Platinum Life pretends to care, but it's just about the money. They show no remorse whatsoever!

I know it’s a bit late, but I wanted to share the experience I had with Platinum Life.

I was a member of Platinum Life and had a Platinum Cancer Policy (Policy No. ***) for 5 years – since 01/05/2015. I also had my daughter and my partner on the policy. I was a loyal client of theirs and had not missed one single payment as I come from a family where cancer is quite common.

As we are all aware, the period of the Covid-19 lockdown has negatively impacted many people. During lockdown, my salary was cut, and I was also facing possible retrenchment, therefor I have sent an email to Platinum Life to cancel my policy.

The effective date of cancelling the policy was 05/05/2020. This decision was not taken lightly as I have been a loyal client of theirs for 5 years (paying R1,791.85 pm).

When I asked them to cancel my policy, I also asked them if there is any chance that some of the premiums paid could be refunded to me (as the cancellation was not done by choice). Platinum Life came back to me and said the policy is a risk policy and if I choose to cancel the policy there would be no money paid out on the cancellation thereof. I feel this was highly unfair as I was forced to cancel my policy due to lockdown.

We were in the middle of a pandemic which I had no control over, and it caused me to lose A LOT of money!

The amounts I paid per year: (Estimates considering annual premium increases)

May 2015 – May 2016 = R14,107.56 May 2016 – May 2017 = R15,675.12 May 2017 – May 2018 = R17,416.80 May 2018 – May 2019 = R19,351.92 May 2019 – May 2020 = R21,502.20

Estimate total amount paid for 5 years: R88,053.60

I think its disgusting that Platinum Life could not refund me even a portion of my premiums paid.

They always claim to “care” about the wellbeing of their clients. Where was the humanity when Covid hit?