Are some insurance companies scamming

Inem

Active member
I just curious to know if we have some insurance company that plays fast one on their clients especially those that took the whole life assurance policy that the money needs to be paid to the family after their demise. Have you heard or experience any bad news of this nature or the insurance companies are always truthful with dealings with the bereaved family.
 

jaymish2

New member
I think it depends on what country you live in. How strict is the regulator in your country. If they are no strict regulations then insurance companies can corn you. However I also think that most people don't read the terms and conditions on insurance agreements. Off course the terms are always in very small letters which most people don't have the time or the patience to read. The courts should help here. They should make the companies explain all the terms to their clients, I think this is only fair. They is so much insurance fraud.
 
T

TanyaSong

Guest
For sure I agree with the above post. It depends on their level on professionalism. A person should always make sure that they are contacting the real firm or insurer so as to avoid future scamming and wastage of money too.
 

Mandy96

Valued Contributor
Since insurance companies are usually and mostly owned by private sectors, the policies can’t be the same. Some insurance policies will sound exactly like they don’t want the insured to have benefits whatsoever, they just want all the profits and this will make it sound unfair and some of them will list what you want to hear but eventually it would be another thing
 

btaliat

VIP Contributor
Just like we are capable of being scammed by any business, insurance company too can scam their clients. This is the reason why we need to make a well research before we partner with any insurance company. We can even hire an agent to do this for us if we are new to insurance.
 

Jamoflondon

Verified member
I really can’t call it scamming because it’s almost like a legitimate scam which won’t be termed as a criminal act under the law. Nevertheless, the policies are very tricky and usually favorable to the insurer most. This is why clients should always through the plan and make sure it is understandable
 

Mataracy

VIP Contributor
According to your statement you made that; is it possible that some insurance company can still scam people?. I will definitely say yes because there may be some that has not registered there name under government and are not operating according to the laid down rules and regulation of insurance body.
Those one that are not well register can scam people.
 

Wisdom01

Valued Contributor
I think there are scam insurance company available online , so you need to be careful most of them might bring out counterfeit documents to claim that they are real and genuine , but be more careful because those documents might actually be a scam type of document too I think
 
Top