Safety advisory - Consumer Protection Act 2019 + IRDAI PPHI RPR Legal Nexus Aug 29 2025 maps mis-selling as typology: exaggerated ULIP returns, hidden charges, long-term commitment, bundling with loan, forged signatures, against Consumer Protection Act 2019, IRDAI PPHI Reg 6/10, free-look 15→30 days 2024 plus BNS 318/336.
Method
Primary: RPR typology, Consumer Protection Act 2019, PPHI 2017/2024 free-look. Secondary: the ULIP forgery case, the Indore Feb 2024 ruling, the seller-tagging amendment, IFMF.
Five Red Flags Before Sign
1) 20–30 percent guaranteed on ULIP. 2) Charges not on first page. 3) Must buy to get loan. 4) Sign here I will fill rest. 5) Forged post-free-look debit.
What Free-Look Now Gives You
30 days from bond receipt to cancel. Keep courier tracking + insurer email. After free-look, keep statements 30 days - if debited, write to bank principal officer + GRO + Bima Bharosa citing PPHI 6/10 + BNS 318/336.