At 9:00 a.m. on May 15, nearly 90 customers who deposited savings at Saigon Commercial Joint Stock Bank (SCB) and were advised by consultants to convert their savings into the "Investment Security" product of Manulife Insurance Company went to Manulife's headquarters in District 7, Ho Chi Minh City to request to cancel their insurance contracts and reclaim their paid money.
These customers mainly have complaints after April 30, 2023, which according to Manulife's announcement published on May 12, "will not be resolved for customers who have complaints after April 30".
Many customers gathered at the insurance company headquarters.
A Manulife representative has accepted the collective complaint from these customers, with a list of up to 98 people. A Manulife representative said that customers on the list will be temporarily frozen and will not need to continue paying fees if due.
In the minutes of the meeting between Manulife and its customers, Manulife representatives will propose that Manulife leaders amend the May 12 notice to continue receiving complaints from "Investment Security" customers for resolution. Manulife will review and respond no later than May 19 to provide a specific resolution for the collective complaint.
Complaints from nearly 100 customers
Mr. Nguyen Van Thuc in Dong Nai (paid over 100 million VND for the "Investment Peace" package) was upset that customers who filed complaints before or after April 30 are the same, they are all victims in this case. Many people do not have access to information so they cannot file a lawsuit soon.
"No one wants to sue, they just want to get 100% of the original money back because this is not insurance money. This incident has caused many consequences, conflicts, and discord in the family, some people are even negative and do not want to live" - Mr. Thuc shared.
The complaining customer went inside the insurance company headquarters.
Manulife Insurance said that the company only considered complaints received before April 30 based on understanding and sympathy for SCB customers after the crisis that occurred at this bank in October last year. Most of the complaints from SCB customers participating in the "Investment Security" product were sent in October and November 2022, right after the SCB crisis occurred. Therefore, Manulife decided that April 30 was the appropriate deadline and customers had enough time to contact Manulife to acknowledge the concerns they had encountered in the past.
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