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.
More...
Bookmarks