There are many insurance
companies out there with different types of schemes for people. Main purpose of
insurance companies is to get investment from clients, which is in the form of
regular payment and they are given some scheme.
Tenure of such schemes is
long and people have to pay money on a regular basis. Such insurance companies
are providing security for accidents and theft and other types of mishaps. There
is life insurance policy in which the policy holder is able to get monetary
benefits for the family when he is dead.
Many people think that the
process of insurance companies is very complex and they try to verify each
claim and if they are not satisfied with the proof then they are not going to
release the payment. In such cases even if the claiming person is right in his
claim however he is not able to give reliable proof to the company then the
investment is lost and no benefits are obtained.
Due to such cases the trust
of people is decreasing on insurance companies and they are not giving them
money as in case of loss if the insurance company is not satisfied with the
proof then all the investment will be lost.
People can try to dodge the
insurance company in order to get benefits by creating fake stories and
insurance companies can dodge people by rejecting the claims. However in theory
this process is simple as the person gives payment in premium in order to have
some security and monetary returns in case of mishap or accident. In practice
it is very hard to get the results when mishaps occur.
Clients can do fraud with
insurance company so that they can get monetary benefits and insurance company
can do fraud with clients in order to refuse the payment and take the entire
invested amount.
There are good and bad
people all over the world. It is important to use fair policy and rules and
regulations in order to remain safe from problems. Those who are using fake
methods for making money and using short cuts are not able to get long term
benefits. Short cuts can give some benefits but in the long run these are
harmful and users of such illegal methods are going to suffer with problems.
In case of car insurance the
insurance company takes responsibility for all types of car accidents and the
damages are paid by the company. Different terms are told to the client at the
time of taking the insurance policy and if these terms are met then the client
is able to get monetary support in case of car accident.
However if those terms are
not met then the client is not able to get monetary support in case of car
accident. Many people are not willing to invest in insurance policies as these
have long terms of payment.
In case of life insurance it
is important to make investment for many years and if the company is a fraud
then in the end there will be no payment. Many insurance companies are in
business so it is important to deal with a reliable company and also use legal
ways so that the claims can be verified and money can be received when it is
due.
