Tips you should know before dealing with life insurance companies

 I still see the life insurance sector as one of the promising areas in which one can invest seriously and successfully at the present time, especially with fears dominating emerging and large markets as well, in addition to the severity of the difficult economic crises that push thousands of citizens to search for safe ways to secure their future. And to preserve their savings and protect their families, that is why the insurance sectors are active in this environment, and large numbers of people seek them.

Unfortunately, the situation of life insurance companies faces many problems related to the idea of insurance, and the logic of dealing with their customers, starting with the chase operations that do not stop before signing the insurance policy, through to deceptive promises and the ability to imagine that you will receive huge amounts of money, while you will only get On what you paid, a small profit margin will be added to it, once the legal term of the policy is completed, which is usually no less than 10 years.

In order to create a system of true awareness of the insurance culture in Egyptian society, let us develop a set of recommendations and solutions through which benefit can be maximized, whether for individuals or companies alike, without stopping at technical terms or marginal details, which prevent the spread of insurance culture in Egypt.

First: Insurance companies must strive to change their mental image in society, and abandon the old ideas that used to place them in an area where the customer feels that they are useless or that they are deceiving him to get his money.

Second: Customer service in life insurance companies is not good, and they suffer from dozens of problems, starting with communicating with customers and how to persuade them to buy documents, to ignoring them in sending account statements and the required transparency in clarifying their rights.

Third: - One of the most important mistakes of life insurance companies is the mistaken belief that current customers are not targets that must be preserved or subjected to persuasion and communication sessions from time to time. These customers are the company’s true wealth, and without them the company will not succeed in attracting new customers. Insurance depends directly on Personal communication and persuasion, and will not reach people through direct advertising or the use of celebrities in advertising.

Fourth: Terms and conditions, and administrative expenses, are concepts that strike the insurance industry to death and destroy it, to the point that the mental image among the majority of people has become that “liquidating an insurance policy” before its expiry will push you towards losing half of what you paid over the years, and this often happens in some cases.

Fifth: - Foreign companies that work in the field of life insurance in Egypt, despite their international reputation and reputation, the employees, administrators and customer service who work in them are still absent from the culture of insurance and its true components.

Sixth: If you ask a life insurance company employee for any service before signing the document, he will provide it to you willingly, such as asking for his private phone, his residential address, or even the favorite café he goes to, while after signing and moving from the ranks of potential clients to actual clients. No one will answer you, and you will wait on the hotline for long periods until you find someone to hear your request. Then everything will be complicated for you and you will feel that you do not have the right to obtain any data or information about the insurance policy.

Seventh: - With the beginning of school, insurance companies resort to a clever trick in private schools, where they obtain the students’ data and send them documents and papers home in order to sign them, and contact the parents to inform them that the offer has been made for them to enjoy unprecedented services, and that it is a golden opportunity that they must not miss. So beware of this.

Eighthly and finally: Do not accept the offers of life insurance companies before studying them carefully. You must be sure of the advantages and gains that you will obtain at the end of the policy. These companies will not give you free money, but rather aim for profit before anything, so make sure that profit is your most important goal.