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Yolanda M
1 reviews | Active since Jan 2021
27 Jan 2021, 18:20
Life policy refund
I cancelled my funeral and life policy yesterday and I was told I won't get refund on the life policy plan. Please explain that to me because I need my premiums back
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Replies (5)
Sanlam's replyOfficial
28 Jan 2021, 07:40Dear Ms Mgadi, thank you for your comments. The life cover policy which started in March 2020 was cancelled on 26 Jan 2021. The policy was a risk cover policy, which provided life cover that would have become payable on your death. It was not an investment/savings policy and did not have any cash value that could be paid to you on the cancellation thereof. Assupol allowes for a premium refund if a policy is cancelled within the cooling off period of 30 days from the inception date of the policy. This life cover policy was unfortunately cancelled after 11 months of inception. For these reasons no premium refund is payable. Kind regards, Assupol Complaints Manager.
Sanlam's reply28 Jan 2021, 07:40
Official
Dear Ms Mgadi, thank you for your comments. The life cover policy which started in March 2020 was cancelled on 26 Jan 2021. The policy was a risk cover policy, which provided life cover that would have become payable on your death. It was not an investment/savings policy and did not have any cash value that could be paid to you on the cancellation thereof. Assupol allowes for a premium refund if a policy is cancelled within the cooling off period of 30 days from the inception date of the policy. This life cover policy was unfortunately cancelled after 11 months of inception. For these reasons no premium refund is payable. Kind regards, Assupol Complaints Manager.
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Yolanda M's updateReviewer Update
28 Jan 2021, 08:22I was not told about all that when I was signing up for the life policy. I have been paying for 11 months and that adds up to 3300. This means I am losing 3300 No! I want my premiums back
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Yolanda M's update28 Jan 2021, 08:22
Reviewer Update
I was not told about all that when I was signing up for the life policy. I have been paying for 11 months and that adds up to 3300. This means I am losing 3300 No! I want my premiums back
Sanlam's replyOfficial
28 Jan 2021, 08:42Dear Ms Mgadi, thank you for the response. We are investigating these allegations and will provide further feedback and a copy of the application form and policy provisions to you, by direct e-mail. Regards.
Sanlam's reply28 Jan 2021, 08:42
Official
Dear Ms Mgadi, thank you for the response. We are investigating these allegations and will provide further feedback and a copy of the application form and policy provisions to you, by direct e-mail. Regards.
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Yolanda M's updateReviewer Update
28 Jan 2021, 09:56Can I reinstate the policy because I can't just throw so much money to the drain
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Yolanda M's update28 Jan 2021, 09:56
Reviewer Update
Can I reinstate the policy because I can't just throw so much money to the drain
Sanlam's replyOfficial
28 Jan 2021, 10:14Good day, we will be in direct contact as soon as possible to discuss your request. Regards.
Sanlam's reply28 Jan 2021, 10:14
Official
Good day, we will be in direct contact as soon as possible to discuss your request. Regards.