My school friend Sailesh is very furious with his Insurance agent. The Agent has filled all wrong details from the data from his bank who is also marketing the policy. Following are the discrepancies :-
1) Wrong address
2) Wrong nominee with DOB
3) Wrong details of business
4) Wrong details of his parents (Who are no more)
Sailesh says that a person can not give such wrong data even in sleep. The agent requested him to sign the form & the data, he assured him that he will collect from the Bank. The policy form is also not filled by Sailesh.
Sailesh, my friend has also written to the Insurer that he does not understand how they appoint agents who can not collect & fill the correct data. He feels that, the company having collaboration with his bankers have forcefully grab the policies irrespective of their ability to do insurance business.
Sailesh demands to know what will be his position in case of a claim for faults made from your side as he feels that the agent also forms the part of the Insurer.
Sailesh is justifiably furious. He just might get the Insurer to correct the mistakes if he makes sufficient noise. I have also asked him to threaten them with escalating the issue to the Insurance Ombudsman and the IRDA.
But Sailesh has signed all those documents himself. Technically, he can be charged of providing wrong information!!!
The Agent too is as much Sailesh’s Agent as much he’s representing the Insurer.
I am sure Sailesh will get the rectifications done. But as I mention in my post about Banking grievances, it’s important to heed the following:
Mr. Sudhakar also outlined that customers need to be more careful and diligent while entering into any transactions. “I have come across several cases where customers put their signatures blindly on loan documents in a tearing hurry and then face severe difficulties. It is always advisable to look closely at the documents before jumping into any loan transaction.”
I am not giving out the details of the private insurer as well as the Bank concerned. The point I want to make is this is a common problem. And if you are aware of the problem, you might just pay more attention when you buy a policy next.
Will you?
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