Insurance companies new tactics in getting clients
By jlamela
@jlamela (4898)
Philippines
July 8, 2010 7:21pm CST
I think insurance companies now are so desperate to get clients that they resort to tactics which can be called a little bit "scam" and "deception".
Here's what happen, my two friends receive a call from one insurance company telling them that they have a fully paid accidental insurance what they are going to do is claim the certificate of ownership on the said insurance company's office, when they ask who paid it since they did not apply, the man said maybe somebody paid it for them, I immediately rose from my chair upon hearing, "what??"
So I told them that it is purely deception, who on earth will paid it for them?when the global crisis is heating the horizon like bullets?so we went to the office of that insurance company and alas!the manager explained a very long explanation until I got bored listening and asked him what's suppose to be the ending of his explanation, so we listened a little bit more and the ending is---bunch of fees, charges and the monthly payment that my friends would give to the company. So that's it, maybe we should be vigilant with this kind of desperate tactics of insurance companies.
2 people like this
7 responses
@laydee (12798)
• Philippines
9 Jul 10
I know how you feel, my father was also deceived by that when he was contacted and told that there was a free accidental insurance under his name. But, it's not really purely scam because it was given for free as a motivation for the client to somehow get a plan under them.
Plus, an accident insurance is really cheap. It is only limited for one year.
2 people like this
@dorannmwin (36392)
• United States
12 Jul 10
I've never heard of one like this, but I've seen other things in the different insurance companies that borders on scams. The best example that I can think of is when I quit my job with benefits and went to a job that required a lot less stress but also didn't have benefits. I specificially applied for private insurance with a maternity rider and was given a quote for it. When I got my first bill of statement, the amount was for what I was quoted, but I later learned (following a miscarriage) that the maternity rider had not been included though I was paying for it.
1 person likes this
@jlamela (4898)
• Philippines
13 Jul 10
Hello Maam doran,
Oh that's a little bit disappointing. That's what I don't like in insurance and pension companies, lots of things not covered and most of those programs are vague to understand. In the Philippines, insurance companies are really selfish and arrogant. They will make everything just to get clients. That's why getting an insurance policy here is not really popular.
@faisai (1138)
• Hong Kong
9 Jul 10
For me, anytime I hear other people say about something free of charge or not as costly as it is supposed to be, I will become alert.
My believe is simple, everybody wants to make money. No exception. The question is how. So, if the offer you something cheaper than the cost, there got to be some reasons behind: either they are in desperate need of money or they are going to charge you more in the long run.
1 person likes this
@jlamela (4898)
• Philippines
13 Jul 10
Hello,
Yes it's true and that's what exactly happened to my friend. The company called her up about that free insurance policy and directed her to visit the office to claim her certificate only to find out that the company will require her to pay every month of more or less P1,000.00 so it's a bit deception.
@alaskanray (4636)
• United States
9 Jul 10
I believe that insurance companies are evil.
..right up there with the credit card companies. I have said many times that insurance is nothing more than legalized racketeering and it galls me that the government actually requires me to insure my car. Think about it...I have to pay every year (or month as the case may be) for something that I will more than likely never have to cash in on. Those insurance companies are making money hand over fist and they don't produce any actual product. It's like paying into a savings account that you will never be able to withdraw on till the day you die, just on the off chance that you "might" have an accident!
I would much rather be required to have an actual savings account balance that I could draw on for emergencies and collect interest on that savings account rather than keep paying into an insurance company, making someone else rich while I struggle just to survive.
LOL...Okay, okay, I'm off my soapbox now. 
..right up there with the credit card companies. I have said many times that insurance is nothing more than legalized racketeering and it galls me that the government actually requires me to insure my car. Think about it...I have to pay every year (or month as the case may be) for something that I will more than likely never have to cash in on. Those insurance companies are making money hand over fist and they don't produce any actual product. It's like paying into a savings account that you will never be able to withdraw on till the day you die, just on the off chance that you "might" have an accident!
I would much rather be required to have an actual savings account balance that I could draw on for emergencies and collect interest on that savings account rather than keep paying into an insurance company, making someone else rich while I struggle just to survive.
LOL...Okay, okay, I'm off my soapbox now. 1 person likes this
@jlamela (4898)
• Philippines
13 Jul 10
Hello alaskanray,
I totally agree with you, investing on insurance companies is like opening a saving account in a bank but the difference is, in an insurance company, we could never withdraw the money we invested anytime. Personally, I would rather invest the money in stock market rather than putting it in an insurance company, besides, some insurance companies cannot be trusted anymore because some of them are bankrupt already there is a good chance we can never get what we invested from them.
