Canara Bank 'Mis-Sells' Life Insurance to 90-Year-Old, Policy Matures in 2124

• A 90-year-old Nagpur man was allegedly mis-sold a life insurance policy with an annual premium of Rs 2 lakh by a Canara Bank branch manager.
• The policy, which would mature in 2124, was sold under pressure, exploiting the elderly man's trust and lack of financial awareness.
• The transaction allegedly bypassed age restrictions by listing the daughter as 'life assured' while the 90-year-old's funds paid premiums.
• After the incident went viral on X, Canara Bank's regional head and branch manager visited the man, assuring a refund within a week.
• The case highlights concerns about mis-selling, ethical lapses, and the protection of senior citizens in bank-led insurance sales.