An 88-year-old was sold a deferred annuity policy despite age restrictions, leading to a Rs 1 crore penalty for Canara HSBC Life. IRDAI found multiple lapses in sales, underwriting, and disclosure. The regulator’s order highlights crucial lessons for senior citizens buying long-term insurance products, especially via bank branches.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.