MetLife / Metropolitan Life Insurance Company [MLIC] / mis-sale of life insurance

Please forward to MetLife HQ, United States

Dear Sir/Madam

Policy holder's name: Youssef Serry Mohamed Youssef Serry
Life Insurance Policy Number: [protected] (MetLife Egypt)
Policy holder's address: 13 Ahmed Nour El Deen St., Cairo, Egypt.

I would like to escalate a complaint on behalf of my father (The policy holder) who is a vulnerable 74 years old. I have attached a letter of authority for your consideration (Please note that the original LOA has been provided to MetLife Egypt).

I am escalating this complaint as the final response of MetLife Egypt stated that they haven't breached the policy agreement and they have totally ignored the mis-sale as they don't even understand what a mis-sale mean. They have also told me over the phone that they don't deal with Bullying, Harassment or Abuse and it was totally ignored in their final response too. If you see their final response you will laugh because it is really a joke. Unfortunately their response was issued in Arabic language otherwise I would have attached it. Their final response was issued on July 10, 2019 stating that my father needs to pay L.E 14, 000 by the same day (July 10, 2019), they haven't even stopped the clock while they were investing the complaint which shows that they have no idea about handling complaints.

Original complaint points:

Breaching the policy agreement.

Bullying and Harassment.

Abusing a vulnerable 74 years old man and taking advantage of his age by continuously over charging him.

Then the above complaint points were amended during MetLife Egypt phone call while investigating the complaint, to the following:

Mis-sale as the policy documents didn't disclose enough information regarding the cost of insurance at point of sale.

Bullying and Harassment.

Abusing a vulnerable 74 years old man and taking advantage of his age by continuously over charging him.

Complaint Summary:

The staff of MetLife Egypt have been bulling and harassing my father by calling him several times since the beginning of June 2019 asking him to pay L.E 14, 000 without providing any genuine reason what this charge is for and they told him that he has to visit his local branch to sort it.

On 23/06/2019, my father accompanied with my brother went to the Egyptian Head Office where they met someone who is called "Islam" and is supposed to be one of the managers there. Islam told my father that he has to pay L.E 14, 000 before July 10, 2019 otherwise his policy will be automatically terminated and in this case he will lose all what he has paid for the last 15 years. This is very terrifying for a vulnerable 74 years old man as he has been paying premiums in this policy since August 2004. The amount of the total premiums that he paid until now is L.E 88, 837.79 and the cover benefit is L.E 100, 000.

When my father asked "Islam" what is the L.E 14, 000 for, Islam told him that this is the annual premium and that it has to be paid annually. However when we raised this complaint to MetLife Egypt, they said that this L.E 14, 000 is to cover the cost of insurance and it is not the annual premium. We asked them how much is the annual cost of insurance and they said that it varies every year and that it was approximately L.E 12, 000 for the last year. We told them that the policy agreement states that the annual premiums should be L.E 9, 188.64 (L.E 2, 297.16 quarterly as per policy documents) so they said that the premiums are different from the cost of insurance. They said that at the end of each year they provide my dad with an annual statement which shows how much was the cost of insurance for the previous year (my dad says that he never got these statements however this is not the problem). We asked them if the policy documents at point of sale provided any information about how much the cost of insurance or how it is calculated or does it mention that there is annual increase however they said that policy agreement provided these details for the first 7 years of the policy's term (from 2004 to 2011 only) but not for the whole term, they said that this information wasn't provided for the period between 2011 and 2030 which is the policy's maturity date. MetLife Egypt said that they haven't breached the agreement as the agreement didn't provide these details for the period between 2011 and 2030. This is even worse than breaching the agreement as the policy documents failed to disclose very important information regarding the insurance cost which is considered to be a mis-sale as my father wasn't provided with enough information to enable him to decide whether this policy will be suitable for him or not, whether it will be affordable or not and whether it is a good value for money or not.

MetLife Egypt kept increasing the cost of insurance year after year since 2011 without any contractual agreement, without any rule for calculating this increase and without my father's knowledge.

This an unlawful increase in the cost of insurance has reached 52.4% increase at the beginning of this year compared to the first year.

MetLife Egypt is abusing my vulnerable 74 years old father and taking advantage of his age by applying these increases in the cost of insurance year after year without making him aware of what they are doing.

Could you please investigate all the above mess?

My father is totally exhausted from dealing with MetLife Egypt and regretting the day he did business with them. Therefore in the light of all the above, my father is requesting a full refund of all premium payments plus a fair average annual interest rate (within the Egyptian markets) of 10% on top.

Finally, can you also please deal with the distress, inconvenience and trouble caused by MetLife Egypt.

Should you require any further information or documents, then please contact me either by email: [protected] or call me on my mobile number: +[protected].

Yours faithfully

Mohamed Serry Mohamed (policy holder's son)

On behalf of Youssef Serry Mohamed

MetLife / Metropolitan Life Insurance Company [MLIC]

Jul 11, 2019

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