I hate 'terms and conditions'

Samarjit Kambam *

'Rules and Laws' for the government. 'Terms and conditions' for the private corporations.

At the initial phase, your attention gets absorbed by the advertisement for any product be it a palpable item or a financial one.

Say, a company may advertise for investment in mutual funds citing benefits galore, benefits that momentarily carry your mind to the other side of the moon but at the end of the advertisement you will definitely come across a phrase stating, "Mutual Funds are subjected to market risks".

Insurance companies are the ones with the greatest number of terms and conditions.

Now-a-days, over and above insurance companies of the country comprising of public sector and private such as Life Insurance of India, National Insurance Company, Oriental Life Insurance, New India Assurance, ICICIPruLife, Birla Sun Life, Bajaj Alliance, Reliance Insurance, Tata AIG, Bharti AXA etc etc., there are umpteen multinational insurance companies treading their feet in India such as Max Life, Aegon Life, Edelweiss Tokio, Aviva, IDBI Federal, India First Life etc., all registered under IRDAI.

The traditional way of life insurance has become old school due to neck to neck competition among various insurance companies and fast evolution in the insurance sector thereby coming up with eye-catching plans and packages to attract more clients.

Now-a-days, one has the privilege to be a policy holder for whatever insurance plan one wants be it for life or vehicle or house, small or large scale industrial sector through the Net thereby saving time as well as the commission you have to pay to the insurance agent who never stops talking.

I had not bought any insurance policy until recently when I was just browsing the Net I came upon a policy of a new life insurance policy. Sorry, I won't expose the name of the insurance company, it would be too unethical.

The policy was advertised at Rs. 490/- p.m. with a life coverage of 1 Crore rupees. Quite attractive. I was totally brainwashed by the ad of that policy so I intended to purchase the policy.

As I started to fill up the application form online, I was stuck and could not get any further when I was on the verge of completion of filling up the form. During the moment, an agent from the company rang up to me telling me the reason for getting stuck.

I was told that as per my monthly income I am not eligible for the Rs. 1 Crore, so I had to reduce it to Rs. 80 lacs or below. Lastly, I went for Rs. 70 lacs. Only then, the application form could be completed.

In the ad was mentioned coverage for 34 critical illnesses, accidental benefits, disability benefits and a host of others but as I delved in deeper I found out that they were only Riders which I had to pay extra for the additional coverage/benefits.

One ironical thing I found out was that the policy turned out to be a Term Cover Insurance not Whole Life Coverage and the policy holder's minimum age should be 18 years and the maximum number of years of coverage is 32 only.

Now, let's do the math. When an 18 year old opt for this policy and by God's grace, if the policy holder lives beyond 50 years (18+32), then all the premiums he had paid for the 32 years can be considered as 'lost money' since there is no condition for refund of sum assured with bonus in that policy.

That means the policy is not insured throughout life after all. The term 'life coverage' should not have been mentioned in the ad of that policy. The ad was really misleading and unfair, just like an act of foul play.

I don't mean to imply that its detrimental to buy such a policy. There's nothing wrong in opting for such kinda policy even if you are only 18 years old as we can't predict our lifespan. We may die any second, any minute, any hour or any day as there are lots of unseen contingencies around us. However, the terms and conditions coming up are quite disappointing.

The policy is meant for persons who have reached their middle ages but duping people with ads containing words such as "Rs 1 Crore Coverage for Life" is totally unscrupulous. This happens to many other policies of almost all insurance companies as terms and conditions keep on cropping up every step as you delve in further leaving you in a frustrated state.

As for me I have already bought the policy for I have reached my middle age and apart from unforeseen contingencies, I can feel the vibration within myself that living 30 years from now on seems quite dim to me due to a lifetime of bad habits and sedentary lifestyle.

Now-a-days with insurance companies as thick as thieves, new policies are coming up like bees in a beehive. The ads of the new policies will steal your heart for some moments but as you introspect deeper, you will come across so many terms and conditions.

Sometimes the policy goes divergent or totally in contrast to what was promised earlier in the ad. Many a times I have witnessed 'coerced registration' to become a policy holder of an insurance company of certain policies by the insurance agents/advisors. They are really good talkers. They can talk a barrel out of a tin can and are quite manipulative also.

Even if the policy holder doesn't know anything about what is being talked about, they anyhow manages the incumbent to buy the policy. They will talk about future benefits, taking loan from one's own policy, rider benefits, ULIPs, portfolios, investment in equities & stocks, free risk taking, exemption from taxes, lumpsum pay out plus regular income, flexibility of the policy, non claim bonus, annuity, settlement option, subrogation, mitigation…. endless blah blah.

The policy holder usually ends up feeling like watching a Chinese movie in Chinese subtitles. Cool.

Better not to go straightaway for an insurance policy just because the insurance agent/advisor says so. They will talk only about the bright sides and benefits of the ibid policy.

So, you need to go through the brochure thoroughly and I am sanguine that many terms and conditions will arise. I am not against insurance of any kind. Buying an insurance with life coverage is in fact one of the greatest acts of responsibility you take for your family.

However, before going for an insurance policy of any sort, you thoroughly need to delve into the terms and conditions of the policy so that you don't regret later on for buying a policy not suited to you. Further, it is not advisable to take financial decisions under insurance agent pressure, family pressure or any other peer influence. Assess before you buy a policy and the decision should be purely yours.

* Samarjit Kambam wrote this article for The Sangai Express
This article was webcasted on March 27 , 2018.

* Comments posted by users in this discussion thread and other parts of this site are opinions of the individuals posting them (whose user ID is displayed alongside) and not the views of We strongly recommend that users exercise responsibility, sensitivity and caution over language while writing your opinions which will be seen and read by other users. Please read a complete Guideline on using comments on this website.

  • Kang Amomgi Tentha : Funga Wari
  • Eyek Tamba :: Learn Manipuri script
  • Piulong khul & Bunning Wildlife Sanctuary
  • The guy in the waiting list
  • Turmeric in beauty care
  • Crisis ahead; this is more dangerous
  • Gearing up for Shirui Lily Fest
  • Do not gag voice of opposition: NPF
  • Garlic Festival @ Ukhrul #1 : Gallery
  • Misplaced Agenda of our CSOs
  • Aribam Devabrata's Mime Play "Kangla Gate"
  • Edge of self determination #1
  • Vardhaman Mahaveer, his life & Jainism
  • Annual General Body meeting of STDCM
  • Land of thousand heroes
  • Present lull before the storm ?
  • Naorem Kalimohon Singh : A Profile
  • Floral tributes to PLA members #2 : Gallery
  • May I tie the knot with a Muslim woman ?
  • Quiz Competition at DM College
  • Cyber warfare: Estonia attack
  • Discussion : South China Sea Disputes
  • The Readers :: Book Discount @MU
  • Democracy: Is the countrymen listening?
  • From Nobap to the top stage
  • Cheiraoba Thabal by LGBTQ #1 : Gallery
  • Cheiraoba @ Kolkata : Gallery
  • Manipuri speaking diaspora in Assam
  • Mangginlian, Lalromawi :: eMing
  • Lomba: best garnish for Yongchak iromba
  • Modern civilisation in Manipur revisited
  • Earning the real good time
  • Meghalaya to consider implementation of ILP
  • NE girls held in Raipur for alleged sex trade
  • Pushing NH-37 to the back burner
  • Cheiraoba Chak Katpa [14 Apr] : Gallery
  • Brajabashimayum Gopal : Akademi Award
  • EEVFAM vs UoI case at Supreme Court
  • Litmus test for Mizoram
  • The present trend of our educational system
  • The rift between parents & children
  • Everything to know about Dermaplaning
  • A heady affair
  • Raped and defiled : India's shame
  • Leima Jagoi @ JNMDA Day: Gallery
  • Right to Religion is a fundamental right
  • Who are Meeteis
  • Naga Peace Process :: News Timeline
  • Meeting of Manipur photography Club
  • Dynamic Manipur's committee for 2018-20
  • BJP's Booth Level Training at Patsoi
  • Sexual violence against women
  • Yaoshang Halankar #2 : Gallery
  • TRAU Vs Mohammedan #2 : Gallery
  • Black sheep in ILPS movement #2
  • SC / HC verdict on Merger Agreement
  • How to practice homoeopathy
  • Sonowal's gesture to Assam journalists
  • Manipur observes flag hoisting day
  • Many unaware of sacrifices made by NE
  • Mary Kom claim gold in CWG
  • 573 identified for 'Smokeless Villages'
  • Floral tributes to PLA members #1 : Gallery
  • Sikkim University Prospectus : Download
  • Schools are fine, colleges are not
  • The Deceptive Appearance :: Poem
  • Sports for peace and development
  • On organizing Thabal Chongba in Delhi
  • People's bishop gets Bharat Gaurav Award
  • Inner Line Permit (ILP) Demand :: Timeline
  • Banning the Bandh
  • A strong Opposition is healthy
  • Yangkhulen (57 Km from Maram) : Gallery
  • Statehood Women's Polo #2 : Gallery
  • An autobiography of MK Priyobarta
  • Lamkoi Shirui Camp 2.0 at Ukhrul
  • RIST Talk -35 @MU : Thermal plasma
  • Police Harassment of Human Rights Activist
  • Favouritism of PDA Govt is shameful
  • Where the mind is without fear
  • End authoritarian rule call of Cong
  • 'HUN' Thadou Cultural Festival #1 : Gallery
  • Kabui Dance @JNMDA : Gallery
  • Gangmei Aluna Kabuini : Nrityabhusan
  • Good & bad of Nung hawai consumption
  • Sadar Hills District Demand :: Timeline
  • Meitei - Scheduled Tribe ?
  • Career options after graduation
  • Food safety concerns
  • Response to Rijiju: Stand off on sovereignty
  • Two Princes :: Funga Wari
  • Yaoshang Sport @Bamon Leikai: Gallery
  • Armed Force (Special Power) Act 1958 #3
  • Cry of a Dying River - 25 :: Poem
  • Centre for Vietnam Studies, New Delhi
  • Leingakki Firem Handoktriphaoba..
  • Seeking report on Thoungamba's death
  • 3rd Northeast Fiesta 2018 : Event Report
  • Traffic: Still yet to find a lasting solution
  • From Go to Hills to Go to Village
  • NESO demands ILP in Northeast
  • Md Awaysh Khan: Mr. India : Gallery
  • Horizon : An Exhaustive Review
  • Is Delhi serious to resolve Naga issue?
  • JRF position wanted at Manipur University
  • Dams & hydropower push in Himalayas
  • Can satan encourage hard work ?
  • DGP distributed DG Commendation Discs
  • Of attack and threat to common men
  • Ruling out sovereignty, integration
  • Folk Dance @Retreat ceremony #4: Gallery
  • The entry of Gorkha in Manipur
  • Khelen Thokchom, some fond memories
  • The Singing Stones :: Poem
  • 109 Bn, CRPF celebrated 28th Raising day
  • Swarajya Magazine tender apology
  • Cheiraoba Chak Katpa #2 : Gallery
  • Women Final: Governor Polo #2 : Gallery
  • Air pollution is an invisible killer
  • Manipur as part of India during Krishna
  • Global Shapers is calling for Application
  • Heart OPD & Free Echo Screening Camp
  • Winter School 2018 at NEHU concluded
  • On forged cheque issue: Pandora Box
  • Accounting for two of 4 won so far
  • Naga pact wont affect territorial integrity
  • Mahesh Thounaojam #2 : eRang Photos
  • TRAU Vs Mohammedan #1 : Gallery
  • Science of stink: Dealing with odour
  • Time lost cost in cyber crime: IGI Airport
  • BJP Patsoi : 38th Foundation Day
  • The making of sports powerhouse
  • Rape in the land of Meira Paibis
  • Kamo Hau Culturals @Kamjong: Gallery
  • Armed Force (Special Power) Act 1958 #2
  • Cry of a Dying River - 24 :: Poem
  • Tribute to Khelen Thokchom
  • Last of his ilk
  • Open letter to Jaideep Majumdar- Swarajya
  • Effort to make our leader understand
  • RIMS road heist : Daylight robbery
  • Major Bob Ralengnao Khathing
  • Pung Chollom @JNMDA : Gallery
  • Mnipur Ima :: Seireng
  • Kou-kha : Wetland tuber cash crop
  • Jobs at Don Bosco Tech Society
  • NPF replies to news portal report
  • The Killing Fields (2013-17) :: Timeline
  • Prohibition against peoples' will
  • Congress in its avatar as an Oppn
  • Mukna Khong Kangjei #2: Gallery
  • Partnerships should be based on solidarity
  • Volunteers for Green Khamasom (VGK)
  • Social media: Boon or medium to hurt..
  • A requiem for Ta Khelen
  • Northeast Fiesta 2018 at Jalandhar, Punjab
  • Jobs @ PR Enterprises, Khurai
  • Vegetables grown @Thanga #2: Gallery
  • Khaidem Tarubi :: Akademi Awards
  • Angaobi :: Poem
  • A cocktail of mythology, science & religion
  • Beauty benefits of tomatoes
  • Condolence message for Khelen Thokchom
  • Communal politics in social media
  • RIP Tamo Khelen .. always in our heart
  • Blank Editorial
  • Tributes to Khelen Thokchom : Gallery
  • Men Final: Governor Polo #1 : Gallery
  • Armed Force (Special Power) Act 1958 #1
  • Scientific Perspective: Biren's speech
  • Ukhrul Sanitary Movement & social evil
  • JFA express grief at Thokchom's demise
  • Yaoshang Nakatheng Chatpa #3 : Gallery
  • April Calendar for Year 2018 :: Tools
  • Thangjiyen: Culinary item during Cheiraoba
  • Nongthombam Biren hasn't a clue
  • Easter: A moment of reorganization
  • A Spark of My Poem :: Poem
  • Asian solidarity on the Rohingya crisis
  • The blunder in Indian Political system
  • Respecting the essence of Good Friday
  • Folk Dance @Retreat ceremony #3: Gallery
  • Sajibu Cheiraoba Chingkaba #3: Gallery
  • Dr. Athouba honored Hindi Sevi Pracharak
  • Jobs for Imphal & Other District
  • Response to N Biren's shameful speech
  • CM Biren must apologize to the people
  • Manipur CM's derogatory statement
  • Being Hindu does not required Mythological..
  • Women Final: Governor Polo #1 : Gallery
  • Ringui Luira Phanit @Ukhrul : Gallery
  • Powerlooms' entry should not be invasive..
  • Rethinking on Yaosang: Sports & tourism
  • Cry of a Dying River - 23 :: Poem
  • Surprising myths & facts about makeup
  • On CM speech at Gujarat : Safronising NE
  • Ongoing talks with UNC : April 10 deadline
  • Landscape from Koubru #1 : Gallery
  • Yaoshang Sport - Marathon #2: Gallery
  • Old Imphal town and Meitei Yumjao
  • Migrants trapped in quagmire
  • Doubling farmers income: Strategies
  • Airtel: preferred network for Aircel customers
  • Haunted by the past
  • Stand off over 7th Pay
  • Kabokki Nong :: Funga Wari
  • Governor's Cup Polo #2: Gallery
  • PM at Science Congress @MU #2: Gallery
  • Architecture as career choice
  • Bhabananda visit Manipur House, Delhi
  • Seminar on role of CBOs & NGOs at RGU
  • Cross border smuggling: lures & liabilities
  • Addressing gap between hills and valley
  • Lui-Ngai-Ni @Longmai (TML) #5 : Gallery
  • Tripartite Talks with UNC : Gallery
  • Manipur Documentary & Animation Festival
  • Sanakhya Ebotombi Haorokcham: Biography
  • PM Narendra Modi @Imphal #2 : Gallery
  • Sajibu Cheiraoba Chingkaba #2: Gallery
  • Challou River, Ukhrul District : Gallery
  • Shopping: Sajibu Nongma Panba #2: Gallery
  • Jobs @SAIRAM at Langjing Achouba
  • Enakta Leiringei (Film) #2 :: eRang
  • Stall @Science Congress, MU #2: Gallery
  • Cheirao Chingkaba @Singjamei : Gallery
  • Yaoshang Cooking Contest #2 : Gallery
  • Yaoshang Mei Loukhatpa #4 : Gallery
  • Bor-keina race @Yaoshang Fest : Gallery
  • Front Page Photo 2018 #1: Gallery
  • Temples of Manipur : Gallery
  • Recipients of Akademi Awards for 2014
  • Old Manipuri Movie #1 :: eRang Classic