Unfair Premium Increase & Poor Communication From Sanlam

I have a life insurance policy with Sanlam (Policy ***X4). My contract clearly states a 5% annual increase, yet my premium was increased from R627.87 to R700.08—an increase nowhere near 5%.

Sanlam is now claiming the escalation rate was increased to 8% due to “age-related adjustments”. This was never disclosed when I took out the policy. I was not informed, not consulted, and did not approve this change.

On top of that, Sanlam repeatedly asks me for my beneficiaries’ information, even though I have submitted it multiple times and received no response to previous emails.

This is unacceptable service, poor communication, and feels like unfair treatment of a loyal policyholder. I am escalating this matter to the Long-Term Insurance Ombudsman and the Consumer Protection authorities if it is not resolved.