Old Mutual Greenlight

We took out Life Insurance (Old Mutual Greenlight) on my husband's name 10 years ago and said that we did not want yearly premium increases. Wherever yearly increases are mentioned in the official document, N/A (NVT) is used to state there will be no increases in premium or benefits. Now after 10 years we all of a sudden have to pay a 20% higher monthly premium and when this was queried, we were informed of a small clause in the official document which states that Old Mutual has the right to review the policy every 10 years. My husband is now 70 old and retired and we are given the option of either a 20% premium increase or reduce your cover accordingly. We already gave up a similar policy with Old Mutual after 9 years as we could no longer afford to keep both. Apparently should the policy run for another 10 years, the monthly premium might be increased again. We took this matter up with our financial advisor who wrote letters to Old Mutual, Old Mutual themselves and the Old Mutual Arbitrator but to no avail. I can only tell people to be very careful when you do business with Old Mutual. I know I will definitely not recommend them to anyone and I will tell people about our experience wherever I go. Even retirees are taken advantage of by them.