aaron p
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If the insurance companies weren't profitable, they wouldn't be around to help out families in their time of need. If they didn't do their due diligence to investigate a claim before paying out, the system would be abused and the costs would sky-rocket for those who are just scraping to get by.
I'm sorry that you feel there has been an unnecessary delay, but hopefully you understand it is better for everyone this way. |
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himanshu dang
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some companies are fair and some are not nut generally they give claims but it can be delayed ..its just a matter of time ..u just need patience............. |
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May
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You can go to the department of insurance for your state and see what kind of history the companies have. That will help you determine which are good. |
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Phil
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Define 'fair'. Insurance contracts provide for payment of specific monies based on values. Usually people believe that their property is worth more than it truly is. (How much would your used kitchen table get at auction?)
As for injury claims, what is a sore neck worth? No amount of money makes the pain go away. What is a terrible pain to one person is minor to another. Does that mean that their injury is worth more? |
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jugs_ja
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generally insurance companies have due system of calculation of claim. that system is of course too cumbersome thats why we feel that insurance companies do unjust, but rater all they do is written there forms which we do not read at all.
so don't think that they are unjust. |
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fawkesphoenix
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Unfortunately, insurance claims often require extensive investigation and paperwork. Lots of times the insurance company's definition of fast is very different from yours! But if they advertise fast claims service, it may be the case that they are above the industry standard, or perhaps you were one of the unlucky few who had select circumstances.
I know of plenty of insurance companies that strive to pay exactly what they owe, and do so with a great deal of integrity. It is so important that the insured individual understands the terms of their contract- nobody is going to pay your claim if you have failed to purchase yourself sufficient coverage! And if you have stumbled upon a company that isn't living up to the promises of your contract, there are legal avenues available to you. |
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Gambit
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The insurer has no social commitment to the insured. The only commitment they have is contractual, the same as any other company you do business with. They are also not charities, of course profit is their ultimate concern. Once again this is the same as any other company you do business with. Do you think Microsoft or General Motors isn't out to make a buck? If there is a reason in the contract that states they can deny a claim, then of course they will deny it. However they cannot do anything that cannot be supported by the contract. If they do then they will be sued and they will lose.
The only problem I see is your lack of understanding of how business, or for that matter fundamental capitalism, works and/or your fluffy bunny, rose colored view of how we should all be nice to eachother. |
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Deva
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you throwed a question. as well as answered as you like to receive.
India the insurance claim settlement rate is 90% compared to US only55% is there.
If we provide all the facts in ture manner, settlement will not be denied. ( Salay, AGE, health summary, habbit of smoking , drinking etc)
If we perform correctly then the settlement will not be denied.
in chennai last month one person took accident policy. and commit suicide by dashing in a lorry. his pocket is having a letter to direct his parent to claim this insurance as he dont want to live. How do you want the corporate to react in this case? |
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murrayc
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Always remember they are a business and it's their duty to make money. Deny claims, payout the least they have to, etc. |
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David W
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You really expect to find a fair Insurance Company? Dream on, they're a bunch of licensed bandits! |
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Lynn of Glen Allen
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Not if they can get away with not being so....Lynn |
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