Panic in the Name of Insurance Agents in the Rural Areas of East Terai, the Insured Started Demanding Refunds

Kathmandu. Panic has spread in the name of insurance agents in some districts of Eastern Terai including Bara. It is being said that such people, who sell policies beyond their capacity by showing fear and panic, are now concentrated in the villages from the city and are terrorizing the common people.

Babu Pandey of Bara Dumarbana said that when the insured is unable to pay regular installments in the market area, such agents enter the village and sell large amount of policies to families, relatives, farmers who are engaged in agricultural work, and those who find it difficult to pay the first and second installments.

Pandey said that the agents who entered the village only for the sake of commission are selling policies by showing possible fear to those who cannot pay the second installment. He says that only those who are involved in prestigious professions in the society are active in such activities. After this panic has increased, those who have paid the first and second installments of Zenten are now running to the insurance company to ask for the refund.

When the agents started forcing the insured who wanted to get their money back, some of the disputes reached the police and the administration. The policyholders have appealed to the administration to control the policies and guidelines issued by the Nepal Insurance Authority and the procedures of the life insurance company itself.