investcorpus.in > Latest News > Uncategorized > NCDRC: Regarding mis-selling policies, NCDRC directed Tata AIA Life Insurance to refund of Rs2.47 lakh plus 9% interest
NCDRC: Regarding mis-selling policies, NCDRC directed Tata AIA Life Insurance to refund of Rs2.47 lakh plus 9% interest
The national consumer disputes redressal commission (NCDRC) ruled that Tata AIA Life Insurance Co. Ltd. was liable for misrepresenting policies with a 10-year premium liability as a one-time premium to a low-income family. The NCDRC ordered the insurer to reimburse the Rs2.47 lakh premium, plus interest at a rate of 9% per annum.
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