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Chuks Udo Okonta
Do you know that uncomplimentary remarks you make on insurance put other potential insurance buyers at risks?
When you spread wrong beliefs that insurance companies don’t pay claims, you raise disciples that would refrain from insurance and resort to self protection which would amount to spending from their savings.
Self insurance has been observed to be dangerous as it can lead to total loss and poverty.
Dangers of uncomplimentary remarks
* Risk exposure
Uncomplimentary remarks on insurance expose potential insurance buyers to risks which often times are beyond their financial capacity. This can lead to loss of lives and properties.
* Self insurance
Uncomplimentary remarks on insurance remains one of the causes of self insurance as deceived individuals resort to holding their risk as against passing them to professionals.
Uncomplimentary remarks on insurance is one reason responsible for most people depending on family members and friends whenever they suffer mishap. The problem which would have been handled by insurance operators are placed on innocent individuals to solve.
* Economic waste
Uncomplimentary remarks on insurance make government spend on public risks which ought to be catered by insurance and rob the economy funds which would have been used for relevant projects.
* Revenue loss
Uncomplimentary remarks on insurance brings about loss of revenue to insurance companies as only few risks are insured and on government loss of revenue that ought to come from tax.
Uncomplimentary remarks on insurance retard insurance growth, thereby barring insurance firms from engaging more professionals.
The negative effects of uncomplimentary remarks on insurance to the economy and lives are enormous and should be discouraged.
Refrain from giving unsubstantiated remarks on insurance, especially the wrong assertion that insurance companies don’t pay claims.
Insurance companies pay billions of claims yearly to policyholders, if you have a genuine claim and an erring insurer is denying you the claim, report to the regulator for a redress.