Misselling or Misbuying Whats your case



In the last decade or so Insurance as a product has surely featured amongst the must haves of working adults in India. But when a young adult goes about identifying the right insurance product in the market he sometimes falls victim to either Misselling by the Insurance agent or Misbuying of the product by himself.

Let’s look at Insurance as a product, where both mis-selling and mis-buying seems to be happening here more frequently in recent times. Let’s understand first why does Misselling by an Insurance agent occur, in my opinion when there is an Insurance Agent ‘selling’ a policy for his company the chances of misselling occurs because there is possibility that the customer may not need the policy being ‘sold’ to him.

I am calling the sale here a mis-sell as there is the possibility that that the applicant may not need that particular policy and he would have probably signed or opted for policy for other reasons apart from a need being taken cared of in the policy.

There is also the case of Misbuying which happens when an applicant directly applies for a particular policy totally on his own research and good will, doing one’s own research is good but again it would always be prudent to take the help of an independent expert as he would be able to look into the finer details of the insurance policy.

Today applicants can avail of the services of an insurance broker who being qualified would be in a better position to offer the applicant various insurance policies which he can choose to compare, the broker would also advise him on which of the policies would be better suited to cover the insurance needs of his and his family.

Thus the broker would act like a suitable bridge between the applicant and insurance company. Here we at SIBPL we have a team of professionals who are experts and would surely guide you on which would be the right insurance policy for you, so why wait do call up and speak to us right away to identify which is the right insurance policy that you need.


1. Views as are mentioned in the article are personal views of Author and nothing to link with Co., its Director and Employees.

2. All investments are subject to market risk and you need to consult your financial advisor/consultant before investment


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