Sir/Madam
I was very disgruntled as a member for the last 10 years to notice an increase on my last Classic Saver policy WITHOUT any notification whatsoever!
I cannot understand why :-
a) You take an increase of 9% from customers when you have only allowed for a 4.2% increase from health providers... so by deduction that's an extra 4.8% in the coffers of your profits! Disgusting
b) Inflation was pegged at 5.9% in Q4 2013 so why take a 9% increase... don't you think South Africans are already taking a beating financially... why is it justified to take a price increase above inflation?
c) What gives you the right to take an increase without notifying your customer base? Is that not in effect?
d) Logic would also dictate that increases should be based on risk profile... ie. those that claim a lot (like normal insurance) should be charged extra and those that are healthy low risk individuals should actually not be charged an increase at all!
e) Finally I tried calling your 0860 number to talk to someone about this and held on the phone for 30 minutes! Eventually I gave up and hung up the phone.
I am appalled and would appreciate answers to the above questions.
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