Don't deal with Morebo AKA NGM Benefits

I had sent an email to cancel an income protection service with Morebo Financial Solutions, also known as NGM Benefits. Practice Team Leader Ryno Crous, had assured me that the cancellation will be actioned:

"We will act on your below instruction, but have to advise against it in view of the potential implications. Please advise how you would like to proceed."

I feel most people would interpret this as:

"I'm cancelling your service. But are you sure? Let me know?"

Two months later, a debit is deducted from my account. I email Morebo about this, stating that they clearly said it would be cancelled. To which Ryno replies:

"The extract highlighted in yellow is of particular importance in relation to this matter. The practice of rendering financial advice is heavily regulated, and our conduct is governed by the Financial Advisory and Intermediary Services Act 37 of 2002 (FAIS Act) as well as the General Code of Conduct for FSPs and their representatives, and these pieces of legislation obligates us to first inform you of the potential implications consequential to certain decisions, and to affirm whether you fully understand the said implications, before we action any instructions."

In addition to the above, this was also from Morebo:

The highlighted text, referring to: "Please advise how you would like to proceed."

Only after my complaint did they send me a couple of forms to fill out to complete the cancellation process.

"If the process is delayed, your premium will be applied to the policy, as you are currently enjoying coverage, and a full refund will not be possible."

Morebo have not only failed to act on this, they have failed to apologise for this mistake. To top it off, they tell me it's pro-rata and I may not get my full refund, completely due to your initial negligence on the matter.

Today, they have just informed me:

"Liberty has informed us that they will not be able to refund your premium, as you are already covered – and will continue to enjoy cover – until the end of the month."

It is with this lack of integrity that I will never recommend Morebo Financial Services / Morebo Group / NGM Benefits to anyone. Do a search on NGM Benefits on HelloPeter as well and make your own mind up.