I cancelled my policy with CIB due to multiple increases on an annual basis, high premiums and terrible service. Found insurance much cheaper elsewhere (R700 pm cheaper). Cancellation was done during October and a pro-rata amount is due to me. The premium for November also went off which now means the premium and pro-rata amount is due to me. Up to date I have NOT received anything back from Cib. I phoned Cib and was informed that the refund will only be made at around the 18th/19th of November which is not acceptable. I've paid pro-rata for October and my November premium on my new policy which leaves my finances in disarray while Cib gets interest on my money!
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