Category: 2. Disadvantage
-
Not for all People
It might be an issue for certain people that some insurance, such as life and health insurance, typically does not provide coverage for sick and elderly folks.
-
Fraud Agency
The market is filled with a variety of fraud agencies. People who choose to purchase Insurance before purchasing it must be capable of handling themselves and the issue or seek professional assistance when choosing insurance firms.
-
Long and Costly Legal Procedures
The legal process to receive a claim submitted by an individual may be drawn out. As a result, it occasionally may become problematic in an emergency. The cost of an insurance plan can frequently fluctuate based on the type of policy a person chooses as well as other considerations; occasionally, this cost may be higher…
-
Insurance Has Many Terms and Conditions
Insurance covers not all losses in a person’s life or business situation. Insurance plans’ terms and conditions give consumers financial assistance solely in accordance with those conditions. Therefore, one must carefully study and comprehend the terms and circumstances before purchasing any insurance.