Today I came across an advertisement which says take your vehicle insurance on EMI. Was very much surprised. While there are very good advantages for taking an EMI for our Vehicle Insurance, I am really interested to know whether it’s a Scam or Boom.
Insurance Payment – On EMI – a Scam or a Boom??
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I think buying insurance from reputed platforms like Phone Pe or Policy Bazaar is a good option. I don’t think they are scam. Almost everything is available on EMI these days so I don’t find this surprising.
I can take your point. However, Phone Pe and Policy Bazaar are mostly selling our data to many companies. That also has to be taken in to account.
Data selling is something we shouldn’t be worried by now because our data is already stolen. nothing is private in this day and age. So I don’t think it matters if you choose PhonePe and Policy Bazaar.
EMI is like a loan. So, what is wrong with it? Even Flipkart etc. offer emi on small purchases.
Recently seen bad publicity about Policy Bazaar because they took no responsibility when the insurance companies tried to fool customers.
EMI is a great option as long as it is a reputed and well-known company. Some research will help in finding out.
Yes, this is one aspect. A few years back Chinese companies created apps and started lending money and then they used to take all the information from your device using permission and then even if you pay the amount back, they used to access your contact list and harrass people in your contact list to repay loan. Even I got trapped in it. However, I filed a police complaint and there was definitely a 6 month operation done by police to track these apps and catch these people. So as long as you are taking loan from reputed websites, it is completely fine.