Buying an insurance cover is a very important step in life as it provides protection against unforeseen situations. There are different kinds of insurance plans that offer protection in different ways. Now people have understood the importance of insurance and many are coming forward to avail it. When it comes to buying an insurance plan, people normally prefer to buy it through agents. According to the survey, more than 55% of Indians buy insurance from agents or brokers.
But, the sad part is, not all the agents who sell insurance are genuine. There are some fake insurance agents who sell bogus policies with an aim to make quick money. They cheat people by posing as officials of some reputed company or IRDA licensed insurance agents. It has come to our notice that many such incidents of insurance fraud have taken place in the recent past.
In this blog, we will discuss a real-life incident where a doctor lost Rs 2.07 lakh by falling prey to a fake insurance call.
See Also: How your Insurance agent may cheat you?
A few months back, a doctor had received a call from a fraudster who claimed to be calling from HDFC Life Insurance Company. The caller told the doctor that her insurance policy was in a dormant state since 2013. He also told that she will be getting huge returns if she clears some meagre amount. In the beginning, the doctor was surprised to know that she had some policy in her name and she had paid money to that. But, the caller somehow convinced her by talking about huge returns.
After that, the fraudster sent an email from the email address and the papers resembling to the company. The email had information such as policy number, the premium paid, the last premium paid and so on. It also mentioned the offer to clear the balance in a one-time settlement.
Believing it to be true, the doctor deposited the first premium to the account number provided by the fraudsters. Once the payment was done, she was provided the receipt of the funds cleared. After that, she had even received a letter which claimed to be from IRDA. The letter promised good returns against foreclosing of the dues. The doctor later made the second payment. But, she did not receive any receipt or email for the payment done.
Not just this case, there have been many cases where fraudsters have cheated people by claiming to be insurance agents or officials from insurance companies. So, you have to be very careful while dealing withpeople claiming to be insurance agents.
1. When someone approaches you as an insurance agent, you must ask him to provide an agent or broker licence number issued by the insurance regulatory. If they provide you the identity proof, don't just glance through it, instead, you must go through it properly.
2. Exercise caution if an insurance agent is offering you a policy at a very cheap rate or if he is providing you the offer which is too good to be true.
3. You should never let your insurance agent fill the proposal form on your behalf. Normally, a person posing as an insurance agent will fill the proposal form on behalf of the policyholder.
4. You should never deposit money to insurance agent’s personal account.
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