AR
Aisha R
1 reviews | Active since Sept 2019
12 Jun 2020, 21:57
******** platinum Life
I woould like to cancel ny policy with platinum life but they dont want to give me any money back.i have this policy for 9 years and now they say i cant even get anything they should just take a penalty and pay me out the rest.they are ******** us here.
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Platinum Life's replyOfficial
17 Jun 2020, 11:47Dear Aisha,
I have received your complaint and would like to provide some feedback regarding this matter.
As all our policies are pure risk, they do not acquire any surrender, loan, paid-up or cash value during its term. This is also stated in your policy contract.
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.
We do have options available to adjust your premium or place the policy on hold for a few months. I have arranged with a consultant to give you a call to discuss this with you.
Please let me know if there is anything else we can assist with
Kind Regards
Simone VenterClient Relationship Specialist & Client Care Supervisor
I have received your complaint and would like to provide some feedback regarding this matter.
As all our policies are pure risk, they do not acquire any surrender, loan, paid-up or cash value during its term. This is also stated in your policy contract.
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.
We do have options available to adjust your premium or place the policy on hold for a few months. I have arranged with a consultant to give you a call to discuss this with you.
Please let me know if there is anything else we can assist with
Kind Regards
Simone VenterClient Relationship Specialist & Client Care Supervisor
Platinum Life's reply17 Jun 2020, 11:47
Official
Dear Aisha,
I have received your complaint and would like to provide some feedback regarding this matter.
As all our policies are pure risk, they do not acquire any surrender, loan, paid-up or cash value during its term. This is also stated in your policy contract.
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.
We do have options available to adjust your premium or place the policy on hold for a few months. I have arranged with a consultant to give you a call to discuss this with you.
Please let me know if there is anything else we can assist with
Kind Regards
Simone VenterClient Relationship Specialist & Client Care Supervisor
I have received your complaint and would like to provide some feedback regarding this matter.
As all our policies are pure risk, they do not acquire any surrender, loan, paid-up or cash value during its term. This is also stated in your policy contract.
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.
We do have options available to adjust your premium or place the policy on hold for a few months. I have arranged with a consultant to give you a call to discuss this with you.
Please let me know if there is anything else we can assist with
Kind Regards
Simone VenterClient Relationship Specialist & Client Care Supervisor