My mother took out two policies for my two children, as a savings plan. When we started the policy, the policy was for a period of 5 years. Both started on the same date. When we wanted to cancel the policies, after paying for more than 5 years, we were advised that the conditions have been changed and that the policy needs to run for 180 payments. 15 years now!! If we encash the policies we loose a third of the money. We decided to encash rather that deal with this company anymore. We have struggled to cancel these policies now since March. Every month they still take the premium and off course keep a third for themselves when they eventually will pay out. We were promised new revised encashment forms again today (they are only valid for 7 days) but received an email with no attachment. I requested the forms again via email. No response. We are sick and tired of their lack of customer services and appears that they try and force you to keep on paying. Another very funny peace of info I received today is that although both policies was taken out simultaneously, the one is worth R1000-00 less that the other, because they received 11 payments less??? Incompetency squared!!!
0 comments