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……


  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,

      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.

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