Desperate Help needed - Expat invested in Generali Vision Plan through DeVeres

Glen_Clark

fire0320 wrote: »

hi all,

having a dispute with Generali Vision Death benefit here.

my wife enrolled in vision back in 2002 and recently pass away.

I notified Generali ten days later of her death (say 15 Sep), and my financial adviser helped me with the forms and submitted to Generali on 25 Sep.

Generali finally payout the death benefit and i found the followings:

1. the price of fund for valuation was 25 Sep instead of 15 Sep (the date of notification);
2. there was a reduction in fund units for valuation as compared to the statement given by my financial adviser as on 25 Sep.

The terms of conditions stated:
The 'Death Benefit' is the Investment Value following our receipt of written notice of the Relevant Death ....

As such, I understood valuation should be based on 15 Sep (the date of notification), but Generali maintained that they received the doc on 25 Sep and valuation was based on this date.

They never replied about the reduction in units for valuation.

I wish to look for Terms and Conditions of Vision Plans after 2002 and see if there are any amendment with respect to the valuation date of death benefits.

Thanks

Sorry but for once that sounds OK to me.
They can only give you the price on the day they were able to sell them - i.e after they had received everything from you.

dunstonh

As such, I understood valuation should be based on 15 Sep (the date of notification), but Generali maintained that they received the doc on 25 Sep and valuation was based on this date.

The investment remains until everything is in place to settle the claim. The values will continue to go up or down in the meantime.