Impact of Insurance companies on the layman

Such a risk we take around all in the name of insurance here in Ghana and we end up having nothing or just a peanut as our take home at the end of wasting years on keeping our monies with these insurance companies. The painful part we face here is that we have nothing at all in the long run. All you see on people's faces are just pains and sadness that tend to bring them down more than they had.

Insurance companies at our end here literally tend to add no value at all to the layman on the streets. It is only the companies with the name that enjoys the benefits of these insurance companies, and I don’t know why it is/has been so over time. Is it the layman who does not understand the terms of these companies or it is the companies that rather lie to these people?

From my little checks, I have come to understand that the sword to these misfortunes has different angles to it. But the majority of these issues are from the various reps of these companies who put innocent souls into these troubles. They move around telling the layman just a fraction of the various policies just to make the number being given to them by their bosses cover.

In the end, all they are working towards is to enrol people just for enrolling sake and not necessarily thinking about what will cause these people in the future. I have seen many being told to start a policy with an amount that will not demand any additional addons but immediately they have paid over some time these companies use all means to either add up to liquidate them from the monies they have with them.

I saw one man sack staff of a certain insurance group from his office, just because of his experience with an insurance company. They nearly made him lose all he had and by grace, he was able to start all over again to where he is now. It is so disheartening to lie off a policy and when the time is up for you to claim your benefits, a whole different story is being told to you.