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Beware Of Insurance Theft Scam Calls! You Could Be the Next Target

  • Highlights

  • The growing menace of insurance theft scam calls

  • Fraudsters offer fake bonuses and benefits to potential policyholders

  • How insurance theft scam calls are executed

  • Ways to avoid scams

In recent times, an increasing number of frauds has been seen in the form of spurious calls and emails, where fraudsters offer fake bonuses and benefits to policyholders only to cheat them later. To avoid becoming a victim of fraud and losing your hard-earned money, you must know how to identify a scammer and be wary of such scams.

How Insurance Theft Scam Calls Are Executed

An Ultimate Guide to Spot Online Life Insurance Scams

The fraudster will pose as an official agent from a known, reputed insurance company and offer unrealistic policy benefits like unclaimed bonuses, an unheard of commission, or a refund of investment amount on the existing policy which the policyholder can claim by paying a fee, advance tax or deposit to the caller. They will first trick you and then earn benefits and bonuses on your policy.

Ways to Avoid Insurance Theft Scam 

An Ultimate Guide to Spot Online Life Insurance Scams

To curb the menace of insurance scam calls, here are a few things to keep in mind:

  1. Never respond to any fake calls related to insurance, loan offers, money transfer, or unclaimed bonuses regarding your insurance policy.

  2. Do not get enticed by fake promises regarding bonuses and additional unheard of benefits.

  3. Verify the identity of the caller and the authenticity of the offer made by your insurance company.

  4. Call your insurance company’s customer representative or check their website for more details on the products.

  5. Always double-check with your insurance company before engaging with a call regarding unclaimed bonuses.

  6. If you are making a payment, do it through a cheque or credit card as they can easily be tracked and verified.

Advice for Victims

If you still become a victim of such scam calls, register complaints at your nearest police station and your insurance policy company with supporting documents/screenshots of calls, phone numbers, email, or SMS communications.

Double checking details with your current insurance provider either by visiting the official website or by speaking to customer service executives will help in your safety and financial security.

Stay alert, stay safe from online frauds in India.

Savdhaan Rahein. Safe Rahein.

Read more:
• Cautionary Note - https://www.bajajfinserv.in/cautionary-notice-new.pdf
• Infosec Page - https://www.bajajfinserv.in/infosec-pages
• Fraud Awareness Blog - https://www.bajajfinserv.in/insights/fraud-awareness
• Always visit https://www.bajajallianzlife.com/ for life insurance-related queries and https://www.bajajallianz.com/ for any general insurance related information.

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