Regulations: Allahabad HC Raps IRDA & SBI Life but what about a senior citizen buying life insurance?  

June 25, 2014

While no benefit of doubt can be given to both IRDA and SBI Life, can the customer be absolved of all responsibility in this case of \'mis-selling\'

Raj Pradhan

In a sensational judgement, the Allahabad High Court (HC) has found SBI Life guilty of serious mis-selling and has ordered SBI Life to return the original amount of Rs50,000 to the petitioner within a month. This has aroused the hopes of the insured that insurers would be put in their place. But this complex case raises many issues.

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