1 reviews | Active since Aug 2012
Our money makes Discovery millions!
Since coming to live in beautiful CapeTown twenty years ago, I have paid a fortune to Discovery as a result of their illogical and pernicious practice, of uplifting premiums by 50% on members, over 50 years old and not previously insured in SA. I say illogical, because I had an exemplary claims record of over thirty years in the UK that Discovery wasn't interested in. I had to live with it. However, the latest takes first place. I have for several months be requesting information on interest paid on Medical Savings Account balances, money members save every month to defray out of hospital costs. After receiving innumerable emails with reams of data attached and all answering a question I never asked, regarding my claims record, I received an informative reply that left me incredulous. At the year end accounts with a balance below R5,000 DO NOT ATTRACT interest. Think about that in terms of 1.4 million members and if just a quarter, 350,000 have such savings accounts and if they have a year end balance of only R2,500, that gives Discovery around R900,000,000 to play with! I useful sum if you want to open a bank and call it Discovery Bank!!!
