New Delhi, May 13 -- Life insurance is a crucial pillar of financial security, offering peace of mind and protection for your loved ones. However, customers often find themselves with policies that don't align with their actual needs. Sometimes, what customers truly require is not what they're offered, as the focus shifts toward savings or investments rather than essential protection. This leads to confusion, unaffordable premiums, disrupted financial planning, and a gradual erosion of trust in insurance.

To address these concerns, regulatory bodies such as the Insurance Regulatory and Development Authority (IRDAI) and the finance ministry have been advocating responsible sales practices. A recent advisory has urged financial institution...