Mis-selling occurs when an insurance policy is sold using false, misleading, or incomplete information, or when it is unsuitable for the customer’s needs.

• Selling a policy without explaining key exclusions or limitations

• Forcing or pressuring a customer to buy insurance (e.g., with a loan)

• Promising guaranteed returns in non-guaranteed products

• Selling insurance without customer consent

• Misrepresenting premium amount, tenure, or benefits

• Selling policies unsuitable for age, income, or financial goals

ou may have been mis-sold if:

• The policy does not match what was promised verbally

• Important terms were not disclosed at purchase

• You were not given policy documents

• Your signatures were taken on blank or incomplete forms

• You were told insurance was “mandatory” when it wasn’t

Yes. Mis-selling violates insurance regulations and consumer protection laws in most countries and can attract penalties for agents and insurers.

• Review your policy document carefully

• Contact the insurer’s customer service or grievance cell

• Submit a written complaint with evidence

• Escalate to the insurance regulator or ombudsman if unresolved

Most policies have a free-look period (usually 15–30 days) during which you can cancel and receive a refund (after deductions). Outside this period, surrender rules apply.

Refunds depend on:

• Time elapsed since policy purchase

• Premiums paid

• Regulatory guidelines
  If mis-selling is established, insurers may refund premiums or provide compensation.

Both can be held responsible. Insurers are accountable for the actions of their agents, brokers, or bank partners.

• Never sign blank forms

• Read the policy document before paying

• Ask for written illustrations and benefit details

• Avoid pressure sales

• Buy only what suits your needs and budget