Question:

Is there any redress with insurance companies if they have sold you an inappropriate product?

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My great grandmother was sold this nominated drivers policy where all her supports were taken off and she was the nominated driver. She had no idea and got her nephew to drive the car and there was an accident. On closer inspection the policy is totally inappropriate for her needs. For the last 20 years she has had a policy with a list of people on it in case she requires support getting hoke and then some over zealous consultant coherced her into a nominated drivers policy - there is no financial benifit with this policy whether 1 person drives or 4 people drives. Where can she complain ?

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  1. If some accident happens, the person who is covered under insurance will get the benefit. He need not be the driver.

    You should check the policy eligibility up to date. Still that policy is in force or got disabled because of non-payment of the premium. If it is endowment policy, even if you don't pay a single premium, they don't give you benefit.

    While taking the policy, are you sure of the benefits given to you?. If everything is correct from your side and if you need justice, then insurance regulatory authorities are there to help you out.

    If you are in India, there is a separate body to take care of all the issues. Even if you can't get justice here, you can approach IRDA. If your policy taken by you included the benefits that you are looking it, then no one can stop you.


  2. OK, the complaint can be made to her state insurance commissioner's office.   They aren't going to do anything - this was a contract, your great grandma wasn't under legal guardianship for incompetance, and presumably knew what she was doing.

    But ultimately, it's up to the CONSUMER to buy the product they need.

    The only way she could have no idea, would be if she's incompetant, in which case you need to have someone put her under guardianship.  

    Most of the time something like this happens, it's because someone is trying to "pull a fast one" and have a youthful operator driving, without paying for youthful operator rates by not disclosing the youthful operator.

    But with the elderly, their children need to take an interest in their lives, and step in when they start 'slipping'.

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