I took a policy last year in December and was very clear that I was taking it on condition that there will be no premium increases. They however stated that there will then be an increase 20% after 10 years and another 20% after another 10years, and this I agreed to. I am now surprised that after a year there is a 10.44% increase and they claim that I agreed to it even though its in black and white that I chose a portfolio with no premium increases. What makes it worse is that they made me cancell another life cover that I had with Hollard which was cheaper. Instead of sticking to the initial agreement that we had, they now want to recruit me for another policy. I will not be negotiating policy condition after every year. They know that if I cancell the policy I will be losing all my premiums that I contributed, and so I am on the losing side here.
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