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Medical Identity Theft – How To Stay Protected?

  • Highlights

  • Beware of online health insurance frauds

  • Your medical identity may be stolen to defraud health insurance providers

  • Fake insurance policies can cost you money

  • Do not invest in online health insurance policies without reading the terms and conditions carefully

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If there is one thing that the COVID-19 pandemic has brought into sharp focus, it is the need for robust health insurance. While more and more people have started to look for insurance policies that will reduce their medical spends; medical and financial identity theft, by way of fake policies and health insurance scams, is also on the rise.

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Fake health insurance can cost you

Health insurance policies are a great way of taking care of your financial worries in case of an ailment and hospitalisation. Like most other types of policies, several insurance providers are now allowing us the option of applying and paying for health insurance policies online. Unfortunately, the number of fake insurance providers exploiting the vulnerability of internet users is also quite high. Let’s look at the different types of health insurance frauds:

  • Fake health insurance providers may misuse the personal details you provide while signing up

  • You may be prompted to make a payment towards processing fee, insurance premium, or documentation charges but the insurance company may not be a legit one

  • Medical insurance fraud may also be committed by people who steal your medical history and use it to claim insurance pay-outs for procedures you may never have had

  • The credit or debit cards used by you to make payments against fake health insurance are vulnerable to be charged by unscrupulous scammers

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Health insurance red flags

  • Receiving an e-mail or intimation about approval of a health insurance plan that you did not apply for

  • Insurance service providers promising “no documentation” health insurance policies

  • Insurance providers not registered with the Insurance Regulatory and Development Authority of India (IRDAI)

  • Health insurance policies prompting you to pay a premium without the need for other details

  • Promising extraordinarily high health insurance cover with a very low premium

  • Seeking medical information through insecure channels such as social media posts

It is important to check the Insurance Regulatory and Development Authority of India (IRDAI) registration of all health insurance providers before you sign up. Do not provide personal, financial, and medical information to unverified entities. It is very important to go through the terms and conditions carefully before signing up for medical insurance. If you believe you have been defrauded, register a complaint with the police, the National Cyber Crime Reporting Portal, and the IRDAI.

Be vigilant. Protect your health and finances from scammers.

Stay alert, stay safe from online frauds in India.

Savdhaan Rahein. Safe Rahein.

Bajaj Allianz General Insurance Company Limited
• Whistleblower Email: Fraud.Info@bajajallianz.co.in
• Whistleblower Hot Line no: 020- 6728 4477
• Verify your policy: https://bit.ly/bagicpt

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