Stuck with a mis-sold insurance policy? Here’s what you can do

Complaints from life insurance policyholders about unfair business practice by companies have grown by over 67% in 2012-13, says the consumer affairs booklet released on Wednesday by insurance regulator IRDA. The nature of complaints includes malpractices, difference in promised and actual features in products, non-refund of premium on policies cancelled during the free-look period, tampering or forgery of proposal forms and alteration in policy tenure without consent.

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