How to protect yourself from insurance frauds?
With frauds in rise everywhere it is important that the customer know how to protect himself.
Though Insurance frauds are not something new but such incidents have been rising – particularly in motor, health and personal accident segments. Recently several news reports have also shown how fraudsters filed cases of natural deaths as road accident victims in order to claim money from their personal accident policies.
To counter such insurance frauds initiatives are needed from both the insurer and the insured side. For example: most of the insurance companies generally have their own call-back system to ascertain that the customer has understood the benefits and terms of the policy. Similarly, before signing on the dotted lines, insured should lookout for the warning signs that indicate an insurance policy could be fake.
Here are a few tips you can use to check the facts:
With frauds in rise everywhere it is important that the customer know how to protect himself.
Though Insurance frauds are not something new but such incidents have been rising – particularly in motor, health and personal accident segments. Recently several news reports have also shown how fraudsters filed cases of natural deaths as road accident victims in order to claim money from their personal accident policies.
To counter such insurance frauds initiatives are needed from both the insurer and the insured side. For example: most of the insurance companies generally have their own call-back system to ascertain that the customer has understood the benefits and terms of the policy. Similarly, before signing on the dotted lines, insured should lookout for the warning signs that indicate an insurance policy could be fake.
Here are a few tips you can use to check the facts:
Buy from licensed insurers & intermediaries
Make sure you always buy your policy from a licensed agent. Check for ID and other details. When you buy online, thoroughly check the credentials of the website and the service provider before you go ahead.
Premium payment receipt
It is always preferable to pay online or by a cheque in the name of the company, as it often happens that an accused get money deposited in their own accounts. If not possible online, pay your premiums through cheque or demand draft payable to the insurance company. Keep the receipt and other documents safely with you for future reference, as the receipts can be produced as evidence in a court of law to prove your case.
Verify online
To check the genuineness of policy, you can visit the website of the company and register yourself, so that all your policy details can be verified. You can also cross check about the policy by calling the customer care executives of the insurance company and find out further details about the policy.
Never sign blank claim forms
When filing for a claim, you'll have to fill up a claim form. Do not sign a claim form without filling the details. Take time to fill-in the accurate details to steer clear of any fraudulent activity.
Don't be a victim of an insurance fraud. Stay alert, gather information, take your time, and be cautious.
Don't be a victim of an insurance fraud. Stay alert, gather information, take your time, and be cautious.
Contact your Licensed LIC Agent on 9945689986
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