Views on Finance

A life insurance policy should be a must have for all of us.

Beware though of making false claims on your life insurance policy. You will probably get found out.

It wasn't long ago that a man in the UK faked his death in a canoe accident. He got away with it for some time by living abroad. I don't know why he came back to the UK but he did. He probably didn't like being dead. He had children here and he not only fooled the insurance company, he fooled them. He was caught and I think he is now in prison. companies offering a life insurance policy do checks to ensure the claim is truthful. If you're thinking of taking a life insurance policy out and then trying to commit fraud, think again. The odds of you getting away with it are not very good.

In general companies take time to compare the time the insurance was taken out. They will also check that the facts on the original forms match any information they ask for later.

Insurance fraud isn't a victimless crime, as many who commit it would have you believe, anyone who pays their insurance has to pay extra to cover the cost of the few people who commit insurance fraud.

I'm not sure if things have changed now but years ago people were banned from taking out life insurance on their children. This was because some people were actually killing their children to claim the money. It seems hard for loving parents to believe that this was actually done. It's also hard to believe that children died from diseases such as measles in Britain because their parents had not got the penny it cost for a doctor.

Children were also sent up chimneys and down mines by parents who could not afford to keep their children from these, the money was needed by he families.

Of course, none of those people would have known what life insurance was. If they did they would have been too worried about feeding their families to think about paying insurance premiums.

In spite of the world being in a recession, in the western world even the poor are better off then they were years ago. Poverty is relative, to my parents and grandparents generations, poverty was not having enough to eat and not having shoes to wear. Some of today's children think that poverty is not having the latest game console and game. Times change don't they?