insurance withdarw

[pradeepsu]

why would I sign an agreement if I'm not allowed to peruse said agreement unless I agree to it first? That doesn't make any sense

Then Don't sign,

No one is pushing you or forcing to get the product for you. it is your choice to take insurance or have self insurance. I mentioned the options available for a person who is not happy about the product they have received.

 

[Hyaenidae]

Then Don't sign,

No one is pushing you or forcing to get the product for you. it is your choice to take insurance or have self insurance. I mentioned the options available for a person who is not happy about the product they have received.

Yeah I for sure won’t

I'm just pointing out how absurd health insurance is in Sri Lanka - the whole setup feels like a scam from the very beginning, how can anyone in their right mind trust them with their healthcare expenses?

 

[pradeepsu]

Yeah I for sure won’t

I'm just pointing out how absurd health insurance is in Sri Lanka - the whole setup feels like a scam from the very beginning, how can anyone in their right mind trust them with their healthcare expenses?

Not agree! , If is an scam or like a scam, you have the right & opportunity to report to governing authorities, initiate litigation and so on, and eventually shut it down. . Just because you think it is like a scam, it won't categorized as a Scam. It is just your point of view (POV). It is perfectly fine to have your own beliefs, POV's and express your viewes, and stay away from such. At the same time if your Pov, isn't aligning with the respective companies / organizations or their business models, they simply don't care your individual requirement. They won't change their business model just for you, unless it is so serious for them to consider for change.

In other hand, you are making a serious allegation to the community, who have insurance covers in place as people who are "not in their right minds". Which means, you think you are right and others are wrong. This is so wrong my friend. People have their own beliefs, own Povs and own requirements. Everyone doesnt like to be you.

I urge you to contact the IRCSL, CBSL and obtain statistical data and do your own analysis, on how many Life policies are issued, how many policies have paid the maturaties, how many have paid the claims, and industry data. this will help you to understand.

Perhaps you do not undersant what these policies are for, the rights of a policy holder, the protection granted by regulation to the consumer (policy holder), check this areas then make your statement.

In the other hand, have you obtained a loan ? credit card ? opened a bank account ? have you been given a document / form to sign, which has terms and conditions, Do you take the paper home and get back to bank on next day, i want this to be changed otherwise I am not taking your loan ? will the bank change it? think.

You are using softwares, operating systems, services, gmail etc. all come with certain privacy policies, terms and conditions etc and end of the day there is a check box to tick to mark " i have read and accept" if you decline, will you be able to use it ? no,

Similar concept dude.

 

[JokerFan]

up

 

[Hyaenidae]

Not agree! , If is an scam or like a scam, you have the right & opportunity to report to governing authorities, initiate litigation and so on, and eventually shut it down. . Just because you think it is like a scam, it won't categorized as a Scam. It is just your point of view (POV). It is perfectly fine to have your own beliefs, POV's and express your viewes, and stay away from such. At the same time if your Pov, isn't aligning with the respective companies / organizations or their business models, they simply don't care your individual requirement. They won't change their business model just for you, unless it is so serious for them to consider for change.

It's no surprise then why the health insurance industry in Sri Lanka is struggling, I doubt even 10% of the population has coverage

In other hand, you are making a serious allegation to the community, who have insurance covers in place as people who are "not in their right minds". Which means, you think you are right and others are wrong. This is so wrong my friend. People have their own beliefs, own Povs and own requirements. Everyone doesnt like to be you.

I urge you to contact the IRCSL, CBSL and obtain statistical data and do your own analysis, on how many Life policies are issued, how many policies have paid the maturaties, how many have paid the claims, and industry data. this will help you to understand.

Perhaps you do not undersant what these policies are for, the rights of a policy holder, the protection granted by regulation to the consumer (policy holder), check this areas then make your statement.

Ah yeah, go in blind into a binding agreement because "pROtecTIoN GraNTed bY rEGulaTion"

Doesn't sound like a scam at all

In the other hand, have you obtained a loan ? credit card ? opened a bank account ? have you been given a document / form to sign, which has terms and conditions, Do you take the paper home and get back to bank on next day, i want this to be changed otherwise I am not taking your loan ? will the bank change it? think.

The key difference is that I get to read the terms and conditions BEFORE agreeing when it comes to loans credit cards and bank accounts, unlike health insurance policies which force me to agree and pay before even reading the policy

You are using softwares, operating systems, services, gmail etc. all come with certain privacy policies, terms and conditions etc and end of the day there is a check box to tick to mark " i have read and accept" if you decline, will you be able to use it ? no,

Similar concept dude.

Again, I'm given the option to read all the terms and conditions BEFORE checking the tick box I'm not required to check the tick box in order to read the terms and conditions so no, it's not in any way or form "similar"

 

[pradeepsu]

It's no surprise then why the health insurance industry in Sri Lanka is struggling, I doubt even 10% of the population has coverage

Ah yeah, go in blind into a binding agreement because "pROtecTIoN GraNTed bY rEGulaTion"

Doesn't sound like a scam at all



The key difference is that I get to read the terms and conditions BEFORE agreeing when it comes to loans credit cards and bank accounts, unlike health insurance policies which force me to agree and pay before even reading the policy



Again, I'm given the option to read all the terms and conditions BEFORE checking the tick box I'm not required to check the tick box in order to read the terms and conditions so no, it's not in any way or form "similar"

I doubt even 10% of the population has coverage - this is correct. in SL, market penetration is lower in Life Segment.

Many factors affecting on it, few reasons are as follows

- Availability of a disposable income
- Lack of Understanding why need a cover, and what cover is needed to cover the requirement
Also, need to understand that, the person who has started this thread talks about something on life insurance , not a medical insurance.

When it come Medical insurance, it is something falls within General Insurance section, like come to Motor Insurance, the market penetration is higher, since by Law it is mandated to have a minimum level of motor insurance coverage to have a motor vehicle running on road . But, when it come to comprehensive cover, the market experiences a draw back recently. This is mainly due to lack of disposable income of people and increase in premiums .

Has any one asked you to go into an agreement blindly ? or have someone forced you to sign a contract before hand without sharing the terms ( quotation slip) ? Hell No, Your friend / agent might be fooling you. No need to go into a blind document without knowing the terms.

You will be presented Quotation by the insurance company , with terms of cover in a simpler document. The quotation which refers certain points to the detailed specification (policy book, where each term is explained / described in detailed.) , you are signing your proposal form, according to the terms received via quotation. then you are receiving the policy schedule which has your details included to the policy document, in relevant places, with detailed explanations on what that and this means to. the Insured has 30 Days from date of cover to read this document and understand whether it is up to his / her satisfactory. If not satisfactory then , a full refund can be request.

Good luck !

 

[Hyaenidae]

Has any one asked you to go into an agreement blindly ? or have someone forced you to sign a contract before hand without sharing the terms ( quotation slip) ? Hell No, Your friend / agent might be fooling you. No need to go into a blind document without knowing the terms.

Yep. The policy won't be issued until I've agreed to its terms

You will be presented Quotation by the insurance company , with terms of cover in a simpler document. The quotation which refers certain points to the detailed specification (policy book, where each term is explained / described in detailed.) , you are signing your proposal form, according to the terms received via quotation. then you are receiving the policy schedule which has your details included to the policy document, in relevant places, with detailed explanations on what that and this means to. the Insured has 30 Days from date of cover to read this document and understand whether it is up to his / her satisfactory. If not satisfactory then , a full refund can be request.

The quotation doesn't specify the terms which are included in the actual policy.

It doesn't make sense why I'm forced to commit without seeing what I'm agreeing to in its entirety

 

[pradeepsu]

Yep. The policy won't be issued until I've agreed to its terms



The quotation doesn't specify the terms which are included in the actual policy.

It doesn't make sense why I'm forced to commit without seeing what I'm agreeing to in its entirety

For your question the answer is already given to you my friend. please read them again, again and again.

If you don't want, then don't take.

People who want they will take from whatever the place.

Wish you good luck again !

 

[Hyaenidae]

For your question the answer is already given to you my friend. please read them again, again and again.

If you don't want, then don't take.

People who want they will take from whatever the place.

Wish you good luck again !

It's not a question

Making people agree to unseen terms is undeniably a scam.

there's no arguing that

 

[snm1990]

bump