NS
Nokwanda S
1 reviews | Active since Apr 2015
30 Jun 2021, 09:31
Increase on Policy within a year calling it "Re-rate policy"
I took out a policy with Hollard commencing the 1st November 2020, I got an sms on the 29th June stating that they are committed to putting their customers first therefore they have made a premium increase to my policy, policy premium are adjusted yearly according to my policy schedule, I called HOLLARD and was informed that the company had experienced an influx of claims so they HAVE to adjust all policy PREMIUMS, a Re-rate to the policy, nowhere in my polisy is this stated, HOLLARD is a SHAM , i have taken this to the OMBUDSMAN , this is ********* , pure day light *******.
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Hollard Life's replyOfficial
30 Jun 2021, 10:28Hello Nokwanda
We acknowledge your disappointment regarding the increase of premiums to your policy.
We consistently relook at whether premiums being paid are sufficient to meet the expected claim payments on an ongoing basis. Upon review of our past claims experience, we have paid out more claims than expected.
Unfortunately, we expect claim payments to be higher in the future as well. This is why have implemented an unplanned increase of up to fifteen percent to the premium on your policy, in addition to the annual increase applicable.
Kind Regards
Natasha Vos
We acknowledge your disappointment regarding the increase of premiums to your policy.
We consistently relook at whether premiums being paid are sufficient to meet the expected claim payments on an ongoing basis. Upon review of our past claims experience, we have paid out more claims than expected.
Unfortunately, we expect claim payments to be higher in the future as well. This is why have implemented an unplanned increase of up to fifteen percent to the premium on your policy, in addition to the annual increase applicable.
Kind Regards
Natasha Vos
Hollard Life's reply30 Jun 2021, 10:28
Official
Hello Nokwanda
We acknowledge your disappointment regarding the increase of premiums to your policy.
We consistently relook at whether premiums being paid are sufficient to meet the expected claim payments on an ongoing basis. Upon review of our past claims experience, we have paid out more claims than expected.
Unfortunately, we expect claim payments to be higher in the future as well. This is why have implemented an unplanned increase of up to fifteen percent to the premium on your policy, in addition to the annual increase applicable.
Kind Regards
Natasha Vos
We acknowledge your disappointment regarding the increase of premiums to your policy.
We consistently relook at whether premiums being paid are sufficient to meet the expected claim payments on an ongoing basis. Upon review of our past claims experience, we have paid out more claims than expected.
Unfortunately, we expect claim payments to be higher in the future as well. This is why have implemented an unplanned increase of up to fifteen percent to the premium on your policy, in addition to the annual increase applicable.
Kind Regards
Natasha Vos