Not buying insurance but buying danger!
I was waiting for my friend for lunch at the customer service centre of 1 of the big insurers on Monday when I overheard an angry policy holder complaining loudly. I was not trying to eavesdrop but that angry uncle was just making his feelings known not just to the customer service officer but to the whole room of customers as well. He surely isn’t doing any good publicity for this Insurer. But what he said could be true for many out there.
He was saying loudly in Mandarin: “不是买保险，是买危险！” ( I am not buying insurance but buying danger!). Not knowing what you have bought may be “dangerous” for you.
You may have the impression that you are well covered when you are in fact only covered under accident-related situations. Or you may be getting a policy thinking that it will cover you for life but the actual fact is that the policy migh lapse in the future.
It takes effort to understand what is covered and what is not. Be prepared to put in that effort to listen to you adviser when you get your next policy.
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