CA
Casavine A
1 reviews | Active since Jul 2022
28 Jul 2022, 20:34
Worst Insurance Company ever
By far the worse insurance company in South Africa. They are ********. They stopped debting then started again then stopped again then told me my policy is lapsed. So i lost all those years money that they refuse to pay back not even a R1 they are the worst i am disgusted.
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Sanlam's replyOfficial
29 Jul 2022, 06:01Good day Casavine, thank you for your review. You held a funeral policy with Assupol, which lapsed in Jan 2022 after Assupol stopped receiving premium payments from you. The funeral policy was a risk policy and not an investment policy.
Payment of the premium is therefore not an investment in the traditional sense of the word where the policyholder can demand repayment thereof if a claim was not made. What the premium does is it gives the policyholder the right (for that month) to hold the insurer to its promise to pay a benefit on the happening of an uncertain event (in that month). Once the month has passed, another premium must be paid in order to hold the insurer to its promise for the next month. When the policy ends, it does not automatically entail that a premium refund should be paid. Regards, Assupol Complaints Manager.
Sanlam's reply29 Jul 2022, 06:01
Official
Good day Casavine, thank you for your review. You held a funeral policy with Assupol, which lapsed in Jan 2022 after Assupol stopped receiving premium payments from you. The funeral policy was a risk policy and not an investment policy.
Payment of the premium is therefore not an investment in the traditional sense of the word where the policyholder can demand repayment thereof if a claim was not made. What the premium does is it gives the policyholder the right (for that month) to hold the insurer to its promise to pay a benefit on the happening of an uncertain event (in that month). Once the month has passed, another premium must be paid in order to hold the insurer to its promise for the next month. When the policy ends, it does not automatically entail that a premium refund should be paid. Regards, Assupol Complaints Manager.