Tidbits: Of insurance and human nature

Yesterday. A person came asking for health insurance. Asked for high sum assured. Further questioning revealed his wife has just been diagnosed with cancer. I told him cancer won’t be covered. He gave a thought, decided it would be worthless without cancer coverage.

He then asked about life insurance. For wife. I said you’ll need to declare the disease. There’ll be a medical checkup etc. He said what comes without a medical checkup. I told him I should not advise him such, but PMJJBY is the only thing that doesn’t do medical checkups. He said, given the recent diagnosis and the mental shock it gave, it would be difficult to get his wife sign the forms. Too much trouble for two lacs.

He then gave a pause. Said, “it’d be a different thing if it were 20 lacs.”

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