How The Insurance Companies Bully People...........

2 Responses

The other day, as I watched the ad of an insurance company boasting its services, I was wondering as to how these companies react when the real calamities befall. In some way or the other, these companies accept the premiums with both hands while at the time of claims, people literally have to spread both their hands. Then whether it is life insurance cover, car insurance, or medical insurance, these people literally make you run on your toes.

How can one forget how the companies reacted after the July 26th 2005 deluge in Mumbai? As it is, lakhs of people suffered immense losses in the form of property, vehicles, grains, and even lives. Godowns were filled with water, cars were submerged, yet the insurance people, instead of lending a helping hand, they added salt to their wounds by giving them only a percentage of the actual insured amount. And later, flood affected vehicles did not get anything!

Now let's talk about medical insurance. People diagnosed with problems of high blood pressure, diabetes and other obesity and heart related problems are never insured. Now check out some stats : one out of every seventeen Indians is diabetic. And three out of five suffer from high blood pressure and hypertension. And I need not say anything about obesity. That's the way the cookie crumbles....

Oh, I missed the most important part - the documentation. Damn, the number of documents and proofs you require to show your existence are simply terrorizing! If I want want to get a life insurance cover, I need to show my PAN(Permanent Account Number) card, ration card, a proof of my residence, my birth certificate, a document showing my existence!

All this reminds of Maddux, the fictional character in most James Hadley Chase's marvellous novels. He seems to smell frauds and scamsters even before they become one. He is the one who always avoids the payment of dues by proving something or the other. It is said that, for him, paying the dues, is like giving a pound of flesh.

Well, time for me to sign off, I'll be back with some more 'How blahblah folks fool you.....' stuff.

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2 Responses:

Robin Green on November 27, 2008 at 7:59 AM

Insurance companies , in my book, are some of the worst moral people in the world. Many people who have insurance are dying because of being refused treatment by there insurance companies. If they want pay for the treatment, many can not get it.

They are dying while waiting to be approved for a things that are already covered.

John Wilsdon on September 1, 2012 at 12:04 PM

You have expressed the sentiment of many of us when discussing "insurance". It is my opinion that with the liability law the way it is constructed, insurance companies feel you are a trapped customer. In their minds, if they convince they somehow will offer a tad more than another guy, you going to bite. Therefore, they feel entitled. When one feels entitled, one loses perspective on how the rest of us live.
It's good to get this stuff off your chest from time to time. I enjoyed this.
I also read this article which proffers a similar sentiment.