CO
Christina O

1 reviews | Active since Nov 2017

28 Nov 2017, 14:36

Unhappy - Ridiculous Installments/ No feedback

I posted this complaint 21/11/2017 - I have been with Platinum Life for more than 7 years now and I have never had a problem paying my installments up until this year. They tried to Increase my installment twice now to "keep up" with the current medical expenses. Both times i had to explain that it is getting ridiculously expensive and that i cannot afford to increase my installment so much every time. Just give an example. My Installment in October 2017 was R574.39 then in November they added the 10% yearly Increase, which took it up to R631.85. Then a couple of days after that I got a call to Increase the installment with another R170 whatnot, which I have declined due to financial reasons for the second time this year. This would have brought up my Installment to +- R800. This means should i have excepted the additional R170 whatnot my Installment would have increased with R225 + (39% of R574.39) within a matter of days. What I wan to know now is how do i cancel this and what is going to happen to ALL the money that i have paid over to Platinum Life over the last 7+ years. I chose Platinum Life because they were full of promises so many years ago, but now I feel like I am being taken advantage of financially.

To this day I have not received any feedback at all, it has been over a week now - So this means they probably want to to first take another installment from me before attending to me. This is really frustrating and disappointing! I just found the "Certificate of free female cancer cover" the sen to me in 2008. I have been a loyal client for a very long time and this is the treatment that I get.

1. Do not take one more installment from me if you are not wiling to contact me. 2. I want a full descriptive statement for the years with Platinum Life, with ALL money that I paid over to Platinum Life from the Start - I am sure I have the right of access to it as it my Policy and money we are talking about. 3. When you do call me please make sure that you come with a proper solution.

Should I not hear from you Within the next 24 hours I will take the matter further as suggested on the Statutory Notice To Long-Term Insurance Policyholders document.

0
Replies (1)
Platinum Life
Platinum Life's reply06 Dec 2017, 15:41
Official

Dear Christina,

Thank you for taking my call to discuss your policy last week. As requested I have emailed you, your policy information.

The increases in your policy were due to upgrades taken on the policy as well as your yearly inflation increases. As discussed with you, all upgrades taken are completely optional and can be removed at any time.

Your policy is currently on hold and no premiums will be deducted.

Any of our Client Care consultants will be able to assist you with your policy, alternatively, you can contact me on ***.

Looking forward to hearing from you.

Kind regards,

Tanja Yildirim

Client Care Manager

Platinum Life