Category Finance

Insurance Malpractices LIC Withdraws 34 Policies

What happens next is that you are sold a Policy on which the Agent gets a hefty commission.

Though the commissions are said to be uniform some policies do attract a better commission than the others because of the high risks to the insured and better returns to the insurer.

Many simply sign on the dotted lines, asking the agent to fill in the necessary details, and hand him over the originals even for photocopying.

As it is there is fine print, where your risks are mentioned in such a corner and in such a font type you can not read it, even if you read you can hardly understand it, such is the jargon.

The Agent if asked to explain will normally say it is just for the records and you will get your returns or use further confusing arguments.

So much so the complaints against Insurance mal practices, forgery have increased, as disclosed by IRDA.

Secret Files Expose Offshore Funds ICIJ Story.

International Consortium of Investigative Journalists (ICIJ) was founded in 1997.

Its mission is to expose the polluting industries, transnational crime networks, rogue states, and the actions of powerful figures in business and government.

For details Link is provided at the end of the post.

Most of us know that ill-gotten wealth by all and sundry, which includes lawyers, Doctors, Business houses and of course Politicians.

Thanks to a series of mind boggling scams in India, like 2G,ISRO, CWG,Maharashtra Irrigation,Helicopter and the forerunner Bofors, even a barely literate person knows that the money is being kept in Swiss Banks and that these banks are very secretive about disclosing the identities of their Customers.