https://www.copyright link/brand/ch...molition-of-freedom-insurance-20180911-h158g4
Summary:
- FIG will stop selling 4 out of 6 of their products via outbound calls. This represents only 15% of their revenue (85% is Funeral insurance, which they will continue to sell).
- one of the product they were selling (until last week) was "accidental death" insurance - which is a rubbish insurance that does not cover almost anything (if you get hurt 10m away from your work place, it doesn't cover you. If you die in helicopter crash, motor vehicle crash etc, it does not cover you) - which mean out of 60,000 policy they sold, only 55 claims in FOUR YEARS. that's less than 15 claims a year.
- FIG sold insurance to kid with down syndrome and arranged direct debit from his account before his father intervened. (disallowed/business/banking-and-fin...r-old-with-down-syndrome-20180911-p5030w.html)
So far the business is shabby, but if it can retains 85% of its business, I will be very happy bunny.
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