The fact that life insurance policies are prone to mis-selling is now a well-documented fact, and with a fat commission structure that’s also front-loaded, intermediaries selling these plans have very little to lose. There are many shades to a mis-sell—sometimes customers don’t understand the policy well and the agent is unable to explain the nuances, given the overly complicated structure of insurance-cum-savings plans, sometimes the agents deliberately mislead the customers into buying the wrong plan and sometimes the sale is an outright fraud.
Nine big financial changes that you must watch out for in October
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