2023-04-17 21:49:00
“○○ whole life insurance incomplete sale full refund success story sharing.”
“Share the success story of self-complaint cancellation.”
Insurance companies are suffering from a headache as the ‘complaint cancellation’ system, which was designed for consumer protection, is widely spread as a kind of ‘investment technique’.
If it is recognized as an incomplete sale and goes through the complaint cancellation procedure, consumers can get back all the insurance premiums they have paid so far, and there are many cases where complaints are frequently filed even for cancellation due to a simple change of heart.
According to the insurance industry on the 18th, it means that a customer raises a complaint and cancels it for reasons such as insufficient awareness of the contents of the product following three months from the date of the insurance contract in which the complaint is filed. If incomplete sales are recognized during the recruitment process, consumers can get their premiums paid back.
It was prepared with the intention of protecting consumers from incomplete sales, but there are many cases where termination due to simple remorse or dissatisfaction is turned into civil complaint termination. In the case of general cancellation, only cancellation refund can be received, but if civil petition cancellation is accepted, all insurance premiums can be refunded.
For this reason, the civil petition cancellation procedure is being promoted as a financial method that can save insurance premiums in various financial technology cafes and blogs.
The most common example is ‘whole life insurance’. This is because there are many cases in which consumers want to cancel the policy due to the long subscription period, and there are many cases in which whole life insurance is misrepresented as savings insurance, saying that it gives a fixed interest rate.
Among the reviews, there is a considerable amount of content that the ‘complaint cancellation’ was successful through a civil petition agency or an administrative agency. When I applied personally, the cancellation of the complaint was not accepted, but it was said that all insurance premiums were refunded following finding the element of incomplete sales through a professional company.
The insurance industry is in a tense mood. This is because the incomplete sales rate may increase, and trust in the insurance industry may decrease due to frequent complaints. If the dispute spreads to the Financial Supervisory Service stage, there is also the burden of imposing a fine.
In particular, it is responding strongly to agencies that abuse consumer protection devices for personal gain. In 2019, the Yang Insurance Association accused a civil affairs agency of violating the Lawyer’s Law, who approached subscribers saying they would accept insurance premiums and received deposits and success fees. The company was eventually recognized for illegal business last year and was fined.
The insurance industry expected that the ruling would reduce the number of civil complaints through agencies, but there are an increasing number of cases of avoiding charges of violating the Attorney Act by partnering with law firms, which is an atmosphere of concern.
An official from the insurance industry pointed out, “Consumer protection measures should of course work properly for products sold incorrectly, but the atmosphere in which civil complaints are rampant and agencies are prevalent until cancellation due to a simple change of heart requires midnight.”
(Seoul = News 1)
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