I was offered a term plan by an Indian Bank. The person who contacted me with the requirement that a mandatory health check will be done as a part of the process. He also asked some some income and job-related documents. I did provide the salary slip only. I was informed that this is not sufficient document, they need appointment letter or offer letter. Which I didn't provide. During this period I changed my mind and didn't want to purchase the Term insurance policy offered by the bank. I was under this impression that since my documents are not complete and Bank needs more details, hopefully bank will not issue a policy to me. Later on I came to know that Bank had issued the policy to me without having required documents and also without conducting my health check up. I want to know, that can I take some legal action to cancel this policy issued by the bank? If yes, what should be the procedure,

Yes, it is possible. Bcz bank is liable to first complete the documentation required to issue the policy.

Please approach your district Permanent Loke Adalath Court .

Regulated by the Insurance Act

sir, first check the document which was provided by the bank to you at the time signing the document regarding issuing the policy. if in any clause/paragraph of the said document stated that the health check is mandatory and it will be done before issuing the policy, then you can initiate the legal action against them. Sometimes the agents themselves get the health check documents made at their level. If they have got the health check document prepared and attached with the policy, then you will have difficulties in making legal action policies because you will have to prove that you have not done the health check.

In such cases where no communication was made where remaining documents were asked and without providing them the policy was issued without the consent of the person he or she can file complaint against the same in consumer court against such policies issued by bank to its customers.

you can bring this up before the Banking Ombudsman and seek redressal for your grievance and if that fails you can take the matter forward to the consumer forum

Yes you can take a legal recourse against the Bank however the Policy Documents must have arrived after the issuance of policy kindly ask on the toll free no. how can you cancel the policy and have your premium returned if their if the Bank charges are high you can go for Legal Action against the same bank and issuing employees.

yes of course you have all rights to cancel your policy at any time and yes you can take legal action the bank. you can file complaint before consumer form for damages for not verifying your documents and health checkup.

You can book a consultation for the same. I will be happy to help.

You can simply write to the concerned bank manager stating all these details, and that you had never signed up or confirmed for taking the plan, and that you came to know of these later on, and that you wish to terminate/cancel it, and you can also seek compensation for their acts against your consent and knowledge. If they do not cancel/terminate it, we can take further action against the concerned bank, the staff and the manager.

Mr Harish, the simplest way is to send legal notice to the bank branch for cheating you. if the notice didn't works, the you will need to file a case as well. contact a lawyer for that

Dear Mr. Harish, I read your query and the answer to your question is YES. You can definitely cancel the policy which was issued in your name if you haven't given your consent to it. Contact a lawyer and ask him/her to write a legal notice addressing the Bank Manager of your respected Bank branch. Good Luck! Thank you, Pooja Kumari (Advocate)

Yes, you can initiate legal action against them provided that how much you have proceeded to get that agreement done (between you). whether that offer letter was really a requirement or just a formality to cross-check the fact concerning your employment by the agent. I am pretty sure that you must have filled the documents provided by that person.

Yes, you can legal action against the bank for issuing unauthorized policy and further first serve legal notice and then file case in consumer commission.

Advocate Aaditya
19 Aug 2021 06:53 PM

Yes you can approach Consumer court for the deficiency and unfair trade practice against the bank and the insurance complany,you can contact me for the same

yes based on terms and conditions mentioned in policy, you can initiate legal action

Yes you can issue a notice against the bank for the above said act before going to the court.


Yes, you can file a complaint in the consumer court regarding the same.

All policies have a no-look period. You can cancel the policy without any charges during the said period. If there is a clear instruction on your part to not issue the policy and yet they issued the policy, you can get compensated for the actions of the Bank.