PICFriends Provident Premium Policy

1 Review updated:

PIC DEVERE ( Fraud Company) I lost $16000/- with this company when I closed the policy as I lost my trust in this company.

Initially, when I was sold the product, I wasn't given the policy and the brochure till after 15 months. Then, I had to go to Friend's Provident, Dubai office where they gave me the actual policy. I argued with Mr. Andrew Piggot representative of PIC DEVERE financial advisory, who came to my apartment and said that he lost the policy in his office. So he wanted me to get some documents notarised to get a duplicate copy of the policy. He didn't do this, finally I spent my own money to go to Dubai, took the initiative and got my original policy from your Dubai office.

What I am saying is that I was never given details on what the policy entails and what happens to my money if I surrender the policy before the 18 year tenure. Mr. Andrew Piggot kept telling me that I could take a holiday premium and all. I do want the rest of my money back as I do need it and I never understood how this policy works when it was sold to me. If I did understand it, I would not have invested in this as its not my idea of an investment. I strongly believe that the policy was intentionally missold to me.

And Friends' Provident hasn't lost any money on my investment, so why should they keep the money. Surely, they can make an exception and waive the penalty, it just has to be authorized by a higher authority. Mr. Andrew Piggot said that he had a meeting with his senior managers in Dubai and they came to a conclusion on who would pay the penalty amount, Friend's Provident or Devere Group or it can be shared by both groups. But don't make me the scape goat and steal from me. I don't want any interest amount due from the policy, I just want my principal amount invested back. If I left the money in the bank, it wouldn't earn interest, but it would have all come back to me.

I already approached the Ombudsman in the Isle of Man but they say that PIC Devere Group does not operate there so they cannot do anything.

As already stated in my previous emails, I need the money to pay ongoing costs for my medical bills, if you want I can ask the doctor to send the reports to your companies, so that you know that I am telling the truth.

Jun 25, 2016

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  • Jo
      Jul 20, 2019

    I complained about Friends provident International excessive charges on their PREM7 scam, in my case in the region of 8% plus. The said that they 'investigated'. That's [censored]. I asked them many times to quantify their 8%+ charges . They have ignored that instead preferring to talk about surrender values which I have no issue with as I know early redemption means they keep most of my money.

    I believe I can make a criminal case against them for fraud. Anyone that wants an update on this can email me on [protected]

    Many people are saying that the lying scamming government of Donald Trump are continually asking if anyone from FPI wants a job.

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