General insurance Insurance is helpful or harmful?

MOSIUR

Active member
Insurance runs two ways!
There are several insurance companies that are offering highly for the customers. Those who would like to get engaged themselves in their companies, will be greatly benefited. They give various types of commitments but later on they do not fulfill their words.

There are so many good words about insurance from first to last. The very insurance like life insurance is really helpful in one's life. It can save one's life very easily financially. Health insurance saves the sides of health wisely. Business insurance takes the sides of the business effectively. House insurance makes one happy through the opportunities of insurance companies. In the same manner, companies also serve the auto insurance receivers from their angles.

On the other hand, there are many negative or bad words about insurance. After registering, many terms and conditions are emphasized on the members. Misconducts, ill-words, and quarrels are often seen to configure in the companies. Many officials of the companies run away taking money of the general people. As a result, dreams do not come true! What are your thoughts about it?
 

Mika

VIP Contributor
The points you have mentioned about insurance being harmful are not true. No legit company will vanish with people's money. If you see some people being cheated by an instance company, that's because the insurance company is not legal. However, before you buy the insurance you need to read the terms.
 

Wisdom01

Valued Contributor
Before registering with any insurance and after buying any premium ,you and the insurance company have signed a deal and they must just stick to the deal , if they are a legit insurance company , because if they don't follow the deal you could sue the company for what they did
 

kayode10

VIP Contributor
In my own perspective insurance is good to some extent. Insurance got you covered in case of accident or any other unforeseen circumstances on your property. A friend of mine but his car in front of his house and he has been doing this for a long time. there was a day I discovered that you could not find his car at the place where you park it. You reported and got another by the insurance company.
 

Nite

Valued Contributor
Those who run away taking people's money are simply frauds, and people should at best avoid them. It's very important to do a good amount of research before purchasing any insurance plan. An uncertain future has always haunted a person, and finding the right insurance that'll help you in solving your problems is very important.
 

btaliat

VIP Contributor
I love the fact that you hammered on both the negative and positive sides of insurance. The actual nature of insurance at times will be determined by the insured person. For instance, someone that has benefited from it before we always claim that insurance is the best unlike who have not benefited from it.
 

Chibson

VIP Contributor
I don't think what you have dated is 100% true but actually you have a point. insurance companies are very helpful in so many ways to individuals because it provides protection and coverage for them. Actually a reputable insurance company will never run away with people's money because they are licensed.
 

btaliat

VIP Contributor
Just like I said before. I know of a friend who has been with an insurance company under auto insurance for almost two years and he has never been a beneficial of this policy because nothing has wrong with his car. To him, insurance policy is a waste of money
 

Good luck

Verified member
To be frank and candid.i insurance policy has been a lot of benefits to human being.it has helped in a lot of ways..for instance someone engaged in a life policy of one hundred and fifty thousand naira per year. The fellow pay the premium in the first year then died in the second year but the family of the deceased was given five million naira.
 

Abigael

Valued Contributor
I think insurance is still more beneficial than harmful despite those negative things that you have mentioned. The issue of companies running away with people's money is so unfortunate. That is why it us important to choose an insurance company that has solid foundations and is fully trusted by the people in a country.
 

Mandy96

Valued Contributor
There are good and bad sides to everything in life. If there could be an advantage to insurance then there must surely be a disadvantage to it. One of the merits is what it covers and the demerit is the fact that one has to pay for premium payment continuously as long as the contract deal still valid
 

Mataracy

VIP Contributor
Thank you for the proper explanations you gave and it very helpful. Insurance is very helpful and good in the sense the it use to help in protecting life and property. When some body insured his or her life even before death pme can be benefiting from the premium contributed.
 

Wisdom01

Valued Contributor
There are good and bad sides to everything in life. If there could be an advantage to insurance then there must surely be a disadvantage to it. One of the merits is what it covers and the demerit is the fact that one has to pay for premium payment continuously as long as the contract deal still valid
To enjoy the benefit the person needs to continue to pay the premium or there might even be termination of the contract if the rules are not well followed , they also need profit and that's the reason people are asked or told to pay the necessary premium as at well due ,so that incase there is issue they would cover it
 
Top