Alexander Forbes Insurance
Increase in premiums without increase in benefits

My wife has an insurance policy and enquired the following from the company:
Dear sir
I have just received a letter from you with regards to yet ANOTHER yearly increased premium for my disability policy no521118*1. I do not consider a yearly increase of nearly 20% (R36.92 to R43.92) a minimal increase and strongly object to paying so much for a policy of which the benefits remain the same. This yearly increase (previous years at 5 - 7 %) has only been implemented in the last couple of years and I wonder how long I will be able to still afford the premiums
Please let me know what Alexander Forbes' policy towards yearly escalations is, so that I can make a decision on whether it will benefit me NOT to cancel.
To me it is totally unacceptable that the premiums continue to rise, while the benefits keep on being eroded by inflation.
Thank you
Mrs. Gerda Pretorius
After numerous requests for a response we get the following on 31 May
"Subject: RE: Policy adjustment no. 521118*1
Good Day
Please note the rate increase to apply to all the Alexander Forbes Direct clients and the the benefits does not increase only the premiums do.

I presume this is your formal policy then.!
Fanie Pretorius

Company: Alexander Forbes Insurance
Country: South Africa
City: Direct mail contact

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