Reported allegation - Investigation / advisory SC advocate Sudhir Rao Jul 13 2026 flagged alleged ULIP forgery Rs40L after free-look at bank branch, alleging fiduciary breach of corporate agent under PPHI Reg 6/10, BNS 318/336.
Context
Bank branch forgery is inside distribution chain that Corporate Agent amendment Jan 1 2027 seller tagging tries to fix. Fiduciary breach distinct from individual agent.
Implication
Free-look not end of risk - forged signature after cancel can revive debit.
Action
Within free-look email insurer (not just RM) cancel, keep acknowledgement, check statements 30 days after, write to bank principal officer + GRO + Bima Bharosa if debited.