How to Protect Yourself from Insurance Mis-selling?

Question

Accepted Answer

1. Check the identity of the seller and ask them to share the purpose of the visit or call.
2. Ask your agent to explain each and every feature and benefit properly.
3. If the agent promises something which seems too good to be true, then verify them with the insurance company.
4. If the agent is offering the policy on the telephone call, ask him to meet physically.
5. Physically visit the insurance company and verify the details of the agent as well as the insurance policy the agent is offering you.
6. After the policy purchase, you will receive a verification call from the insurance company. Carefully listen to what they are saying and reply truthfully. If you have any doubts, ask right away.
7. A free-look period is given to all policyholders in which they can reconsider their decision of buying the policy. If during this free period, you feel that the policy was misrepresented to you or you do not need the policy, you can apply for free-look cancellation.

fake agent

7 Things to Keep in Mind to Avoid Insurance Mis-selling