Growing up as a kid if someone would have told me that I would pay a company that employs people I never get to see money “just in case” something happened, I would have thought they were crazy. When you think about it that is what insurance is. It is an investment into the uncertainty of tomorrow. It provides security just in case.
When I became acquainted with the just in case concept of life insurance, my initial thought was why am I paying these people for something that might happen, and if nothing happens by the end of the allotted period will I get my money back? The truth is there are certain life insurance policies that have cash value and there are certain automobile insurance policies that will pay cash rewards for safe driving, but that is not what I had in mind. I wanted to know who were these people and why do they want my money.
It only got worse. I then found out if something did happen, the company paid me the agreed amount, but then they would raise my rates. Let’s see, you charge me for something that might happen, but probably wouldn’t, and you get mad if it does and you raise my rates. Something is terribly wrong here.
Really, the truth is without reputable and reliable insurance companies and the trusting insurance agents that represent them, the economy would be in shambles, property loss would be irreversible, and families would be left struggling to replace the primary provider income if they were to die.
I believe that consumers are becoming more intelligent when it comes to the world of insurance. Not only are they becoming more aware of the necessity involved, but they are also becoming more intelligent in making their purchasing decisions. Not all insurance companies are created equal. Reputation and dependability are strong consumer considerations when making buying decisions concerning insurance, whether you are speaking of life insurance, auto insurance, home insurance or health insurance, it all requires proper education and serious consideration on the part of the consumer.
The internet and smart technologies have made it much easier for consumers to shop for insurance programs and policies that meet their specific needs. What this means is that insurance companies have been forced to tailor programs and packages in a manner that they meet the unique needs of their diverse customer base.
I remember a time when the insurance salesman came by your home to introduce their products and should you choose to purchase those products, that same salesman would be back every month to collect the premium. The personal engagement concept of business has given way to mass distribution channels and electronic technology now. I kind of miss those days of coming up with explanations of why your mother, who is hiding behind the door, says that she is not home. I was never really good at that. You should have seen the look on my mother’s face when I told the salesman, that my mother said she is not home.
As we have entered into this high speed age, where everything is a mouse click or a key stroke away, consumers are becoming smarter and businesses are having to change their approach. The insurance industry is no different.
By the way, I am still waiting on my first insurance refund.
