Clientele Life
Clientele Changing terms on Policy

Good day,

This was the first mail I received from Clientele: It is important to remember that in the 1st year only 5% of your premium was invested and from the second and subsequent years 85.5% of your premium is invested. This means that encashing anytime before 10 years you will only be entitled to 60% of your value. After 10 years (120 paid premiums) you will qualify for 100% of the value available at that stage. You have thus far paid 117 premiums. "

This was 6 months ago, Today I received this mail, after wanting to in cash this policy:

It is important to remember that in the 1st year only 5% of your premium was invested and from the second and subsequent years 85.5% of your premium is invested. This means that encashing anytime before 15 years you will only be entitled to 60% of your value. After 15 years (180 paid premiums) you will qualify for 100% of the value available at that stage. You have thus far paid 119 premiums.

So Clientele, have changed my policy from a 10 year 100% payout, to a 15 year 100% payout, without letting me know. This must be fraught. Plus, I have paid more than 120 payments up to date, I can proof this.

Clientele is changing their terms.

Company: Clientele Life
Country: South Africa
City: Pretoria

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