Complaint

My complaint is about an increase in my monthly premiums that I did not sign to and was never advised of, my premiums increased abnormally three times in succession.

I bought a funeral plan insurance policy with Hollard on the 30th of November 2016, which was activated on the 1st of December 2016 with the first premium of R256.91 made before the December holidays 2016. I was advised that my premiums are subject to review on every 1st of December as per policy schedule received. A debit of R256.91 or more were made on the 25th of every month from my account until the 25th of November 2017 as I was advised on the 18th of November 2017 that from 25 December 2017 my premiums would increase to R274.44, the same was sent on the 12th of December 2017. I had no problems with this as it was part of my contract with them. On the 27th of December 2017, I then received another notification from them that from the 1st of February 2018 my premium will increase to R318.70. I queried this and expressed my dissatisfaction with this but they still proceeded and debited me without my consent to this. On the 27th of March 2018 I then received a notification from my bank account that Hollard has debited me an amount of R330.43, which is an amount that was never brought to my attention and never consented to, I then called them but they failed to make me understand why they had increased my premiums by 20.41% over a period of three months without my consent. Seeing that this was not fair to me, I then requested them to cancel my policy and also advised them that I will be lodging a complaint with the FAIS OMBUD. My policy was cancelled and confirmation was sent via an SMS.