How to deal with an orphaned insurance policy

Often eulogised by life insurers as the lifeline of their business, individual agents are also a source of comfort for many policyholders who prefer dealing with a familiar face. While banks that are engaged in insurance distribution have the advantage of a wide network of branches and enormous staff strength, individual agents continue to account for a major chunk of the business. It is for this reason that insurance companies do not hesitate to dole out lucrative commissions to agents.

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