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Beware! Your Insurance Agent Can Trick You

By SiliconIndia   |   Monday, October 1, 2012
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Bangalore: You might often come across an insurance agent who would try to convince you to buy his policies. But before you decide to buy any kind of insurance policy, make sure that it will benefit you at a large and not the agent. As there are insurance agents who can misguide you about terms and conditions of the policies, and finally make you buy policies which are not beneficial. Hence, Ashoka a consumer forum, has explained the about the five tricks by which agent can mis–sells insurance policies to you.

1. Fraudsters claiming to be IRDA representatives

Many insurance agents around you would falsely claim to be a representative of Insurance Regulatory Development Authority (IRDA).  Beware of them, as they can cause you financial troubles by demanding some service charges in exchange of some unrealistic bonus earned on your policy. You must not get wooed by them even if he has some right information about your policy. As for such fraudsters, obtaining the inside information about your policy from your Insurance company, would not be not a difficult task. A simple way to identify such fraudulent agents is verifying about their credentials and insisting on their identity proof.

Also Check Out: 8 Hobbies Your Insurer will Never Approve


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