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… Continue Reading
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… Continue Reading
Mis-selling in insurance is a big problem faced in the insurance industry. Hundreds of people fall into the trap set by the callers who claim to be an employee of insurance companies/ government. They will try to misrepresent the facts… Continue Reading
The free look period is a 15 days period (30 days, if the policy is purchased online) available to all life insurance and health insurance policyholders to review their policies and decide whether to continue the policy or cancel it.… Continue Reading
Insurance is something that has to be requested or asked for. One cannot forcefully sell you an insurance policy. If someone coaxes you to buy an insurance policy that you do not want, then do not buy it as you… Continue Reading
IRDAI (Insurance Regulatory and Development Authority) never sells an insurance policy. It is a regulatory body created to protect the interest of policyholders, to regulate, promote and ensure the growth of the insurance industry in India. However, it has come… Continue Reading
It has been observed that existing policyholders receive calls from people who claim to be IRDAI officials and mis-sell insurance policies. These callers inform the policyholders that the premium of their policy has fraudulently been transferred to someone else. To… Continue Reading
A number of cases are reported where policyholders receive fictitious calls notifying them that their survival benefit or maturity proceeds are due (under their existing policy). They also inform that it is mandatory to invest in a new insurance policy… Continue Reading
There are fraud gangs who call the general public as insurance agents and convince them to surrender their existing insurance policy and misguide them to buy another insurance policy from them. Never get trapped by such fake insurance phone calls. … Continue Reading
We live in the present while securing the future of ourselves and our families. And this is the reason why we purchase a life insurance policy. If you let your policy lapse, then you will deceive the main purpose of… Continue Reading