1 reviews | Active since Nov 2019
Ripping people off
So I called platinum life insurance this morning to find out if I cancel my policy if I would get any of my premiums back, and to my surprise I get told NO unfortunately not because this is a high risk policy you don't get any money back. So my question to Junita is basically what you telling us as the customers we paying a premium every month for absolutely nothing. What is the chances of me even claiming on this policy is like 0% as i have my check ups twice a year so I know am all good. I have been paying for this policy for the past 4 years now. What a ******* this company is. Ladies please be warned DO NOT take up a policy with Platinum life if you do Ask questions first and then weigh your options as they only tell you the good and not the bad or what could be.
I am so disappointed it's not even funny, I am ever so sorry why I took this policy out, all my money down the drain. I have paid a total of R170 691.84 to date if not more towards this policy for the past four years.
But I guess there is no use crying over split milk. Lesson well learnt.
Well done platinum life. You deserve a bells.
I have received your complaint and would like to provide more information regarding this matter.
Please note that your policy does not acquire any surrender, loan, paid-up or cash value during its term. Please refer to the General terms and conditions in your policy contract which states that “The policy does not: accrue a surrender value."
Keep in mind that this policy is a whole life policy. This means that in order to enjoy cover in a month, a premium must be paid on time. Each monthly premium is paid individually and separately for the specific risk that Platinum Life carries for that month. There is no cumulative effect of premiums paid over the duration of a policy. Previous premiums have no bearing on the cover available for a current month and do not accumulate a value.
Your cancellation has been processed and a consultant will be in touch within the next week to confirm this with you.
Please let me know if there is anything else I can assist with or clarify regarding this matter
Kind Regards
Simone Venter
Client Relationship Specialist & Client Care Supervisor
I have received your complaint and would like to provide more information regarding this matter.
Please note that your policy does not acquire any surrender, loan, paid-up or cash value during its term. Please refer to the General terms and conditions in your policy contract which states that “The policy does not: accrue a surrender value."
Keep in mind that this policy is a whole life policy. This means that in order to enjoy cover in a month, a premium must be paid on time. Each monthly premium is paid individually and separately for the specific risk that Platinum Life carries for that month. There is no cumulative effect of premiums paid over the duration of a policy. Previous premiums have no bearing on the cover available for a current month and do not accumulate a value.
Your cancellation has been processed and a consultant will be in touch within the next week to confirm this with you.
Please let me know if there is anything else I can assist with or clarify regarding this matter
Kind Regards
Simone Venter
Client Relationship Specialist & Client Care Supervisor