This is true! There are people who simply just hate insurance (except for car insurance because this is made compulsory). And for these people, no matter how much you persuade, how many articles, how many real life incidents you can share to showcase the importance of getting insurance… they are just not interested!
I have personally came across some of them and through a few series of conversations, I have managed to compile a few suggestions on why they hate insurance… I will also be giving some of my opinions on how to resolve this hatred.
Reason #1: I Can’t Claim Anything From The Insurance Plans That I Have Bought
This is one top reason why people just hate insurance, they pay and pay for so many years of premium, and till one fine day that they can make a claim, it’s either that their claim is invalid or being rejected.
Reason #2: I Lost Money Because Of My Insurance Plans
This is very typical especially for Investment-Linked Plans and Term Insurance. This is also typical for any early withdrawal/surrender of insurance plans (e.g. whole life insurance, endowment plans).
Reason #3: I Buy So Much Insurance Plans Yet Nobody Is There To Take Care Of Them
Because of the high turnover rate in the insurance industry, the chances of people having their insurance plans become “orphaned” literally became higher as well.
That’s why when there’s some form of urgency, they can only depend on themselves and do not know what they can do next. And the two reasons above will apply as well.
*If you have other personal reasons for you to hate insurance, I hope you will share it with me with your comments below.
Personal Opinion To Reason #1