I personally think that the whole business of Insurance just stinks. Very badly. The reason is that the whole business is run under false pretenses. It amounts to essentially throwing money down the drain. If one can restrict oneself and save oneself fron itchy hands then the better solution, I think, is to keep the money in banks and not take out insurances. Show me one normal person, who after spending half his work money on giving his insurance installments gets it back when his car is stolen or is in an accident or the house is burnt or, well, fill in such things. They make you work double hard to get the money which you have been apparently been depositing for these tough times. It is a business of cheating. They come up with excuses to not pay or pay very little with the help of their review team. That is when you have deposited installments for a long long time. In case you have not, the chances of being paid up are one in a billion.
When it will come to it, I think I will never take out an insurance. I will be glad to hear some positive experiences but I think there are not that many.
*I have not had anything to do with an insurance calamity, personally, but I have heard enough instances of insurance policies not paying up, or when they do, people are so exhausted that they would rather not take the meagre amount of their life savings thrown on them.