JH
Juline H

1 reviews | Active since Feb 2014

11 Sept 2019, 09:36

10% Annual increase without informing policy holder

I have a Platinum Life Policy where the premium increases yearly with 10%, My life circumstances changed since I took out this policy and in August 2017 I requested that the yearly 10% increase must be removed from my policy. This did not happen. According to Platinum Life this must be requested on a yearly basis. However, Platinum Life do not send correspondence to inform me of the increase on a yearly basis in order for me to accept or decline this increase. This is the reason why I want the automatic 10% increase to be removed from my policy. They cannot e-mail me to inform me it is time for my yearly increase, but they now where to get hold of me to try and sell me additional cover or to increase my cover. This is unacceptable. I want Platinum Life to restore my premium to what it was on 5 August 2017 when I send out the e-mail to request that the 10% increase must be removed. I also want to be refunded the increased amount that they deducted from my bank account since then with interest. If automatic increases can declined with other policies Platinum Life must surely have that option as well but just choose not to use it.

0
Replies (1)
Platinum Life
Platinum Life's reply12 Sept 2019, 15:34
Official
Dear Juline,

You were contacted by Juanita today, who assisted you with your policy. Arrangements were made to accommodate you and a refund has been submitted.

If you need any further assistance with your policy, please contact me directly on our call center number ***.

Kind regards,
Tanja