4. Skirting the free look period

If you do not have a good knowledge about the free look period, which is a 15-day period starting from the date of issue of your policy; your agent can easily cheat you. As within this free look period, if you find that the terms and conditions of the policy are not convincing, you can easily cancel or change your plan without any charges and with full refund (barring cuts for medical tests, stamp duty charges etc.) While your agent may unnecessarily make delays in delivering the policy details to you within the free look period. It is advisable to cancel your policy if your agent is intentionally coming up with ways to ensure that you are not able to use this period.

5. Selling policies that you don't need or that are not in accordance with your the financial goals/conditions

If you are new to the field of insurance, you may not have a sound knowledge about the various insurance policies and their benefit schemes. You must not also entirely depend on your agent to guide you for choosing the right policy for you. For instance an agent may recommend you to buy a life insurance policy which will protect you only till 35 years of age and this may not match with your financial goals. Therefore before opting for insurance, instead of relying completely over one agent, you should take the opinion of three or more agents. But the final decision made should be reasonable and must be yours.

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