General insurance What are the DOs and DON'Ts of insurance?

[Wisdom01]

Yes, that's why they have team that always checkmate on every damages in which the insured accrued. They make deep review, conduct surveys in order to make sure you aren't tricking them. If they find out that such person who is in agreement with them over an insurance policy is tricking with genuine facts. Surely the contract will be terminated with immediate effect and the insured loses.

Yeah it will be terminated and there are instance where the person would be taken to court for actually tricking and doing any cunning things or ways because they already sign an agreement for such type of thing I think , they won't cover such type of risk

 

[sincerem]

It will spread positivity , many would actually like to be like those honest customers so that they can also benefit from from the said reward , but it seems most insurance companies are not considering that they are only more focused on profit alone and the promotion pattern of their business to get more customers and demands

They are looking for long term business profitability, that's why they'll not consider this fine idea you brought up here. Insurance company are simply looking for only something that is benefitting to them alone. I've not heard them offering this kind of yearly bonus to their honest customers before. If they do, it will be worthwhile.

 

[Wisdom01]

This one I don't know about bro. Maybe they do it to their customers yearly to encourage them do more. But the bonus will be token, if they'll be doing it. For me it will be ideal if insurance company come up with this kind of idea to reward their esteem customers who are transparent with them without cheating like others who tried cheating.

It will spread positivity , many would actually like to be like those honest customers so that they can also benefit from from the said reward , but it seems most insurance companies are not considering that they are only more focused on profit alone and the promotion pattern of their business to get more customers and demands

 

[sincerem]

I think there might be some companies that do reward their loyal and honest customers every festive period , and I am sure that some insurance companies might also be doing such , because the ones that are honest deserves praise to make the bad ones consider and make a change too that would be helpful

This one I don't know about bro. Maybe they do it to their customers yearly to encourage them do more. But the bonus will be token, if they'll be doing it. For me it will be ideal if insurance company come up with this kind of idea to reward their esteem customers who are transparent with them without cheating like others who tried cheating.

 

[Wisdom01]

That's why we ought to maintain our integrity and never go contrary to that. Maintaining our integrity is the best, cos insurance will be rewarding to us when we don't cheat. Cheaters always got caught at some point, that's why I prefer being sincere when ever it comes to being truthful and direct. Not lying to gain rewards is the best, cos your reward being honest comes in bounty.

I think there might be some companies that do reward their loyal and honest customers every festive period , and I am sure that some insurance companies might also be doing such , because the ones that are honest deserves praise to make the bad ones consider and make a change too that would be helpful

 

[Alexandoy]

Until now I am still not convinced about the insurance because based on my computation the amount of money that I will receive that is based on the insurance policy has a small value because that would be 20 years from now. The only advantage is when you die. But once you are delayed by one month in the premium then your policy is not valid.

 

[sincerem]

Yeah if they end up trying to trick pthe insurance company , they would be the ones to definitely suffer the consequences , because the insurance company would catch them and obviously place them in jail , everything is laid down in their terms and conditions to prevent breach of trust and other factors

That's why we ought to maintain our integrity and never go contrary to that. Maintaining our integrity is the best, cos insurance will be rewarding to us when we don't cheat. Cheaters always got caught at some point, that's why I prefer being sincere when ever it comes to being truthful and direct. Not lying to gain rewards is the best, cos your reward being honest comes in bounty.

 

[Wisdom01]

Their are still those having dubious lifestyle in them. No matter the signature they put on the agreement they'll return to duping the insurance company in order to claim fast benefits. But we know things doesn't work out as they plan cos insurance have already made sure things go inline with their model. They'll checkmate the incident with advance tech to get the result of what happened.

Yeah if they end up trying to trick pthe insurance company , they would be the ones to definitely suffer the consequences , because the insurance company would catch them and obviously place them in jail , everything is laid down in their terms and conditions to prevent breach of trust and other factors

 

[sincerem]

Yeah exactly they also know how much it would cost them if they cover the risk ,so in order to play safe , they would check things very well and they have specialised people that would do the investigation job properly and identify the faults , it's like they sign the agreement into law and there would be law to make sure there is no fraudulent pratices

Their are still those having dubious lifestyle in them. No matter the signature they put on the agreement they'll return to duping the insurance company in order to claim fast benefits. But we know things doesn't work out as they plan cos insurance have already made sure things go inline with their model. They'll checkmate the incident with advance tech to get the result of what happened.

 

[Jamoflondon]

I think this information is very helpful and it helps to know more about insurance and what anyone interested in insurance should know about it. I really appreciate the fact that you took out your precious time to share all these valuable information with us even though I am not really interested in getting one

 

[Wisdom01]

Yes, when the insurance company finds out that the insured is cunning in nature, and the damages he or she claims to have been damaged happened out of cunning, the immediately terminate the agreement and the insured forfeits the benefit cos he or she is fraudulent. Before insurance accepts to pay for any damages they've studied everything that took place and got satisfied.

Yeah exactly they also know how much it would cost them if they cover the risk ,so in order to play safe , they would check things very well and they have specialised people that would do the investigation job properly and identify the faults , it's like they sign the agreement into law and there would be law to make sure there is no fraudulent pratices

 

[sincerem]

Insurance policy needs to be studied well before buying one .most of the insurance company hide things and do not divulge the necessary information. I have witnessed one and I was disappointed later when I witnessed that the process wasn't what the insurance consultant told me. It is better you demand for the coverage in black and white.

Laughs, how is it possible to demand coverage in black and white?

Provided your policy meet the demands of the agreement you signed up with the insurance company surely you'll get compensated and their is no much talk between you and the insurance company. And again you must not cheat, if you cheat and get caught, you'll not have any benefit the benefits will be revoked.

 

[Lens1000]

Insurance policy needs to be studied well before buying one .most of the insurance company hide things and do not divulge the necessary information. I have witnessed one and I was disappointed later when I witnessed that the process wasn't what the insurance consultant told me. It is better you demand for the coverage in black and white.

 

[sincerem]

Yeah it will be terminated and there are instance where the person would be taken to court for actually tricking and doing any cunning things or ways because they already sign an agreement for such type of thing I think , they won't cover such type of risk

Yes, when the insurance company finds out that the insured is cunning in nature, and the damages he or she claims to have been damaged happened out of cunning, the immediately terminate the agreement and the insured forfeits the benefit cos he or she is fraudulent. Before insurance accepts to pay for any damages they've studied everything that took place and got satisfied.

 

[sincerem]

Let's not forget that everything that has merits also comes with demerits, no matter how beneficial it might be to the people of the world.

WHAT ARE THE PROS AND CONS IN INSURANCE?

Here we'll be listing the pros and coins involved in insurance so everyone will be wary about it, especially for those who never invested into insurance.

PROS OF INSURANCE

* Insurance provides economic and financial protection to the insurance premium policy seeker or insurer.

* Insurance shares the risk with the insurer; with the way uncertainty occurs in our daily life, insurance covers some of the risk, by sharing our risk when we are contracted to them, by providing stimulus packages to the affected insurer base on the policy plan he or she opted for.

* keeps the standard of living balanced; with insurance you can get financial assistance when you're suffering financial loss, due to unfortunate financial loss in your business, and xD.

* Insurance relieves the pressure of unbearable loss; This is one of the benefits of life insurance. When you lose a love one, you'll get supported by insurance company provided the person you lost is included in the premium policy.


* Provides grants for loans; Those who are insured by insurance company are entitled to loan grants provided the loan they're requesting falls in line with the policy agreement.

* Serve as a means of employment; with insurance, people have started owning their own insurance company, knowing too well about the benefits of owning an insurance company enterprise.

THE CONS OF INSURANCE

* Terms and conditions apply: remember not all losses are covered by insurance. They only attend to losses that falls inline within the policy agreement, and nothing more. That's why you need to read first the terms before continuing.

* long legal proceedings; it takes a legal process and time, before the insurer can get his or hands with the benefits stated in the premium policy.

* Red flag; remember that not all insurance agency are legit, their are many that are fraudulent in nature. They just want your money and run away without doing the needful, those ones are red flagged, always seek an expert review before seeking any insurance policy premium.


* It is expensive; Some premium policy prices with lots of benefits are simply beyond what the poor can afford, even if you're paying in installment, you might not get to the finishing point of your required payment. That's one of the demerits of insurance, it isn't for the poor to go into.

* Insurance not for everyone; Insurance premium policy like ' Life and ' health insurance isn't for the old or unhealthy people, cos they are prone to risk of untimely death, before the policy even mature. And insurance company view it as risk to their company, which might lead to their own financial crisis.


* It raises crime: We understand that insurance shares our risk with us, and provide coverage for the losses we incurred when it is within the contract terms. Some persons takes advantage to benefit from this policies before the contract matures by causing accidents to themselves, and other crimes to themselves in order to claim the reward stated in the premium policy they opted for. We know its a major demerit to the insurance company, which makes them lose financially as well.

 

[sincerem]

Am sure the insurance company would do all they could to get more details , of the person and make sure the person put up a transparency deal with the company , they don't want to run into debt too , so they won't allow anything like trick that might actually just want to happen

Yes, that's why they have team that always checkmate on every damages in which the insured accrued. They make deep review, conduct surveys in order to make sure you aren't tricking them. If they find out that such person who is in agreement with them over an insurance policy is tricking with genuine facts. Surely the contract will be terminated with immediate effect and the insured loses.

 

[Wisdom01]

Yes, when the insurer tries to trick the insurance company by taking laws into his or her hand, like causing accidents or other damages to him or herself. Their is every chance of the insurance company to find out such incident and sue the one who is found wrong doing. That's why we need to work with terms and conditions outlined by insurance, and be transparent as well.

Am sure the insurance company would do all they could to get more details , of the person and make sure the person put up a transparency deal with the company , they don't want to run into debt too , so they won't allow anything like trick that might actually just want to happen

 

[sincerem]

It is no longer news that insurance covers are going to protect you about from unforeseen events that will make sure really harm you. It is equally important that you should only invest in insurance platforms that you think you need. What I am saying in essence is that if you are a purely online worker you do not have any need to invest in pandemic insurance.

Yes, if you're online source of income comes only from the business you do online, then their is no need going into pandemic insurance policy plan. It will be a waste of funds, cos the pandemic isn't affecting online business since they aren't halted in any way through restrictions. They are operating fine, and things are moving well for those online businesses.

 

[Setho]

It is no longer news that insurance covers are going to protect you about from unforeseen events that will make sure really harm you. It is equally important that you should only invest in insurance platforms that you think you need. What I am saying in essence is that if you are a purely online worker you do not have any need to invest in pandemic insurance.

 

[sincerem]

Yeah this are exactly the things to follow , I think in their terms too the person must not try to trick or perform any illegal transaction with the insurance company because the person might be arrested at the end of the day or even sued to court for such thing too

Yes, when the insurer tries to trick the insurance company by taking laws into his or her hand, like causing accidents or other damages to him or herself. Their is every chance of the insurance company to find out such incident and sue the one who is found wrong doing. That's why we need to work with terms and conditions outlined by insurance, and be transparent as well.