The lady was just looking at me like mumu and later said that they're sorry.
What I think is that they're just being deliberately evil. Everyone I met there the day I went came for similar claim, some have been waiting for the past 3 years. These guys are still collecting some people's money actively, even though they know they won't be able to pay them when the money mature.

I told them to just please tell me exactly when I'll be paid, that I don't mind waiting till the end of the year, that I just need a specific time range and unfortunately, they can't even tell me that.
I think those criminals just need publicity. People need to know their shady activities so that more people won't fall victim. NAICOM too needs to be queried, because they're not doing their job.

.. insurance and insurance company in Nigeria is a sector that is not working the insurance sector in Nigeria is dead compared to the insurance sector in the foreign countries abroad European countries which is working effectively and better... anyone doing bussiness or anything with insurance company in Nigeria is taking a big risk for they are not reliable and trustworthy

mikkyjay:
I remember what a good friend of mine told me about insurance companies in Nigeria, when I invested 255k with AIICO.
He said it's only in insurance companies that he finally understood the meaning of, DON'T START WHAT YOU CAN'T FINISH lol.

I have forgotten about my 255k with them since.

What Policy did you take ? Do you still have your Policy Documents ?

dominique:


You need to keep going there to press them, expose them on social media if you have to. They know some investors will not aggressively go after the funds. It's the ones constantly in their faces that they will settle first. I'm just remembering my former area where one man bought a highly sought after plot of land and built a massive duplex in less than 6 months. He works for this same AA company cos he drives their branded vehicle. He goes on yearly trips outside the country with his family. Be like say dem don use your money build house and live large o.

Insurance company executives are some of the biggest frauds we have in this country and nobody is saying anything about it

That's the major reason why I wasn't interested in an insurance company.

dominique:


A lot of people would rather wait till the maturity than collecting 70% of their initial deposit. That's a terrible loss after waiting over half a decade

Will it ever mature when they're shifting the maturity years which is a red flag?

Kelklein:
First of all I don't know how this made front page.. one person having a grouse with his insurance company shouldn't really be an issue for the public.

First it has to be clear that he had channeled his complaints through the proper channels and that his money has truly matured as he said.. most people assumed that because their friend's money has matured in another insurance company then theirs too should be due.. different companies have different policies and plans. Some of these Insurenace companies communicate less with their clients..

Most people see insurance companies like a Bank, because of their savings function. The process of fund withdrawal from Insurance Company is much more conditional unlike in the bank where you walk in anytime and get your money.

Then the company too should have been up and doing in dealing with the young man.. every of your client matter no matter the approach to their complaint. It's your duty to deal with them or educate them on whatever is going on. A simple customer relation management would have dealt with this seemingly simple misunderstanding.

You have no idea of what these insurance companies have become in Nigeria. Did you read what other people with similar experience are saying here? Now, you think you know more than the investor who invested his money with them. You are a joke

I have about 240k trapped with the same insurance company as we speak. I was contributing 10k monthly for my daughter and have done about 24 months. It has been excuse since 2023 to get my funds back.

Kelklein:
First of all I don't know how this made front page.. one person having a grouse with his insurance company shouldn't really be an issue for the public.

First it has to be clear that he had channeled his complaints through the proper channels and that his money has truly matured as he said.. most people assumed that because their friend's money has matured in another insurance company then theirs too should be due..different companies have different policies and plans. Some of these Insurenace companies communicate less with their clients..

Most people see insurance companies like a Bank, because of their savings function. The process of fund withdrawal from Insurance Company is much more conditional unlike in the bank where you walk in anytime and get your money.

Then the company too should have been up and doing in dealing with the young man.. every of your client matter no matter the approach to their complaint. It's your duty to deal with them or educate them on whatever is going on. A simple customer relation management would have dealt with this seemingly simple misunderstanding.

Tareq1105:


Tinubu is the cause abi?

You looking for trouble?

Owon:

African Alliance company PLC has refused to pay me and many others their insured money, months and years after maturity.
THEY HID UNDER THE CLOAK OF ISLAM, WITH THEIR FRAUDULENT TAKAFUL SAVINGS PLAN TO DEFRAUD PEOPLE.
I have written several emails to them without a single response.
I have been to their office at Ikoyi last month to warn them and that my return won't be good...

I HAVE WRITTEN SEVERAL COMPLAINTS AND REPORT TO THE USELESS NIACOM THAT'S SUPPOSED TO BE INSURANCE COMPANY POLICE TO PUT THEM TO CHECK, BUT THE USELESS NIACOM IS NOT EVEN RESPONDING.
I THINK AFRICAN ALLIANCE INSURANCE COULD HAVE BRIBED THEM...

Please I want suggestions from people who have had similar experiences with these evil and criminal insurance companies and how they were able to retrieve their money.

please make a video of yourself begging them to give you your money, look for others in the same position like you, post the video online,tag gistlover, legit yabaleft tunde ednut and many other media company. See if they don't call you within 24hrs

Na stupid leadway pensure I dey come for when I get time.very stupid company.as a banker in 2015 I was registered with them ,I have my pin and docs. I dey email dem,whatsapp dem.they are telling me to use the phone number I used to register with dem.imagine,number wey I don lost since.i don write email and WhatsApp tire.so ,I cant acess my funds if I lost my number.leadway am coming for you guys.

AIICO made away with our money for over 6 years now.

maasoap:


You have no idea of what these insurance companies have become in Nigeria. Did you read what other people with similar experience are saying here? Now, you think you know more than the investor who invested his money with them. You are a joke

Furthermore, the fool you quoted don't know that topics like this that strengthen institutions and other topics like STEMs should be brought to the front page more often.

Willie2015:


I was in the same scenario..
I cut my loss and never invest with any insurance outfit again
Even at maturity, they can still force you to extend it..
Like the scenario explained with Mutual Benefit...
Even their regulatory body will not do anything...

that's very bad.. agreement should be agreement..the regulatory bodies should not be just ppl in that field..it should be members of the public to protect public interest..same goes for cbn too

dominique:
What did they say when you went to their office? These insurance companies are dubious. Mutual benefits extended the maturity of investors funds twice! From 5 years to 10 years! If you want to withdraw your funds, it will come with penalties and you'll be given like 70% of your initial deposit. It's like they're secretly hoping the investors die before the investment matures.

These insurance companies gave me tough time on the field. My eye see wien, especially the one mentioned above. Check insurance companies out on Google before having anything to do with them. They go about promising what they can't do several generations from now. I currently work with Custodian Life Assurance Limited and the only reason why I accepted their offer when I joined them was simply because my late father started a 25-year plan with them in 1982, he died 2005, but we didn't know about it not until a friend of his asked if we've gone to collect it in 2006. He led us to the office, we were asked to bring some documents and we got his sum assured after 72 hours in April, 2006.

USPs of Custodian Brand

1) Prompt Claim payment

2) Seasoned Management Team

3) Years of Operation.... about 65yrs ...

4) Top 3 insurance companies in Nigeria

5) One of the oldest insurance company that has stood the test of time

6) Best performing Insurance company on the Nigerian Stock Exchange (Stock Market)

7) Strong Capital Base with the Highest insurance Share Price ...

Strong Clientele base portfolio.

9) One of the Leading Annuity provider in Nigeria licensed by NAICOM.


10) The only insurance company in Africa that underwrites United Nations accounts.

11) According to Naira metrics, Custodian is the most liquid insurance company in Nigeria.

12) Custodian has the best Actuaries in Nigeria.

13) AM Best rating in Nigeria

14) Fastest growing insurance company according to NAICOM

For more info;

Call me on 0.7.0.5.8.6.2.5.5.0.6

ufotunang:
.. insurance and insurance company in Nigeria is a sector that is not working the insurance sector in Nigeria is dead compared to the insurance sector in the foreign countries abroad European countries which is working effectively and better... anyone doing bussiness or anything with insurance company in Nigeria is taking a big risk for they are not reliable and trustworthy

Try Custodian Life Assurance Limited for just a year. 0.7.0.5.8.6.2.5.5.0.6

RickyJesus:

That's the major reason why I wasn't interested in an insurance company.

Bro, you need it honestly, but with the right company.

oladipupo2234:
I have about 240k trapped with the same insurance company as we speak. I was contributing 10k monthly for my daughter and have done about 24 months. It has been excuse since 2023 to get my funds back.

It is quite unfortunate that after making sacrifice to give your daughter a beautiful future you're made to go through such stress. I'm very sorry about this. Try Custodian Life Assurance limited.

Owon:

I have done that several times.
Go to their handle @AAInsurancePLC to see how people are dragging and cursing them.
Their last post was two years ago and they don't respond to anything.

omooo those guys are bold with their robbery

dominique:
What did they say when you went to their office? These insurance companies are dubious. Mutual benefits extended the maturity of investors funds twice! From 5 years to 10 years! If you want to withdraw your funds, it will come with penalties and you'll be given like 70% of your initial deposit. It's like they're secretly hoping the investors die before the investment matures.

Dom, please tell me this is not true, because I've a 5years saving plan which is about to mature that I did for my daughter @mutual benefit...

It is suppose to mature by next year November, but I've completed mostly 90% of the money because I mostly pay ahead sometimes if I've enough change..

My friend we graduated was the one that introduced it to me and she's the account officer to my account and still works there for now, though status can change tomorrow...

Should I have anything to fear?

Ensa777:
AIICO made away with our money for over 6 years now.

@Ensa777

What Policy did you take ? Do you still have your Policy Documents ?

You can also report them to: lagos@fccpc.gov.ng.

Or visit their website - https://complaints.fccpc.gov.ng/
to file the complaint

mikkyjay:
I remember what a good friend of mine told me about insurance companies in Nigeria, when I invested 255k with AIICO.
He said it's only in insurance companies that he finally understood the meaning of, DON'T START WHAT YOU CAN'T FINISH lol.

I have forgotten about my 255k with them since.

It's impossible that I'll ever do that.
I'll rather go to jail bringing them along with me than forfeit the money?

wunmi590:


Dom, please tell me this is not true, because I've a 5years saving plan which is about to mature that I did for my daughter @mutual benefit...

It is suppose to mature by next year November, but I've completed mostly 90% of the money because I mostly pay ahead sometimes if I've enough change..

My friend we graduated was the one that introduced it to me and she's the account officer to my account and still works there for now, though status can change tomorrow...

Should I have anything to fear?

You can call your friend to confirm the status of your investment. The one we did is a lump sum fixed deposit not installments like the one you did. The different policies may come with different conditions

you go dey save for insurance, instead make u use your money chop

filani:


What Policy did you take ? Do you still have your Policy Documents ?

Takaful
5 years
I started in 2019 and it reached maturity last year December.
It's 4 months since maturity now and I still haven't been paid.

Ensa777:
AIICO made away with our money for over 6 years now.

You can get your money back if you still have your papers...

Owon:

African Alliance company PLC has refused to pay me and many others their insured money, months and years after maturity.
THEY HID UNDER THE CLOAK OF ISLAM, WITH THEIR FRAUDULENT TAKAFUL SAVINGS PLAN TO DEFRAUD PEOPLE.
I have written several emails to them without a single response.
I have been to their office at Ikoyi last month to warn them and that my return won't be good...

I HAVE WRITTEN SEVERAL COMPLAINTS AND REPORT TO THE USELESS NIACOM THAT'S SUPPOSED TO BE INSURANCE COMPANY POLICE TO PUT THEM TO CHECK, BUT THE USELESS NIACOM IS NOT EVEN RESPONDING.
I THINK AFRICAN ALLIANCE INSURANCE COULD HAVE BRIBED THEM...

Please I want suggestions from people who have had similar experiences with these evil and criminal insurance companies and how they were able to retrieve their money.

I have same experience.
I have been approaching the company for months now for the payment of my claims without success.
FG should interven to save AAI customers from undue hardship.

wunmi590:


Dom, please tell me this is not true, because I've a 5years saving plan which is about to mature that I did for my daughter @mutual benefit...

It is suppose to mature by next year November, but I've completed mostly 90% of the money because I mostly pay ahead sometimes if I've enough change..

My friend we graduated was the one that introduced it to me and she's the account officer to my account and still works there for now, though status can change tomorrow...

Should I have anything to fear?

I did a 5 years plan with mutual and I got paid after one week of maturity.
It's only this criminal African alliance that's giving me issues.

dominique:


You can call your friend to confirm the status of your investment. The one we did is a lump sum fixed deposit not installments like the one you did. The different policies may come with different conditions

Oh, thank you very much...

I've access to it, and I recieve notification alart anytime I pay into the account provided by the company, and I can also print my statements of account...

I always send her receipt of payment also, because she said she always recieve commission from every payment I made into the account, so she uses the screen shot to claim her commission at their office....