Insurance Mis-selling: Insurance is a well-regulated business and all insurance companies follow the basic guidelines provided by the regulator – The Insurance Regulatory and Development Authority of India (IRDAI). The regulator insists on basic guidelines as below :
But there are some fraudulent people who have wrong intentions. They try to make easy money by mis-selling insurance products. Their purpose is to sell a wrong insurance product by deliberately misrepresenting it. Beware of such people!
If you were mis-sold an insurance policy, then immediately contact your insurance company and inform them about the mis-selling. If you need help, you can contact
We provided guidance on how to approach the insurance company and helped Sapna to escalate the case to the Ombudsman. We were pleased to resolve the case within eight months, and Sapna was able to reclaim her funds.Later, she received a call for renewal (premium) which made her realize that an endowment policy has been mis-sold to her. She was required to pay premium for 10 years. She was helpless as she has no source of income and the money she had, was wrongly invested in an insurance policy that she never needed.
We buy life insurance to provide financial security to us (at the time of maturity) and to our family in case something happens to us (as a death benefit). It is worth being extra careful while buying one so as…
Insurance Mis-selling: Insurance is a well-regulated business and all insurance companies follow the basic guidelines provided by the regulator – The Insurance Regulatory and Development Authority of India (IRDAI). The regulator insists on basic guidelines as below : Insurance should…
In life insurance, if something happens to you then your beneficiary or nominee will get a death benefit, but what if nothing happens? Will you get anything in return for the premium paid during the policy term? Yes, if the…