Insurance agents help you get insurance & they are
supposed to sell policies that meet financial goals. As per Indian Money reviews,
many agents prefer to sell policies that give high commissions.
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These are the ways an insurance
agent may cheat you.
You will be forced to buy endowment plans
When you contact insurance
agents to avail an insurance
policy to protect loved ones, many insurance
agents force you to buy an endowment plan. This is
because they get a high commission on the premiums paid on the endowment
plan. Availing endowment
plans to protect loved ones is not a good idea, as it comes with a low
mortality cover.
Indian Money reviews Bangalore
says availing term
life insurance policy is the best option to protect loved ones in case
of an unexpected demise.
Agents do not inform on the free-look period
Many insurance agents are very cunning and do not mention
the free-look period. Free-look period is a time period in which you are
allowed to return the policy, if you are unhappy with it. The free-look period
is for 15 days and starts from the day you receive policy documents. Many
agents do not talk on free look period and simply say that once the policy is
bought, it cannot be returned.
Hidden clauses and exclusions
While selling term life
insurance policies, some agents do not mention certain clauses and
exclusions. If you do not disclose certain facts which are important, the
claims made by your family would be rejected by the insurer. For instance, if
you do not disclose smoking habits, your insurance claim will be rejected. As
per Indian Money Bangalore,
you should not hide anything from your insurer.
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resolve the issue. Just visit IamCheated.com and
post your complaint. If you want to post a review on any company you can post
it on Indian Money reviews and complaint
portal IamCheated.com.
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