New Delhi [India], April 22 (ANI/TPT): Over Rs. 51,500 crores is lying unclaimed with financial institutions, like banks, insurance companies and mutual funds in India, according to a report by RBI released in 2021. Millions of policies lay unclaimed with insurance companies, completely unknown to the people for whom this financial protection was bought. While on one hand dispersing these funds to the rightful nominees of the deceased remains a challenge, on the other hand, it completely eliminates the whole purpose of buying life insurance in the first place.
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