If you consider a life policy from SANLAM please read the following BEFORE signing the policy documents. I took out a life policy in 1992 (which the agent said it is the BEST on the market and only available from SANLAM) with a monthly instalment of R60.61. A few years back I out lived the policy and my monthly instalments were increased every year to the monthly instalment of R531.10 at present. I am a pensioner and cannot afford this premium every month, so I had to cancel the policy. After an admin fee was deducted I was told that I would get R31 327.90 out. Only R30 820.98 was paid into my bank account and upon enquiry, I was told that the rate of exchange was lower so my payout is lesser. Had I submitted my forms 3 days earlier, the payout would be R31 327.90 as quoted. My loss is thus R531.10 plus R 506.12 equals R 1 037.22 which is a lot of money for a pensioner. My concern is as follows: 1. NEVER was I told that there is a possibility of me out living my policy 2. NEVER was I told the premium would increase and the value reduced in the case of me out living the policy 3. NEVER was I told that I must submit the forms the same day as requested to prevent my refund to be reduced 4. NEVER was I told that this policy is linked to exchange rates To me, this is daylight robbery and the most dishonest way to treat people especially when SANLAM knows that it is the old aged that would be robbed, years after they started paying their hard earned money and leave them with nothing on their old age. There is one aspect that SANLAM is very honest about and that is their logo with the two hands and a dot in the middle. The dot is me and they squeeze everything out of me for their own benefit. So, think twice if you are planning a long life, SANLAM will hunt you down, if you have a life policy, BE CAREFUL AND THINK TWICE.