Like any other financial scam, insurance scams are also on the rise. One of the common scams is where someone poses as an insurance agent and then makes you buy or pay a premium for a policy. Sometimes, these scams seem very simple, and you wonder why someone would fall for them, but we all tend to make mistakes sometimes, and so all of us are susceptible.
How To Verify
"Always request the Irdai license number of the agent and verify directly on the official website or mobile app of the Insurance Regulatory Development Authority of India (Irdai). Original agents will never hesitate to share it. Also, verify that any communication, especially payment requests, is being sent from an official email address or verified customer care number of the insurer or platform," says Kunal Varma, CEO and co-founder, Freo.
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This is important as when you do any transaction through a number, it will happen through IVR, and later, you will be transferred to a customer service executive. Nobody will directly call you from a number. Same with email IDs, and any scam is easy to identify. Any link sent from a Gmail ID, for example, has to be spurious. Remember, you should be most careful about the part where they ask you for money. That is what the scamsters are after.
Beware Of Common Tactics
Spammers also pose as insurance agents who offer 'bonus' payouts, spurious policy enhancements, or refunds - but only if you first pay a fee. "Others inform you that your current policy is worthless or will be terminated if you do not respond at once. All of these are high-pressure methods of getting you to pay or to give out personal information without delay," says Verma.
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The scamsters will try and create some sense of urgency in you. Or give you some sort of offer that you cannot resist. Remember that all of these will be something unusual or out of the ordinary. If you are careful and do some basic due diligence, they can be avoided.
If something looks suspicious, don't give them any payment or personal information. Immediately report to the insurance company on their official website or helpline. You may also report the fraud to Irdai's grievance redressal cell or 155255, the national financial fraud helpline. The sooner you report, the safer your policy and information are.
