What Happens When An Insurance Agent Gives You Wrong Policy Information
Insurance agents mostly target illiterate people.Wrong information by insurance agents is considered a violation of the Consumer Protection Act, 2019.
Insurance agents are often asked to get a certain number of customers to sign up for policies. For each policy, the agent receives his commission. They usually target illiterate people or people from the lower run of the social ladder. Uneducated people fall prey to these schemes in the greed of receiving a promised amount. Sometimes due to false information provided by the insurance agents, their companies also face consequences.A similar incident happened with Amarjit Kaur from Mohali, Punjab, who had taken an insurance policy of Rs 4.60 lakh from Mahindra Old Mutual Life Insurance Limited. While withdrawing the amount after three ye...