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Retired Professor Wins Rs 10 Lakh Refund After Being Misled into Buying Insurance Policy
Developing
In Short: A retired professor from Hyderabad has won a significant refund after being misled by bank officials into purchasing an insurance policy without her knowledge.
The Hyderabad District Consumer Disputes Redressal Commission noted that the policy documents were sent to her permanent address while she was abroad, depriving her of the opportunity to review and cancel the policy within the free-look period.
According to The Indian Express, the complainant alleged that bank officials misled her, taking her signatures on loan papers and immediately investing the amount in insurance without her intention.
The insurance company argued that the policy was issued at her request, but the commission directed the company to close the policy and refund the invested amount.
What's confirmed
What's still developing
- The insurance company, through law firm Areness Law, submitted that the complainant accepted the policy without any objection and that it had been issued only on her request and approval.
Sources
- The Indian Expresslink