Insurance companies are becoming something of a burden on ordinary people. They have slowly but surely gotten a way to systematically eat into the average Joe’s pocket. They are doing so with amazing regularity too.
The concept of insurance itself is admirable. The fact that people get to pay someone to give them a lot of financial support if something goes wrong is brilliant. It is a noble idea and whoever came up with it deserves a cookie. It is a beautiful thing to know that when someone is driving and they get hit by someone else, all the costs of the repairs will be covered and completely paid for by the erring driver even if he or she does not have the money to immediately pay for the repairs. The comforting thought that perhaps a wife and her children will not lack financially if anything does happen to a husband is amazing and soothing. Summarily speaking, the concept of insurance should not be condemned or out-rightly thrown in the bin.
The perks notwithstanding, a simple question should be asked ‘Is it always needful?’ Is it compulsory to pay for health insurance even if the chances point to the possibility one won’t fall sick or if they can afford the bills if they do fall sick? Now, the blame for mandating insurance should not always lie with the insurance companies on all counts and in all situations but it sure cannot be correct when they cash in on the desperation of people. Also, who is to say the insurance companies are not pulling background strings with the decision makers in society to make the process a must?
Another grouse with these corporations is the difficulty in getting them to pay out claims as and when due. They have little or no problems promising heaven and earth when they want someone to patronize them. When the claims are being made however, it is a different story altogether as it becomes simply obvious that they are more interested in avoiding the pay off if necessary and would sacrifice the driver’s comfort if they have to. It is difficult to argue against the fact that the executive officers of these corporations are out to make a profit. They are out to get as much financial windfall as they can and rightly so but at what expense? How can any CEO go to bed at night knowing a struggling mother has been swindled off a month’s income? How can a claims officer turn down paying out to a poor widow after her husband’s death and not have nightmares about it? How can it be right for anyone to take money off poor students for a health insurance for which the chances of them claiming are close to zero?
The insurance industry is here to stay and does not look like it’s going anywhere anytime soon but good changes can certainly be made. It can certainly be put in the right direction to make it look like what it was originally meant to be. The insurance companies can become less of a burden on the masses of the society.
By Olajide Jatto