Momentum, what a bunch...

<p>I took a life cover policy for both my wife and myself from momentum over the phone through a call centre agent named Quinten Blake. This policy started on the 1st of February 2014 with an annual increase of 5% according to my knowledge. Dealing with such a well recognised company, to my surprise they have been giving me a 10% annual increase for the past 4 years without even notifying me. I logged a complaint on the 01/12/2018 and requested a copy of the call recording of when I took up this policy which was given to the KZN Regional Manager named Anita Roshnee Pandaram to handle which has never even given me a courtesy call till date. Momentums policy is for the customer complaints to be handled within 30 days of complaint but this idiot took over 4 months and got a guy by the name of Lloyd A Naidoo to give me feedback on the 03/04/2018 and I only received the call recording on the 10/04/2018. According to the call recording when this policy was taken. I was only quoted on a 5% annual increase &amp; 0% annual increase and I chose the 5% increase option. Momentum now comes back knowing that they were wrong, now base there 10% increase on a document that I have no knowledge off or have never seen till late last year when I logged this complaint. Upon viewing this document I noticed no signatures and my address was wrong. When speaking to another financial advisor I was told that, that document is there for momentums filing has nothing to do with this policy cause this policy was taken over the phone and the contract will be the voiced call recording. According to my current Financial Advisor Feroza Khan- if I was sold the policy with a10% annual increase, the financial advisor was supposed to explain that I was getting a 10% annual increase but listening to the call recording we discussed over 20 times a 5% increase and never even once a 10% annual increase. Even before I ended the topic on the call recording, I questioned the advisor on the premium and increase and I was told that the premium was going to be R328pm with a 5% annual increase. Imagine how many people are getting ****med by momentum when paying their whole lives then when claiming, Their families claims are rejected due to this false document. Imagine if this was a Funeral policy and when the person dies, the family needs the funds to proceed with funeral and Momentum comes back 4 months later saying that they don't want to pay due to their personal documents that they only have knowledge off??? How many people must be getting ********** like this daily. When I did my calculations at a 10% annual increase, I'm currently 34yrs of age and paying close to R500pm and with a 10% annual increase my premiums will double every 7th year (eg. Age 34- R500pm, Age 41- R1000pm, age 48- R2000pm, age 55- R4000pm,age 62 - R8000pm) so if i reach the age 90, I will be paying an estimated monthly premium of R120k but at 5% annual increase your premiums double every 14 years and if I reach the age 90 I'll only be paying around R6000pm. Since it's a life cover and there will be no cut off date for my premiums in which I'll be paying for this policy till the day my wife and I die. So I'm sure for most people their life covers sooner or later become unaffordable so these people end of letting their policy lapse, loose all their premiums to these ******** (Momentum). People please be very careful when dealing with momentum cause as you can see, these people only focus on their own pockets and not you.</p>