Sanlam
Rich get richer and poor poore

My wife decided to take early retirement, at the end of November 2012. We contacted Sanlam and ask to make her policies paid up, (as they can not pay the money to her before retirement age)
My complaint is that on a very small policy of R34000, 00 policy value, Sanlam is charging R5099, 00 to make the policy paid up.
According to Sanlam by law they can charge as much as 30 persent of the value???
Why are people encouraged to save, invest and plan for their retirement and that is the kind of penalty you pay for taking early retirement, so that someone else can have a job as well.
I received a breakdown of the fees as follow: Fixed fee - R450, 00 - Premium R4598, 08 - Fund R50, 99.
Why a premium of R4598, 08???

Company: Sanlam
Country: South Africa
City: Bellville

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