My insurance agent mis-sold me a policy (lied or hid the terms) — what can I do?
Last updated: 2026-07-12 · Educational content; not legal advice.
Short answer
You have remedies. Insurance agents and brokers must be licensed by the Insurance Commission, and both the Amended Insurance Code (RA 10607) and the Financial Products and Services Consumer Protection Act (RA 11765) require fair, non-deceptive dealing — an agent may not misrepresent the product, hide material terms, or sell you something unsuitable through false statements. First, act on the free-look period: a new life-insurance policy typically comes with a free-look window during which you can return it and get your premium back (less allowable charges), so if you were misled, exercise it promptly in writing. Beyond that, put your complaint in writing to the insurer, demanding correction, cancellation, or refund based on the agent's misrepresentation. If the insurer does not resolve it, escalate to the Insurance Commission, which licenses and disciplines agents and can act on abusive or deceptive conduct (including suspending or revoking a license) and mediate your claim. Keep everything — the proposal, illustrations, what the agent told you, and the policy — and note the dates, because the free-look and complaint timelines matter.
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Frequently asked
Can I get my money back if I was misled into buying?
Often, yes — a new life-insurance policy typically has a free-look period during which you can return it and recover your premium (less allowable charges). If you were misled, exercise the free look promptly in writing. Beyond that window, you can still demand cancellation or a refund from the insurer based on the agent's misrepresentation and escalate to the Insurance Commission.
Is mis-selling actually against the rules?
Yes. The Amended Insurance Code (RA 10607) and the Financial Products and Services Consumer Protection Act (RA 11765) require fair, non-deceptive dealing. An agent who misrepresents the product, conceals material terms, or makes false statements to close a sale breaches those rules, and the Insurance Commission can discipline the agent.
Where do I complain about the agent?
To the Insurance Commission, which licenses and supervises agents and brokers. After demanding correction from the insurer in writing, file with the Insurance Commission; it can act on abusive or deceptive conduct — including suspending or revoking the agent's license — and help resolve your claim.
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