Have You Been Mis Sold An Insurance Policy?

By Author: Vijay K Shetty
Total Articles: 129
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Often, do you bump into insurance sales agents who force you into signing up some policy or the other? You may have heeded to their references and have signed an insurance policy without understanding the limitations of the policy. Did you ever think of its repercussions?

When insurance policies are sold with out divulging adequate information to the client about the terms and conditions of the policy, then it is considered a case of policy mis-selling. Are you aware of mis-selling? Understand what are the circumstances under which a policy is mis-sold?

You are considered to be mis sold a policy under various circumstances such as:

If you are sold a policy, in which, you are forced to believe that it covers self employment. No income protection cover includes a self employed individual under its protection cover. If you have bought a policy heeding to the salesman's convincing talks then you can file a claim for compensation.

No insurance will provide monthly earnings to a self employed if he was to fall sick, meet with an accident or be out of employment. When such situations arise, you will be paid ...
... back the insurance premiums that you have invested with them while you were in employment.

If you were told that you will be covered for a lifetime and you don't get compensation for life time, then it is a clear case of mis-selling. You must also take care to read the document and mention the age for which you want the coverage. Always sign up for a policy which offers you coverage that you were looking out for.

You have a right to claim, be prepared in case there is any discrepancy in your policy. Incase, you were mis-sold a policy when you have clearly mentioned to them that you run your own business, you can file for compensation. Claim for a compensation and the company is liable to pay you all that EMIs you have made in the last few months or years.

Vijay K Shetty, Platinum Author. For more information: Redundancy Insurance


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