Old Mutual SA Reviews 

What a joke of a company.

Called them to request a quotation and was placed on hold for 20 minutes. This by the way is after the welcome message they have on their lines only cater to existing clients. Eventually spoke to someone who passed me on to someone else who passed me on to some other person who then put me back with the automated message that mentions nothing about new customers. If this is how they treat potential new customers I can't even imagine how they treat existing customers. Dodged a bullet.

I have been trying to get proof of payment for funds that I do not have access to unless I get the proof of payment and they have been dreading for the past 3 weeks

The worst service ever I have been trying to withdraw my funds since the 1st of October and still no luck and they expect you to figure it out yourself online, their portal doesn't work and nobody seems to help after numerous calls, I will not advise anyone to use them

I took a LIFE POLICY out more than 25 years ago. According to their proposed table, I paid by February 2025 an amount of R583 815.00, up to date an amount of R622 791-00 in total contributions. There was never a problem of any kind. At the moment my premium is R4872-88 per month.
Now all of a sudden, I got a letter that they reviewed my policy. According to them, it's an "OLD POLICY" and they offer me the following two options:

Nr 1. To maintain the same cover of R2,289,060-00, the premium will increase from R4872-88 to R10490-80 per month, more than 100% increase.

Nr 2. If my monthly contribution stays the same, R4872-88 per month, the REVIEWED COVER WILL REDUCE from R2,289,060-00 to R341,214-00. About 50% of my contributions over 25 years of loyal payments every month.

If a customer invests for so many years, we expect peace of mind and a well-deserved payout when we need it in your older days.

If you invest in a life policy, it will become an "OLD POLICY" sometime in future, if there is not a claim.

How can I recommend any young people to invest in policies at Old Mutual, if this is their attitude after 20/30 years of loyal customers contributions?

According to other Insurance Brokers, not one of the other Life Insurance companies treat their customers like this, or have financial problems, to make drastic changes in a company's payouts.

EVERYDAY I GET MULTIPLE CALLS FROM OLD MUTUAL TRYING TO SELL ME STUFF.
I DID NOT GIVE YOU PERMISSION TO USE MY NUMBER STOP CALLING ME PLEASE ITS REALLY ANNOYING!! WORST PART IS YOU KEEP CHANGING THE LAST 4 DIGITS SO NO MATTER HOW MANY TIMES I BLOCK THE NUMBER YOU KEEP COMING BACK

Wish I could give zero stars.
I've been struggling since March this year to get my Retirement Annuity funds transferred out. Worst service I've ever received. I'm on the verge of opening a fraud case against them; numerous escalations via Complaints Dept isn't helping at all, I'm at my wits end!

Old Mutual South Africa The worst Insurance Company . I have been trying for weeks to get hold of someone to sort out my retirement fund policy. I receive emails from various call centre agents advising me to go onto their website. The website gives error that i am not registered and when I try to register or rest my password it tells me my cell number does not exist on their database but they contacted me via my cell to make the sale for the retirement policy. When I try to update my cell it gives error. They also recommend I use their WhatsApp BOT that also gives prompt to select options that refers you back to their website. It’s a joke to get any human customer service.The only process that works at Old Mutual is their debit order process to take money out of my account every month.

Stay away! Stay far away! I am not someone that just give 1 star for no reason! We had Old Mutual Travel insurance, we had a delay for more than specified time, expenses listed, everything according to their schedule! And they literally used every excuse in the book to get themself out of the claim! They are rubbish! It has been almost 8 months later and even went to the Ombud for insurance! SCAM! SCAM! SCAM

I retired after 3 years of paying into a Superfund and made the mistake of leaving this small amount at Old Mutual because of not wanting tax deductions. I tried repeatedly with no success to get a new login code and a statement. 8 months later I received a statement from June 2024 and a comment that I cannot get one except annually. This is completely crazy and so alarming. I am a very "small" client but am being treated utterly unprofessionally!

Old Mutual has failed me.

After multiple emails and MONTHS of silence, I’ve received no response, no resolution, and no respect for a request that should otherwise be a simple and seamless process. Their disregard for basic communication and client care is deeply disappointing.

This isn’t just poor service—it’s a complete erosion of trust.

If you value transparency, accountability, and timely support, think twice before entrusting Old Mutual with your future.

I have taken a life insurance policy an the agent added a 5% annual increase which I didn't ask for, now that he has resigned my new advisor Niren who is assisted, tried several times to reverse the change but cannot do it, because it needs to be done at the head office, I have been asking them everymonth but they just seem to be arrogant, if you need life insurance tax investment just do it via your bank, it's much easier an less stressful, you can contact Niren at the old mutual branch in the phoenix plaza to confirm what I have warned people about

On 5 July I requested a copy of a simple increase letter. I received a confirmation number and despite follow up emails to their service desk and commenting on their facebook site I have been met with complete silence. As for the call centre, don't get me started...

I feel deeply disappointed by how Old Mutual has handled my claim.

I have been paying my premiums faithfully for years, believing that when I needed support the most — especially during my mental health condition — my policy would protect me. Instead, my valid claim was rejected, and I have been sent in circles with no real answers, no accountability, and no fair resolution.

What’s worse is that when I asked for my policy documents in March 2024 to review my benefits, they delayed — but now they are quick to quote the same documents to reject my claim. If I had received the right information in time, I could have adjusted my policy to fully cover my situation.

I am sharing my story here so others can see how customers are treated when they need help the most. I believe Old Mutual must be held accountable for the time, money, and peace of mind they have cost me.

I won’t be silent about this — customers deserve better!

#OldMutual #Insurance #Accountability #CustomerRights

@old mutual

Submitted a claim for my Superfund investment to be released in April 2025 as I resigned, we are now in July 2025 and this has not been completed. Emails go ignored, promises to get a call back from management are also ignored, called the call centre - and after speaking to an agent I was placed on hold and suddenly transferred back in to the queue. I honestly have never experienced a lack of service to this level.

Unprofessional,pathetic and people you don't want to deal with. I have for 33 years and multiply that by 12 that gives you 396 diligent payments without a single dishonor. My policy matured more than a month ago and I haven't received my payment yet. I am a pensioner and Old Mutual care not. I would appreciate if the director of Old Mutual see this and gives a comment or report

I'd like to give it half a star, I completed the two pot dox 79 days later.
I completed it on january 18, As of february 29 there has been no payment till date.
Everything is supermacy nor-ven-hub is adaptable and well managed. Keep it up, I'm happy here.

Poor service, Been trying to change the beneficiary on my policy since beginning of April its 17 June 2025. Till now, I call every week only to speak with a new person who I have to repeat myself and the request.

I cant claim my funds since November 2024, old mutual says my profile is mixed up with another member profile. They have not fixed this and i need to process my funds immediately but no one can help me. I keep going back and forth with emails and have to always restart the process. Does anyone care at all? I would never recommend anyone to choose Old mutual. Worst Customer Care ever

I JOINED OLD MUTUAL LAST YEAR IN JANUARY THEY PHONED ME TELLING ME MY POLICY IS NOT PAID UP I HAVE TO PAY DOUBLE ON THE 15 SINCE THEN THEY DEDUCT MONEY EVERY WEEK WITH DIFFERENT AMOUNTS