The usual words used by these agents will be “mutual fund with free insurance” and “guarantee”. As the customers trust their bank they will nod their head for everything and as soon as you agree the paperwork, form filling and signatures will be done in fraction of seconds. Customers “trust” their banks so they don’t even go through the documents properly and would sign them without knowing the aftereffects. You will only come to know about the fraud once the maturity of your product expires. For instance recently a 72 year old scientist named Virendra Pal Kapoor noticed that the money he invested for his unit-linked insurance product has fetch him nothing after the maturity period, instead he lost his invested money too.

Investing your hard earned money is a good deal but before going for investment you should thoroughly go through all the documents related to it. As a customer, you have all the rights to question your insurer in case you don’t understand any of the clauses. The same way it’s the responsibility of every insurer to keep up the trust of the customer. Thus they should be careful enough while selling an insurance product to a customer.