How to make a man pay for something so that he feels he is getting it for free .

I always think insurance is a scam. And what a simple idea it is – ingenious really. In the event of a disaster, you are covered and the damage will be repaired instantly . Or so you think .

To begin with, insurance companies play on the fear of being caught with your pants down. Quite simply, if there is an emergency such as an illness, injury or disaster, you want someone to reassure you that the damage will be taken care of. Seamlessly, effortlessly.

But reality is always far from the truth.

Firstly, nothing is paid instantly.

1. In August 2025 , I was scammed on the phone and lost Rs 98202. The police have discovered the thief but have NOT returned my money which they claim is lying in their cupboard at Gamdevi Police Station and which they will only return after I make a legal complaint at the small causes court through THEIR official lawyer.
2. Having personally experienced a legal case drag on for several years and having spent more money than what was involved, I preferred to take the money via my Bank which has received the amount from the Insurance company in MY savings account. But despite several letters to the bank, it is NOT releasing the lien on the amount. So technically the Insurance company has NOT a honoured it’s commitment to insure me against digital fraud.
3. Neither the Bank nor the Insurance company is willing to look into the matter ( as legal language for shut up and get lost you pesky customer ) because the matter is decided by the RESERVE BANK OF INDIA.
4. Now we all know that the Government of India has far more pressing problems than to look into a small measly amount of a cranky old woman.
5. The latest Insurance incident pertains Health Insurance and my recent cataract surgery .
6. Obviously the cashless surgery option didn’t work for me since I preferred to go to a surgeon I knew rather than go to an empanelled hospital.
7. Since I am covered under two separate policies, I decided to use both. The first one took more than the specified 15 days after surgery to process. After processing papers for BOTH eyes, I am still waiting for the ORIGINAL papers in order to process the second policy.
8. Obviously, the insurance company couldn’t be bothered to speed up the process by which I could get the second one processed.

So can you see how this scam works ?

First you put the fear of God into the populace that it is only the Insurance Company Alone that looks after them in the event of a catastrophe.

So depending on your capacity to pay you have to enter into a contract to unfailingly pay a hefty premium year after year for years on end.

And then when you do need the insurance, the SMALL PRINT comes into play.

Even if you fulfill all the conditions to get a pay out, the next tactic comes into play : ask for “proof” or additional information, ONE AT A TIME so that automatically the time period for claiming the insurance lapses.

If by chance you manage to overcome this hurdle, the payout is delayed so by the time you actually receive it, it is time for the Next Disaster to Strike.

So isn’t it far better to invest in a regular Fixed deposit plan which you can encash when you need the money ?

Who knows?

Perhaps the Bank itself will have another mechanism whereby they diddle you of your own money .

Other things you didn’t know

1. A Third Party Accident claim will not be paid out to an injured or dead housewife, because her life has NO value since her accident/ death does not affect the economic condition of the family.
2. A divorced woman cannot add on her parents as dependents on a Health Insurance Policy .
3. A health insurance claim can be refused if the person has failed to mention a previous health condition even if it has no bearing on the current surgery. For instance if I claim insurance for a slipped disc , the claim could be refused because of my cataract surgery.

So once again, I feel it’s better to keep your money in a fixed deposit or mutual fund that you can encash when you need it rather than waste money in an Insurance plan which you may never ever use !