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Cancelling Manulife Policies

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ORIGINAL POST

Posted by mooks 12 yrs ago

I bought 2 Manulife policies 6 years ago but have since left HK and want to cancel them. They are Premier Lifestyle Protection and Premier New Generation Planner. Manulife tells me that I am going to lose most of the money I've been paying into these policies over the past 6 years if I cancel them now. I am devastated :( Does anyone know if there is a way around this or if I have any recourse? There is no Manulife office in Melbourne where I live now.

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COMMENTS

traineeinvestor 12 yrs ago

Sorry to hear about your loss.

Unless you can show that the sales person who got you into these policies lied or made misrepresentations, my gut is that you are stuck with the loss.

A lesson for others: if you need life insurance, buy term life only. The words "life insurance" and "investment" should never be used in the same sentence.

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Cancelling Manulife Policies

Posted by mooks 12 yrs ago

traineeinvestor 12 yrs ago

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