Apology Over Answer? Altius Insurance Sends Legal Warning to Its Client

Jessica Kim, an experienced professional expat, has raised concerns regarding her dealings with Altius Insurance, an insurance company. She alleged that a life insurance package was marketed to her as a "safe investment," comparable to a "savings account," but actually did not meet the assurances given when she paid for it. Her experience underscores the need for vigilance when navigating financial products in foreign markets.

According to Jessica, an Altius Insurance account manager described the policy as fully protecting her initial investment, with the promise to withdraw funds without penalties after five years. However, upon attempting to close the policy, she discovered that nearly half of her investment had been lost.

The situation escalated when Altius Insurance required Jessica to surrender the original policy contract as a condition for closing her account. When she requested a detailed explanation and supporting documentation regarding the refund calculation, the company did not provide a clear response. Instead, she received documents that did not address her inquiry, and her repeated requests for clarification were met with limited engagement from the account manager.

_{Altius Insurance's Life insurance department did not respond to Jessica's emails}

Over a span of three weeks, Jessica attempted to resolve the matter through direct engagement with the company, making approximately ten inquiries. She reported that these efforts were met with delays and a lack of transparency.

Frustrated by the situation, Jessica shared her experience on online community forums and warned others. She alleged that rather than addressing her concerns, Altius Insurance removed her contact attempts and subsequently issued legal warnings. Both the company and the account manager reportedly sent letters via legal representatives, requesting a public apology for statements they viewed as defamatory.

_{Altius requires a public apology}

Jessica maintained that she has the right to access full policy documentation and a clear explanation of the refund calculation. She believed the refusal to provide such details raises concerns about business practices and transparency within the company.

Jessica's case highlights the importance of financial due diligence, particularly for expatriates in Cyprus. Experts advise that individuals should ensure all promises are documented, retain copies of contracts, and seek independent financial guidance before committing to long-term financial products.