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“Investors should not get swayed by private bankers’ tall promises!” – Indian investor’s rant over alleged mis-selling of Universal Life

27 March 2013 | 2 minutes read

An Indian high net worth on-shore investor, with US$1 million parked at an American private bank, is pointing the finger of blame squarely at his relationship manager (RM) after a Universal Life policy which was sold to him as a long-term investment vehicle failed to deliver as promised. Accusing the RM of mis-selling, the investor has cancelled his life insurance…

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