prudential won't pay out; no common sense.

expert_first

My wife and I have an endowment policy with the Prudential that after 25 years has come to maturity. We live in South Africa and have been here four years. The policy is the second of 2, the first being paid in 2009.
The policy is a little more than 6000 pounds, it should have been paid out in mid July (13th ? ) but we did not receive any documentation in relation to the policy (this is not a problem as post is sometimes very late or more often never arrives) when we saw no money paid to our bank account, I phoned the prudential, we were then told a fax would be sent to follow up, which came and asked for some confirmation of who we were, this had to be done by post, we were a bit put out by this, but complied. This was received by the Pru on the 2nd of August, when we checked with them, they then said they did not have enough information!. my wifes proof of address is not accepted, She has nothing else to send?. But mine is accepted and it’s a joint account.
My response is, I have paid from the same account for 25 years, so pay My money back into that account (the Pru send a cheque, a very old fashioned way of working -and Banks wanted to stop Cheques being used in 2013-and of course they get a few days interest on my money)
We were paid a lot more in 2009 so why can they not cross reference that payment.
we want the cheque sent to the bank made payable to our account, that the Pru received payments from for 25 years.
On Four occasions they have not returned calls they said they would make.
On the 22nd my wife had a conversation with a lady who after consultation with a supervisor agreed that the policy would be paid, But had to refer her decision. On the 23rd I had a call to tell me the Pru was not paying without more paperwork, when I queried the change of heart, it was apparent the man who called me was phoning about an earlier enquiry and had no up to date information.
We are very upset about this, one person told my wife to get a solicitor to write a letter for us, a large cost to us and no guarantee they would accept the letter. There seems to be no common sense and no urgency to return our money. the people have been nice enough but REFUSE to pass me up the line to more senior staff, it is just answers by rote.
all I get is that the FSA has rules and their following them, I have not looked but I expect there is a rule that covers the company in the event that if it is sure of its customer, it can PAY UP! and there must surely be in-house company rules and standards of service to cover what I see as very bad service.

DVardysShadow

Time to write your own letter and ask them what their proposals are for repayment. While you mess around on the phone, everything said is immediately deniable.

holly_hobby

Why have they refused to accept your wifes proof of address/identity ?

What documentation did you provide (and which Pru have duly accepted as sufficient), that differs from what your spouse has provided ?

Holly

lolly_896

My mum has had same trouble this week have sent her a link and will let you know how she got her monies

ROY47

expert_first wrote: »

My response is, I have paid from the same account for 25 years, so pay My money back into that account (the Pru send a cheque, a very old fashioned way of working -and Banks wanted to stop Cheques being used in 2013-and of course they get a few days interest on my money)

No they don't send a cheque ,well not in my case anyway

in May of this year my 25 yr policy paid out from the pru

the letter stated that IF i din't tell them to pay elsewhere ,they automatically pay into the account that my payments came from

And into that account it went !

wife has spent most of it allready :rotfl: