Have you been a victim of mis-selling or forcibly being sold life insurance products by banks and non-banking finance companies who act as agents of insurers? Relief could be on the way with the Insurance Regulatory and Development Authority of India (IRDAI) warning all players against resorting to such practices by those selling insurance products.
In a communication to all life insurance companies and banks and non-banking finance companies acting as corporate agents on Monday, IRDAI has said that insurance regulators strictly prohibit such mis-selling or forcible selling products and has warned that “ such complaints are being viewed seriously by IRDAI.”
