Insurance industry: Why you must check sales document before buying insurance policy

Instead of taking an agent's word, do your own research on policy benefits and obligations

Bindisha Sarang | Mumbai
Last Updated at December 21, 2022 00:02 IST

financial planning, insurance, personal finance

While the government and its arms will take steps to prevent mis-selling, buyers, on their part, must practise the concept of caveat emptor (buyer beware).

The Finance Ministry recently pulled up public sector banks (PSBs) for mis-selling insurance products. The Central Vigilance Commission has cautioned against the forced selling of insurance, saying the lure of commissions from their sale could affect the quality of loans.

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