Insurers flout norms, use pyramid selling schemes
Pyramid schemes, where recruiting more sellers is more important than selling, aren’t new in India. An investigation by ‘Outlook Money’ magazine, the content partner for Mint’s personal finance coverage in the Business of Life section, reveals that such schemes are now being used by corporate insurance agents -- in violation of norms laid down by the Irda
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just wanted to know if the people selling life insurance policies in the bank are trained according to the IRDA norm ???? if not then again banks also are illegally doing insurance .
karnik