How widespread is misselling of insurance in your country?

[neku]

To achieve their sales goals, some insurance company employees are misleading the customers and avoiding giving anything in writing. For example for one scheme, the fund was making a loss in last year, yet the employee told the customer that it was making 24% profit. Are many citizens misled or not provided correct information when they purchase insurance?

 

[eLdavis]

Over here the sales of insurance is not really that common, so you hardly see people going around trying to get people to buy one.

 

[Springtime]

Here, most insurance companies are trustworthy. Unless you buy from an unknown insurance company, there is very little chance you get trapped.

 

[Fire&Rain]

Oh, it’s pretty common. I’ve seen relatives sold investment-linked policies as if they were guaranteed savings accounts. The agent talks about huge returns but skips over the risk part. By the time the truth comes out, the cancellation fees make it even worse.

 

[mrki444]

Worst part in insurance is small letters or stupid rules. When you want charge something from them, they always search stupid reason not to pay you or pay maybe 20% of requested amount.

 

[Augusta]

i don't know about this here because I haven't had any experience about it

 

[Stardom22]

Normally when the insurance agents go to the field, they tend to lure customers with sweet words and never tell customers the truth. That it because most people wouldn't accept buying policies when they know everything about instance policies.