Home > Blog > Various Kinds Of Fake Insurance Calls

Various Kinds Of Fake Insurance Calls

IamCheated.com Research Team | April 02, 2019  1:35:pm

There are many insurance companies in the market, which sell various insurance products to people. Most of the time, you get calls from insurance agents, who try to sell insurance policies. But, not all these calls are genuine. There are some gangs of fraudsters who make such calls to cheat innocent people of their hard earned money.

Fraudsters call people by posing as insurance company representatives and they use various tricks to lure gullible people. In this blog, we will discuss various kinds of fake insurance calls and in case you receive any of these calls make sure to disconnect and stay safe.

See Also: Watch Out: Your Insurance Policy Could Be Fake

Various Kinds Of Fake Insurance Calls

These are various kinds of fake insurance calls you must be aware of:

1. You might get a call claiming to be from an LIC service branch. The caller will ask you to transfer your existing policy to a new policy in order to get high returns.

2. You will get a call saying that your annual equity bonus is lying unclaimed in your account and you will be asked to deposit money to claim the bonus.

3. Fraudsters may call saying that you are eligible for a bonus on being a valued customer. They also state that the bonus has been transferred to the agent code instead of your code. They then ask you to provide your policy details, so that a bonus can be transferred to your account.

4. You might get a call claiming to be from the Insurance Verification Department, who will ask you to provide bank details, PAN card number, and Aadhaar number to complete the verification process.

5. Fraudsters claim that your insurance policy is going to be canceled and you are asked to provide your personal banking details like card number, CVV and OTP to complete the electronic transfer of money.

6. Fraudsters will say that your existing policy has lapsed due to some reason and you will be asked to surrender and buy a new one.

7. Fraudsters will call claiming to be from IRDAI and they will say you are entitled to a bonus on your policy. In order to receive the bonus, they will ask you to make an investment.

8. You might get a call claiming that you have been cheated by your insurance company. The caller will also say that you can cancel the previous policy and get the money back on availing a new policy. 

9. The caller will claim that he is an LIC employee and he will ask you to buy a policy saying that you will get a special bonus and higher returns.

10. The caller will claim that your existing policy is running in loss and you will be asked to buy a new policy, which can recover all the money and help you make a good profit.

11. The fraudsters call stating that your insurance agent had purchased a policy of some insurer, at the time of availing your policy. They also say that the dividends from that policy will be transferred to the agents account. In order to transfer that money to your account, you will be asked to deposit a certain amount.

See Also: How People Get Cheated While Availing Term Life Insurance Plan?

Have a complaint against any company? IndianMoney.com's complaint portal Iamcheated.com can help you resolve the issue. Just visit IamCheated.com and lodge your complaint. If you want to post a review on any company you can post it on Indianmoney.com review and complaint portal IamCheated.com.