HDFC Standard Life Insurance asked to pay Rs five lakh

Insurance Ombudsman in Chandigarh has asked private insurer HDFC Standard Life Insurance to pay Rs five lakh with interest to an NRI complainant after holding the company responsible for mis-selling a policy.

“An award is passed with a direction to the insurance company to make payment of Rs five lakh with interest at rate of eight per cent from the date of complaint that is March 2, 2010,” said Insurance Ombudsman (Chandigarh), Manik Sonawane in his order.

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