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Mamo TCV Advocates: Insurance
Key Decision by the Financial Arbiter on Life Insurance Policies with Investment Insurance & ReinsuranceLitigation & Dispute Resolution

Key Decision by the Financial Arbiter on Life Insurance Policies with Investment

In a decision given on the 8th of August 2024 with respect to the case ASF 013/2024, the Arbiter for Financial Services (hereinafter referred to as the ‘Arbiter’) rejected a complaint filed against a Life Insurance Provider regarding a life insurance policy with an investment element which the complainant had purchased from the Life Insurance Provider in the year 2000. The complainant claimed that the said policy had matured to a significantly lower amount than what he alleged was initially promised upon its purchase. More specifically, the complainant asserted that he bought the life insurance policy as he believed that…