Have you ever wondered why premium adjustments are necessary? Or how these changes will affect your benefits? Perhaps you’re curious about the factors considered during our annual policy review.

At Icebolethu Group, our commitment to you and your family’s future goes beyond providing support and exceptional services. It extends to keeping you informed at all times.

We understand that changes in premiums can spark curiosity and perhaps even a few questions. That’s why we’ve compiled this set of Frequently Asked Questions (FAQs) to guide you through and ensure that you have all the information you need.

1.  Why is there a premium increase, and when will it take effect? At Icebolethu, we continually strive to enhance our services and maintain the highest standards for our valued members. The premium increase is essential for ensuring sustained benefits and coverage. For existing clients, the new premiums will take effect on 1 March 2024, while new clients will start with the updated premiums from 1 February 2024.

2. How much will my premium increase? Premiums will see a moderate increase on an average 10%, though some policies will have a higher percentage price increase, ensuring a balanced adjustment for all policyholders.

3. Will my benefits be affected by the premium increase? Absolutely not. In fact, we have increased cover benefits to continue delivering quality services to you.
4. Can you explain the factors considered during the annual policy review? Our annual policy review involves a meticulous examination of specific underwriting requirements, claims patterns, and unique aspects of your policy. This ensures that our adjustments align with your evolving needs.
5. How can I find out the new premium amount for my policy? We’ve made it easy for you. Your updated premium amount will be sent to you via SMS. Alternatively, you can visit a branch or reach out to our call center to speak with a dedicated Icebolethu agent.
6. When was the last premium increase to my policy? The last premium adjustment was in 2021, and we empathize with those still recovering from the economic effects of COVID-19. No increases were made in 2022 or 2023, underscoring our commitment to supporting families during challenging times.
7. Will there be any further premium increases in the future? All premiums are reviewed annually, and any adjustments are made based on careful evaluations of economic factors, claims patterns, and industry trends. We promise to communicate any changes transparently to our valued clients.
8. How can I address specific questions or concerns about the premium increase? We’re here for you. Please feel free to reach out to us at 0860 000 7580. Our dedicated team is ready to assist you and provide the information you need.
9. Can I opt-out of the premium increase? Unfortunately, the increase is essential to maintain the quality benefits and coverage for all members, and it applies across all policies. However, you always have the option to explore different policies that best suit your needs. Contact our agents to discuss available options.
10. What value does the new premium bring? The increased premium comes with reviewed cover benefits, ensuring consistent and enhanced quality services for our clients.
11. When will it take effect? For new policies, the changes will be effective from 1 February 2024. For existing clients, it will start on 1 March 2024.
12. Who is impacted? All clients with policies held for 12 months and more will be impacted. Policies held for less than 12 months will see their increase on their policy anniversary months.
13. Who is not impacted? Policies with less than 12 months tenure will experience the increase on their policy anniversary months.
14. What if I cannot afford the new premiums? We understand that circumstances vary. Our consultants are here to assist you in exploring suitable plans that align with your budget and needs.

We appreciate your understanding and look forward to continuing to serve you with excellence.