Mis-selling and High Lapse Rates Plague Indian Life Insurance

Imagine you buy life insurance, but many people stop paying after a few years.

A study shows almost half of people do this, which means they might lose money.

Banks are making lots of money by selling these insurance plans.

They often push these products without fully explaining them, like selling you something you don't really need.

Some banks even sell policies from their own companies, which might not always be the best deal for you.

This report suggests the system needs to be changed so that people aren't losing money and can get better advice, not just sales pitches.