2010
A mid-segment consumer of insurance products barely bothers the hefty insurer. It is mass corporate tie-ups that these organisations really wish to pursue. For, even mid-income employee is supposed to have a secure income stream.
2020
So the first two decades have been spent chasing organisations and their employees to book their policies. Most of these policies have either been discontinued due to change in income, or have reached a minimum guarantee payback level. Not a bother for the insurer yet.
2030
So far so good. All of the savers' generation has been successfully phased out. Implying also that the actual big money depositors are out of the fray. They have either been reimbursed their payments along with the interest or their claims have been settled by payments due to their nominees. In all, the generation that saved for the future is more or less bid adieu. The insurers aren't worried.....yet.
2040
The Gen-X wakes up to its returns. Heart-related cases, obese people, perennially addicted smokers, all line up with yellowish, crumpled bond documents at the insurers' offices. They cry hoarse on social networks alleging policy abuse. Number of claims pile up. Insurers seek refuge in law.......and fail.
They fund the next wave of organised crime.......Policy underworld.
Who will claim if there IS no nominee? A claim avoided is a claim settled. The carefully worded policy bond makes sure, no one turns up at the company's door before the mandatory claim duration after the death of the life insured.
Unemployed youth suddenly start getting richer unnoticed. They go out mysteriously at odd times and return late, mostly unseen and gasping. They call themselves 'settlement conduits' on private payrolls.
2016
The wary mid-income employee clicks "Pay" on his computer screen.
