Page 25 - Insurance Times July 2024

Insurance -

Phobia!!

Vazir Ahmed Khan
B.Com, LLM, BJ, AFII, Advocate
Hyderabad

Despite insurance companies housed in gigantic buildings, attractive offices, with active stop, with
good customer service people are afraid of taking insurance when an insurance agent purchase
them with high promises of payment of their claims when he insures.

Why people are afraid of taking Insur- tamasha which after showing many a feat took a lemon and
squeezed by his two fingers and extracted the entire juice
ance then he challenged the spectators to extract even a single
Despite insurance companies housed in gigantic buildings, drop but nobody had the courage to come forward, as the
attractive offices, with active stop, with good customer ser- strong man left no possibility of further drops lean chap came
vice people are afraid of taking insurance when an insur- forward accepting the challenge he took the piece of lemon
ance agent purchase them with high promises of payment and pressed it with ease and some more drops fell down.
of their claims when he insures. The galadier bowed down and said "oh great, sir You are
pehalwan of which place?" he said in reply " no, no I am an
My experience of 40 years both in field and administration income tax officer".
makes me now to give the following observations.
In a while another man stepped in and took the lemon fur-
Here is a small joke to start with why people are afraid of ther pressed it and a few more drops fell, it was surprising
insurance. A luminary said "Insurance people are Shylocks him and put same question about his identity. He simply said
to scissor the claim". A judge while awarding a claim said "I am insurance claim settler"
Insurance people are Lord they can pay any amount of claim
yet general people are allowed in getting their claim in the Certainly the insurance man has technique in settling the
event of claim. In this activity three types of people are claim to the minimum and that the agent promises of all
behind this promise one is agent and the other is claim set- claims after taking insurance , while the claim settler applies
tler and the third is unscrupulous client who wants more and the principle of "insurable interest" to reject the claim as the
more by aggravating the claim. claim is payable to the owner or one who has right to the
insurance. If it is rejected he checks up when insurance is done
I was talking of a joke. Their was a galadier leading a road in utmost good faith that is all the facts which were haphaz-

The Insurance Times July 2024 23