A few days ago I received in the mail a glossy card-based flyer from “Medibank Insurance”. I have Medibank Health Insurance and have for over 20 years. Been paying them a bunch of money each month for not a whole lot in return. So with the arrival of this bit of livery I knew a follow up call would come. It has happened many times over those years of cover.
So they were trying to sell me life insurance, income protection insurance, and funeral cover insurance… not the funnest thing to be selling.
Unlike some folks, I’m not rude or short with the folk that call. I know it’s their job and it’s not easy out there these days to earn a crust. Not to mention I have previously worked in a call centre at Optus so I know what it’s like being on the other end of the phone with a rabid customer spewing hate at you just because you called them. Though in my case 99% of my calls were inbound.
Anyway, I’m not going to take out the insurance, but I still let him tell me about it. To cover $4,500 per month of income protection, plus live and funeral, it was only going to cost $36.50 per fortnight, not a bunch… but I have two issues with it.
- We’re still in early days of our business, and I’m pretty sure most self-employed folks find it difficult to make a claim against these things.
- The low cost is always a starting point. My private health insurance, which the government makes us have, even though we get nothing for it. Has gone from $20 in the early days to now over $140 per month. Quite the increase given everyone over 30 earning a decent wage has to have it. So I’m not convinced this wouldn’t go the same way.
But yeah, I feel for these folk, and I let them have their say before politely declining. Any attempt to decline earlier tends to come across as hostile, though part of me is always thinking, if I let him go he can go and call someone who might actually buy the service.
Oh and I see it all as a scam. In this case, reading the document sent out, the cover they are providing, they aren’t actually providing.
The disclaimer at the bottom of the document reads
Medibank Life, Income Protection and Funeral Insurance are each issued by Swiss Re Life & Health Australia Pty Ltd ABN 74 000 218 306, AFSL 324908. These products are distributed by Greenstone Financial Services Pty Ltd (GFS) ABN 53 128 692 884, AFSL 343079 and are promoted by GFS’s Authorised Representative [AR] Medibank Private Limited ABN 47 080 890 259, AR 286089.
It’s the same with all insurances it seems, maybe two or three companies run the whole thing with all of these marketing companies sitting above them. Seems weird.