Policibazaar executive was misselling policy

POSTED BY rahul123 ON December 5, 2013 8:33 am COMMENTS (5)

Yesterday, i got a call from policybazaar  executive. I told her that i have aterm cover of Rs 1 cr (annual package of 10,00,000)

She was saying that as per IRDA rules and (some) government rule the risk cover should be 20 times your CTC and hence I should buy Rs 2 Cr risk cover. Do you have any such experience of misselling and confusing customers ??

5 replies on this article “Policibazaar executive was misselling policy”

  1. rahul123 says:

    Just to add on the earlier point, in order to justify her nonsense she told me that the call is getting recorded . I asked her to give me the reference no. She simply refused, and cut the call! Jago grahak jago……

    Rahul

  2. vijay says:

    I am not sure if I can put this in misselling/confusing category, but when seeking for a car insurance renewal, they did go out of their way to prevent me from buying TATA-AIG….I asked them to provide me with solid data instead of just indulging in slander and mud-slinging. Never heard back again!

  3. Anand says:

    There is no IRDA or government rule for this. At the most, there can be guidelines.
    Still, I have another view for this.

    Whoever suggests you a term plan is your well-wisher and whoever suggests you a ULIP is his/her own well-wisher.

    1. kuntal says:

      Dear Rahul123,
      I could not understand the meaning of “term cover of Rs 1 cr (annual package of 10,00,000).”
      Please clarify,
      Thanks,
      Kuntal.

      1. kuntal says:

        Dear Rahul,
        U meant that your annual income is 10,00,000. Sorry that I could not understand clearly. My mistake. I am SORRY. U have done the right thing by taking a term cover @ 10 times your annual income.
        Thanks,
        Kuntal.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today