Insurers must curb product mis-selling: Insurance Ombudsman Delhi

Insurance companies have to keep a check on incidents of mis-selling, Insurance Ombudsman Delhi region Sunita Sharma said on Monday.
Stressing that customers are the king and insurers are in existence because of customers, she said companies should avoid mis-selling products.
Sharma, a former LIC MD, said usually companies engage customers till the free look period and disappear after that as they cannot make a claim of mis-selling after that.
Policyholders are allowed a period of at least 15 days (30 days in case of electronic policies and policies sourced through distance mode) from the date of receipt of the policy to review its terms and conditions and to return the same if not acceptable.
Insurance Ombudsman is a quasi-judicial grievance redressal machinery to redress complaints of insured persons against life and non- life insurance companies.
Observing that the Self Contained Note (SCN) does not come on time from insurers, she said it is advised that these should be sent to