Posts Tagged ‘racket’

Insurance: often a racket

July 31, 2011

Frankly, I must say that I feel insurance in India is often a racket with no accountability. When the premiums are being collected and the papers signed, all is gas and gaiters, but if the consumer suffers a loss and wants to claim insurance, it is incredible how the insurance companies try (usually successfully) to weasel out of the claim settlement.

Even their habit of delaying the settlement and making the consumer run around, results in a scenario where it doesn’t seem worth the trouble and hassle. Very often, the insurance companies quote something from the fine print to deny the claim. Corporate customers, of course, get their claims settled but the ordinary Tom, Dick and Hari…they wind up with a lot of hassle, and sometimes a claim settlement that is much less than the amount contracted for at the time of taking the insurance.

If you lose something worth, say, Rs.20,000, have paid the premiums, yet find that you have to go through intense amounts of paperwork and filing-in-triplicate-at-the-time-of-the-full-moon kind of conditions, and finally find that you are getting some 6K as settlement…. and get that cheque only after repeated reminders and a lapse of several months… wonder if it might not be better to do without insurance altogether.

I’m rich! I’m RICH!! YAHOO!!

May 25, 2007

And it’s Yahoo, now, which is giving it away; notice, they are distributing this largesse without even knowing my name, and not even bothering that I never participated in such a “promotional program”…how kind of them.


Dear Esteemed Winner,

We are pleased to inform you of the result of the YAHOO! International
Promotions Program held on the 16th of March 2007. Your e-mail address
attached to ticket number 883734657492-5319 with serial number
7263-267, batch number 8254297137 drew the lucky numbers
14-22-28-37-40-44 which consequently won in the 1st category,
you have therefore been approved for a lump sum pay out of
£500,000.00 (i.e Five Hundred Thousand United Kingdom Pounds)in cash credited to file REF:YAHOO6/315116127/27. This is from total prize money of US$20,400,000.00 shared among the seventeen international winners in this category.

Please note that this Promotional Programmes tagged “Thanks for
contributing to our financial Sucess” was sponsored and organized by
the Yahoo Corporation in view of the financial benefits YAHOO have
received from its numerous customers either through adverts, hosting and
personal emails.To file for your claims, please contact your claims
agent immediately, to begin your claims process:

44 Moorfields London EC2Y 9AL UNITED KINGDOM
Tel:(+44) 7031924017 (+44) 7031921214

You are to contact him with the following information: Your Full Names,
Your Contact Address, Your Telephone and Fax numbers, Occupation, Sex,
Age and Location.

Your Sincerely,
Mrs. Amelia Hunts


And why haven’t they asked me for my credit card no so that they can shovel in all this money into my account…?

Also note, “sucess”, “remmitance”…they are so economical with their consonants, but are willing to give me so much money.

Hmm, Mrs Amelia Hunts. I am sure she Hunts…diligently, for people who will respond to this!