Beware of Insurance Theft Scam Calls in India

Have you been receiving unsolicited life insurance calls every other day? In recent times, an increasing number of frauds have been noticed 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 and losing your hard-earned money, you must know how to identify a scammer and how these calls take place.
How Insurance Theft Scam Calls are Done
The fraudster will pose as an official agent from a reputed life insurance company and offer unrealistic benefits like unclaimed bonuses, agency commission, or a refund for the investment on the existing policy, which the policyholder can claim by paying a fee, advance tax, or deposit to the caller. He will trick you with unrealistic life insurance benefits and will dupe you of your hard-earned money.

Recently, a similar incident happened with a former employee of Bajaj Finserv who owns a Life Insurance policy. He received a scam call where he was promised a bonus on the policy and was told that he will be able to claim bonus only after he transferred a “Bonus Claim Amount” to the company.
The fraudster tried his best to establish a rapport and gain the confidence of being a real Bajaj Allianz Life Insurance agent.
Ways to Avoid Insurance Theft Scam
To curb this menace of life insurance scam calls, here are a few things that you must keep in mind:
- Never respond to any fake calls related to insurance, loan offers, transfer, or unclaimed bonuses regarding your life insurance policy.
- Do not get enticed by the fake promises regarding bonuses and extra benefits.
- Verify the identity of the caller and the authenticity of the offer made from your insurance company with respect to your existing life insurance policy or get in touch with your relationship manager.
- Always double-check with your insurance company before transferring any amount or “fees” in response to a call regarding unclaimed bonuses, etc.
- 5. If you are making a payment, always 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, make sure to register a complaint at your nearest police station and your insurance policy company explaining the incident.
The only way to stay safe and financially secure is to not trust anyone blindly. Whenever you receive such calls, always cross-check with your existing life insurance company. In case you are a new customer, you may verify the facts by directly call in the insurance company.
Stay alert, stay safe from online frauds in India.
Savdhan Rahein. Safe Rahein.
Read more:
- Always visit https://www.bajajallianzlife.com/ for life insurance related queries
- Infosec Page – https://www.bajajfinserv.in/infosec-pages
- Fraud Awareness Blog - https://www.bajajfinserv.in/insights/fraud-awareness
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