Why do people in India buy insurance and then surrender midway to buy another insurance.?

Question

I have come across large number of people who have lapsed policies and have surrender request, which they do not know how to proceed. Why??

A. Jaishankar

Life Insurance, General Insurance, Mutual Funds, NFO

Bima Bachat aur Nivesh

http://www.naymz.com/search/ashok/jaishankar/1233302

Answer 1

they are misleaded by agents at the time of policy taken

Answer 2

People surrender LIC policy midway to buy another policy is mainly due to the (misleading) agents advices