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ZM
Zen M

1 reviews | Active since May 2021

19 May 2021, 16:35

Liberty Group is BAD!!

I signed up for an FNB Funeral Plan way back in 2002. Few years down the line, I was informed by FNB that going forward the said policy will be administered by Liberty Group. Had I known at the time how bad they are - I would have opted for immediate cancellation. As part of the annual policy update, on the 11 May 2021 (after 19 years) Liberty Group furnished me with a new policy number but everything else remains the same even though there premium is increasing. What is strange though is that I am not even allowed to upgrade or change the existing policy. See below: Status A - Active Product Type - Fnb Funeral Cover Plan Start Date - 01 January 2002 Premium amount at inception: R72.80 Premium amount currently: R83.80 Expiry Date - Whole Life Insured amount: R15 000

The premiums paid over the years, far exceed the insured amount and this is unfair and a *******. If I decide terminate this policy, I should pay out what is due to me after penalty.

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ZM
Zen M's update19 May 2021, 16:47
Reviewer Update
Liberty Group is BAD!! I signed up for an FNB Funeral Plan way back in 2002. Few years down the line, I was informed by FNB that going forward the said policy will be administered by Liberty Group. Had I known at the time how bad they are - I would have opted for immediate cancellation. As part of the annual policy update, on the 11 May 2021 (after 19 years) Liberty Group furnished me with a new policy number but everything else remains the same even though there premium is increasing. What is strange though is that I am not even allowed to upgrade or change the existing policy. See below: Status A - Active Product Type - Fnb Funeral Cover Plan Start Date - 01 January 2002 Premium amount at inception: R72.80 Premium amount currently: R83.80 Expiry Date - Whole Life Insured amount: R15 000 The premiums paid over the years, far exceed the insured amount and this is unfair and a *******. If I decide to terminate this policy, they should pay out what is due to me after penalty.