Be careful of Discovery Life cost when you older and delay to pay out due to admin issues.

Item: Discovery Life
Rating: 1
Author: ruahan N

Discovery is very quick to take your money, but very slow Admin process to either reduce your life cover or to pay out your annuities. Always a schlept to get the Admin going.

I am very unhappy that I ever moved my policies to Discovery, they play on your greed to get your business and then throw you incentives on payouts, dangling a carrot in front of you, kind of keeping you with them using your fear of losing out. Yet, they more expensive, keep in moving the vitality goal post every year!!

I urge all polycy holders to review your monthly fees especially at age around 64 to calculate of you will be able to afford the premiums.. I wonder how many people can't, and then you lose the policy and Discovery benefits.

Helpful (0)

Replies (2)

Discovery Life's replyOfficial

31 Oct 2022, 07:51

Dear Ruahan N

Thank you for your review.

As discussed telephonically, kindly note that we will require additional information in order to assist with your concerns. An email will therefore be sent to you as you have requested.

Regards

DISCOVERY LIFE

Discovery Life's reply31 Oct 2022, 07:51

Official

ruahan N's updateReviewer Update

13 Feb 2023, 18:15

Poor service and slow payment , Discovery is quick to reply on social media , however it still took over 1 month to receive payment when I redeemed my Investment at Blackrock and cashed in on my Discovery RA. This was a very tedious and frustrating process via email andtelephone conversations .

Vitality bull**** -
I moved my RA to Sygnia and with Vitality Diamond status , still pay 0.2% less in admin costs

Ra also shoed very poor growth over the years, A total waste of my money !

ruahan N's update13 Feb 2023, 18:15

Reviewer Update