Re: Insurance fraud by ICICI?

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The "pawn gets his sales commission.
In EU the banks and/or insurance companies are made liable and fined.
There is no equivalent consumer protection law in India or USA to my
knowledge

On Tue, 20 Mar 2018, 09:51 Banibrata Dutta, <[email protected]>
wrote:

> Very pertinent article and headline. My dad, 75yr old, was sold (should I
> say tricked into) a ULIP of 5Lacs, by his "wealth manager". His only weal=
th
> being his own house and govt. pension. There should be a possibility of
> criminal proceedings against such "wealth managers". However, we soon
> realize that the "wealth manager" is just a little pawn. The tactics are
> systematic.
>
> On Tue, Mar 20, 2018 at 9:51 AM, Suresh Ramasubramanian <[email protected]=
t
> > wrote:
>
>> The list has seen zero traffic over the past several months / a few year=
s
>> so .. why not restart it.
>>
>>
>>
>> Just came across this interesting article.  Worth a look =E2=80=93 if on=
ly
>> because a police department has finally taken note of rampant misselling=
 of
>> insurance (where ICICI is hardly the only offender, any and every market=
er
>> of life insurance needs his claims carefully examined before buying
>> anything, and even then only buy pure term policies).
>>
>>
>>
>>
>> https://thewire.in/business/how-indian-insurance-companies-are-defraudin=
g-the-bottom-of-the-pyramid
>>
>> _______________________________________________
>> India-gii mailing list
>> India-gii-IAPFreCvJWP2/[email protected]
>> https://lists.india-gii.org/mailman/listinfo/india-gii
>>
>>
>
>
> --
> regards,
> Banibrata
> http://www.linkedin.com/in/bdutta
> http://twitter.com/edgeliving
> _______________________________________________
> India-gii mailing list
> India-gii-IAPFreCvJWP2/[email protected]
> https://lists.india-gii.org/mailman/listinfo/india-gii
>

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<div dir=3D"auto">The &quot;pawn gets his sales commission.=C2=A0<div dir=
=3D"auto">In EU the banks and/or insurance companies are made liable and fi=
ned.</div><div dir=3D"auto">There is no equivalent consumer protection law =
in India or USA to my knowledge=C2=A0</div></div><br><div class=3D"gmail_qu=
ote"><div dir=3D"ltr">On Tue, 20 Mar 2018, 09:51 Banibrata Dutta, &lt;<a hr=
ef=3D"mailto:[email protected]">[email protected]</a>&gt; w=
rote:<br></div><blockquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex=
;border-left:1px #ccc solid;padding-left:1ex"><div dir=3D"ltr">Very pertine=
nt article and headline. My dad, 75yr old, was sold (should I say tricked i=
nto) a ULIP of 5Lacs, by his &quot;wealth manager&quot;. His only wealth be=
ing his own house and govt. pension. There should be a possibility of crimi=
nal proceedings against such &quot;wealth managers&quot;. However, we soon =
realize that the &quot;wealth manager&quot; is just a little pawn. The tact=
ics are systematic.<br></div><div class=3D"gmail_extra"><br><div class=3D"g=
mail_quote">On Tue, Mar 20, 2018 at 9:51 AM, Suresh Ramasubramanian <span d=
ir=3D"ltr">&lt;<a href=3D"mailto:[email protected]" target=3D"_blank" rel=
=3D"noreferrer">[email protected]</a>&gt;</span> wrote:<br><blockquote clas=
s=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-left:1px #ccc solid;pad=
ding-left:1ex"><div link=3D"#0563C1" vlink=3D"#954F72" lang=3D"EN-IN"><div =
class=3D"m_-3948422557232195081m_-2897146149229226433WordSection1"><p class=
=3D"MsoNormal"><span style=3D"font-size:11.0pt" lang=3D"EN-US">The list has=
 seen zero traffic over the past several months / a few years so .. why not=
 restart it.<u></u><u></u></span></p><p class=3D"MsoNormal"><span style=3D"=
font-size:11.0pt" lang=3D"EN-US"><u></u>=C2=A0<u></u></span></p><p class=3D=
"MsoNormal"><span style=3D"font-size:11.0pt" lang=3D"EN-US">Just came acros=
s this interesting article.=C2=A0 Worth a look =E2=80=93 if only because a =
police department has finally taken note of rampant misselling of insurance=
 (where ICICI is hardly the only offender, any and every marketer of life i=
nsurance needs his claims carefully examined before buying anything, and ev=
en then only buy pure term policies).<u></u><u></u></span></p><p class=3D"M=
soNormal"><span style=3D"font-size:11.0pt" lang=3D"EN-US"><u></u>=C2=A0<u><=
/u></span></p><p class=3D"MsoNormal"><span style=3D"font-size:11.0pt" lang=
=3D"EN-US"><a href=3D"https://thewire.in/business/how-indian-insurance-comp=
anies-are-defrauding-the-bottom-of-the-pyramid" target=3D"_blank" rel=3D"no=
referrer">https://thewire.in/business/how-indian-insurance-companies-are-de=
frauding-the-bottom-of-the-pyramid</a><u></u><u></u></span></p></div></div>
<br>_______________________________________________<br>
India-gii mailing list<br>
<a href=3D"mailto:India-gii-IAPFreCvJWP2/[email protected]" target=3D"_blank" rel=3D"n=
oreferrer">India-gii-IAPFreCvJWP2/[email protected]</a><br>
<a href=3D"https://lists.india-gii.org/mailman/listinfo/india-gii" rel=3D"n=
oreferrer noreferrer" target=3D"_blank">https://lists.india-gii.org/mailman=
/listinfo/india-gii</a><br>
<br></blockquote></div><br><br clear=3D"all"><br>-- <br><div class=3D"m_-39=
48422557232195081gmail_signature" data-smartmail=3D"gmail_signature">regard=
s,<br>Banibrata<br><a href=3D"http://www.linkedin.com/in/bdutta" target=3D"=
_blank" rel=3D"noreferrer">http://www.linkedin.com/in/bdutta</a><br><a href=
=3D"http://twitter.com/edgeliving" target=3D"_blank" rel=3D"noreferrer">htt=
p://twitter.com/edgeliving</a></div>
</div>
_______________________________________________<br>
India-gii mailing list<br>
<a href=3D"mailto:India-gii-IAPFreCvJWP2/[email protected]" target=3D"_blank" rel=3D"n=
oreferrer">India-gii-IAPFreCvJWP2/[email protected]</a><br>
<a href=3D"https://lists.india-gii.org/mailman/listinfo/india-gii" rel=3D"n=
oreferrer noreferrer" target=3D"_blank">https://lists.india-gii.org/mailman=
/listinfo/india-gii</a><br>
</blockquote></div>

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