Dinildinesh0 30 June 2015

Insurance cheating

Hiii..my frnd took an insurance from a frnd of her....and it says that she will gets 180million vnd if she paid 100 million vnd(Vietnamese dong) she is Vietnamese citizen....since it was her frnd she signed without reading much...she didnt paid yet..but now the company days she will only get 60million vnd after 15 yrs or she got injured.....so i want to ask that CAN SHE CANCEL THE INSURANCE EVEN IF SHE SIGNED??OR IS THERE ANYWAY TO SUE THE CHEATING COMPANY...pls help me

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Kumar Doab (FIN) 30 June 2015

The universal principle is premium is not paid FPR is not generated and policy is not issued. If she has not paid she may decline to pay citing the reasons.

Each customer in India gets 15 days Free Look Period during which policy can be cancelled………………and such tactics is called Mis selling.

You can check the rules and laws in your country and report also to regulators.

Dinildinesh0 30 June 2015

Okkk..so sir ur saying that she can cancel the insurance without getting sued by the company (is it universal).....she was cheated.....she is saying that the company said the way is WHEN SHE SIGNS THE COMPANY PAYS FOR HER BUT SHE JUST HAVE TO PAY LIKE ORDINARY LITTLE MONEY EACH MONTH....so that's y she is afraid that will they sue her...and its cheating getting 60 million vnd even if we paid 100million vnd right?

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