Profits over clients; where green turns red

I was recently quite shocked when our family’s childminder informed me about an education fund she had started for her children.

She asked me to review the policy after the first monthly premium of R275 went off her account.

The shock factor amounts to that of the monthly total deduction, only R217.50 is the actual investment post admin fees – that’s more than 20% of the monthly premium.

Businesses need to make money, and I get that, but at what cost to the people using the services?

The policy has since been cancelled, but only R163 was returned, after yet another fee…