2. Selling policies without your consent

Before you sign for an insurance policy, learn about its terms and conditions and the benefits it can provide you. You must try not to give your money to the agent you are dealing with, to buy a policy on your behalf. Because if once your money goes in his hands, he can invest it in buying a different policy on your name which you did not intended to buy. And if you don’t want to be hassled with policy which demands high premium, offers less percentage of bonus and cannot be canceled easily, then refrain yourself from offering your hard earned money to such agents.

3. Selling the wrong policy

Sometimes an agent would intentionally put in your money in some wrong policy in order to earn some extra commission. And to make situation worse, without providing you the policy documents, he would disappear to an unknown place. At the end of the day it would you who will have to bear the burden to paying hefty insurance premiums. If you want to avoid such unpleasant financial blunders, always buy plans from insurance companies and agents who have good market reputation.  

Also Check Out: 5 Tips to Choose a Better Savings Account