Anyone with experience with Old Mutual Insure?

[PlanesTrainsAutomobiles]

Considering moving my short-term insurance away from Discovery.

 

[Foxhound5366]

Considering moving my short-term insurance away from Discovery.

I used to think it was consistent, but I've come to discover that you might get a fantastic premium from one insurer one day, and a terrible one the next time you come back to them. I'd recommend you get quotes from Naked (it's chatbot based via the mobile app so couldn't be easier) and Outsurance (Outsurance surprised me last year by coming in cheaper than Naked - I guess they just really wanted my business). Personally I don't like Old Mutual ... I found their retirement product my employer sold me into to had many hidden fees, and after all faith is lost I don't go back for anything.

 

[BTTB]

I used to think it was consistent, but I've come to discover that you might get a fantastic premium from one insurer one day, and a terrible one the next time you come back to them. I'd recommend you get quotes from Naked (it's chatbot based via the mobile app so couldn't be easier) and Outsurance (Outsurance surprised me last year by coming in cheaper than Naked - I guess they just really wanted my business). Personally I don't like Old Mutual ... I found their retirement product my employer sold me into to had many hidden fees, and after all faith is lost I don't go back for anything.

My experiences are similar.
I don't trust Old Mutual with all their costs; I lost 20% of an already poor performing RA right in the beginning when the Section 14 Transfer were first allowed. It put my retirement value behind by a lot of money, perhaps a million or two over the long term.
They're a good company, should never have been allowed to demutualise imho, all they had to do was stop overcharging their clients for fees and more fees.

Outsurance also surprised me, not using them for a long time as I have a broker, but when my broker came up with a really pathetic quote on a new car for my wife, I shopped around, they were half the price and they really wanted my business, unlike the lazy broker.

Old Mutual underwrites a product for business employees called Simply. It's a really good product in my opinion, it gives me peace of mind that if an employee passes away, their family can be pointed towards Simply. My staff are insured for 1 years of wages, disability and funeral cover with Simply.
In my case I've had two employees, one before COVID and another this year that were unalived in their homes. Simply paid out their families a years wages and they did all the paperwork.

 

[SHL]

Personally I don't like Old Mutual ... I found their retirement product my employer sold me into to had many hidden fees, and after all faith is lost I don't go back for anything.

What product was this if I may ask? (Our employer provident fund is currently with Old Mutual)

 

[Foxhound5366]

What product was this if I may ask? (Our employer provident fund is currently with Old Mutual)

Old Mutual Max Investments, with an Echo Bonus.

It just wasn't growing, and something felt wrong. I fired my broker (who was claiming his cut of fees and delivering no value), transferred it from Old Mutual into Coronation, and super happy ever since.