Zurich savings plus premium increase

C

colin79ie

Registered User
Messages
369
Not sure if this is the correct forum for this question.

I have a basic 100/month Zurich savings plus plan. The premium was always €101 monthly.
A letter arrived today to inform me of a premium increase to 105.40 per month. I'm not getting anything extra as far as I can see. Just wondering if I should be querying this or why the jump from €1 per month to over €5 for the same thing. There was no real explanation for it.
 
Are you sure it's not simply automatic indexation of your regular contribution. Just tell them if you don't want to increase your regular contribution. You may have selected the indexation option at the outset.
 
Section Six - Annual policy increases
This section explains the operation of annual policy increases. If this section does not apply, it will be stated in the Policy Certificate.
1. At each policy anniversary date, your savings premium will be increased in the same proportion as the annual increase in the Consumer Price Index.
2. You may choose not to take the increase in your premium or to take a higher or lower increase in your premium, otherwise Zurich Life will increase your premium automatically. If you are not accepting the increase automatically, you must inform Zurich Life of your decision within three months of the increase being offered.
3. Zurich Life may offer annual increases higher than the increase in the Consumer Price Index.
Click to expand...
Of course, some people don't like these complicated terms and conditions documents even if they answer questions like this... ;)

PTSB - Credit Card conditions 40 pages - is it a bit light?

PTSB sent me Terms & Conditions included with the card renewal. Does the panel think they are a bit light at 40 pages?
www.askaboutmoney.com
 

Attachments

  • Savings Plus Policy Document.pdf
    152 KB · Views: 110
It's automatic indexation of your savings plan. Ring them up and cancel it if you don't want it.


Zurich should have an opt in on these plans, not an automatic increase.
 
Thanks for the replies. I had read the fine print but this plan is in place for 2 years, this is into year 3 and this is the first increase. It's been €101 since the start. That's the reason I posted the question, as I was unsure as to why it might be starting to increase now . I thought there may be some other factor in the financial world I wasn't aware of .
 
You must log in or register to reply here.
Back
Top