BIG S__B ☠️

ZENITH BANK & PRUDENTIAL ZENITH ARE TRYING TO RIP ME OFF MY HARD-EARNED MONEY. A thread on how their bancassurance trap works: @ZenithBank @PrudentialZen @naicomng @fccpcnigeria My experience with PrudentialZen and ZenithBank has been frustrating, and I believe people should hear about it before signing up for an insurance plan through a bank. 1/5 In October 2023, a Prudential Zenith representative, Mr. Valentine, approached me at a Zenith Bank branch and convinced me to sign up for the Edusave plan. I was told it worked like a fixed deposit: I could deposit any amount, the plan would mature fully after seven years, and I could terminate it at any time. Based on that explanation, I deposited my money because I believed I was signing up for something similar to a fixed deposit. 2/5 In 2024, I contacted Prudential Zenith customer care because I wanted to terminate the policy and I was told that cancelling at that point would mean losing all my money. but I asked why, I was advised to wait until I had completed three years of the seven years before requesting termination. I was told that if I withdrew earlier, I could lose up to 50% of my contributions. i told her this wasn't what i was told when i was convinced to deposit that money into the account in 2023. with no choice , I accepted this advice in good faith and waited, believing it was the best way to recover my money. 3/5 Now that I have completed three years, I am trying to get my money back. However, I am being told that a 100% early-termination charge may apply, potentially wiping out all my contributions due to me failing to further deposit into the account and so on which I'm just getting to know. My questions are simple: Why wasn’t this clearly explained before I signed up? Why wasn’t I informed about these conditions when I contacted customer care in 2024? If I had known the full terms from the beginning, I would never have signed up for this plan. 4/5 To make matters worse, the monthly premium structure and the consequences of missing contributions were not properly explained to me. I am now trying to understand how much I am expected to contribute, whether I can settle the premiums for the 36 months that have passed, and what steps I need to take to terminate the policy and recover my money. I want my money back. I am no longer interested in continuing with this plan, and I should not have to discover important conditions only when I am ready to leave. 5/5 @PrudentialZen, I need clear answers to these questions: Why were these conditions not properly explained when I signed up? Why was I advised to wait three years if I could still lose all my contributions? What exactly must I pay or do to terminate this policy and recover my money? I have escalated this matter to @naicomng and @fccpcnigeria because customers deserve transparency when their hard-earned money is involved. Selling someone an insurance plan without clearly explaining the exit conditions, then allowing them to discover the consequences years later, is simply not fair.