Tips to Secure Yourself against Mis-selling of Insurance Products

14-04-2015 / admin / 0

Online insurance products are policy agreements not physical objects. So, there are chances of mis-selling of plans. Representatives of insurance companies in India must suggest something suitable for your requirements and thoroughly explain what it can and can’t do.
As a customer, you must know the risks related to the product. Understanding the product completely is necessary for a good deal. Insurance policies online are difficult to understand and are available in various insurance types such as life insurance, general insurance etc.
Buyers must ask distributors relevant questions and know how the plan will fit the individual’s savings and long-term protection needs. Insurance companies in India and the Insurance Regulatory and Development Authority are taking different initiatives to prevent mis-selling of policies.
The transparency level and information availability to the insured to take the correct decision has been improved significantly. Its duty of an insurer’s representative to explain the plan to a potential customer and explains how the policy fulfills the certain requirements of the buyer.
Policyholders are aware of the premiums, benefits and charges payable under the policy. Gathering this information helps to protect the policyholders from mis-selling. Circumstances of every individual need several types of plans and hence, people have different requirements. Carefully read brochure details before signing the policy document:
Know the plan being provided to you
Risk coverage
Future maturity benefits
Any benefits or payments during policy period
Make sure about your premium payments comfort including payment mode, premium amount etc.
Carefully read the marketing brochure
Ask relevant questions to the representative of insurance companies in India, including inclusions, exclusions etc.
Once you get the policy agreement, read it immediately and then contact the service representative if you have any insurance related doubts. If you find the benefits are not in line with your requirements, then make use of the option to cancel the policy within free look period by contacting to the insurer in written.

Meet Our Expert

Book an appointment with our Policy Expert to get competitive quotes


Get the latest updates on Insurance

-Registered By-

-Payment By-

-Secured By-

For more details on risk factors, terms and conditions please read sales brochure carefully before purchasing the insurance policy/concluding a sale.

Branch Offices:
Ahmedabad | Aurangabad | Bangalore | Bhopal | Chandigarh | Chennai | Cochin | Goa | Hyderabad | Indore | Jaipur
Kolkata | Lucknow | Ludhiana | Mumbai | Nagpur | Nasik | New Delhi | Pune | Raipur | Rajkot | Surat | Thiruvananthapuram | Vadodara

Landmark Insurance Brokers Pvt. Ltd.
CIN U66030PN2002PTC017009
IRDAI CoR No: 216 | Broker Code: DB 089/03 | Valid From 13/10/2018 till 12/10/2021 (originally licensed on 13/10/2003 and renewed thereafter) | Category: Direct (Life & General) | A member of IBAI
Regd. Off: Unit No. 402, 4th Floor, Business Avenue, Lane No. 6, Koregaon Park, Pune 411 001

Website: | Toll Free: 1800-419-419-9*

* Working hours: 9:30 a.m. to 6:30 p.m. (Monday to Saturday)