Be alert always : 5 lac yearly premium insurance policy was sold as a single premium policy by agent to NRI!

IMP-OST : 22nd Oct, 2012 ( Post 5 of 6 )

www.i-securesolutions.in : Specialist can make difference.

From our Facebook page : 
"Honest un-biased Specialist; Coach
can make difference" Like & Invite

HDFC Standard Life Insurance asked to pay Rs five lakh

Rs 5 lac / year policy was sold as single premium to NRI by agent.

The policyholder is only 8th class pass and is working as a driver in USA and is neither adequately literate to know the intricacies of the policy nor he was explained about factual position.

Mis-selling means deliberate, reckless or negligent sale of products or services in circumstances where the contract is either misrepresented, or the product/service is unsuitable for the customer's needs.

Read full story at :
http://www.financialexpress.com/news/hdfc-standard-life-insurance-asked-to-pay-rs-five-lakh/1019313/0