I work in a call centre for quite a large life insurance company in the UK. Had a call the other week that went something like this.
Me: Good morning thanks for calling _______, you’re speaking to Pebbles, how can I help today?
C: Hi yeah I wanted to go through my policy and get a bit more info.
Pulled up the policy, proceeded to do security and do a policy run through.
Me: So your policy expires in 2035 as it is a term assurance. It will pay out your lump sum if you were to pass away or be diagnosed with a terminal illness.
C: What do you mean expires? What happens after 2035?
Me: This is a term assurance which means it is taken out for a set period of time. After 2035 the policy will end.
C: What about all the money I paid in?
Me: As you are paying premiums to be covered for x amount, you will not receive any money back. You pay the amount per month for the cover, similar to car insurance.
C: So I don’t get anything from this? I don’t get the x amount of money at the end of the policy? This is fucking ridiculous! Why am I paying it?
Me: …sir this is a life insurance policy. It pays out if you die. It’s insurance on your life.
C: Well if I get nothing back I’m going to cancel it! How absolutely useless, your company is a money-grabbing scam! hangs up
It’s scary how often I have calls like this, but honestly this is the most memorable. I have many more so I may post them.