How Insurance Fraud getting & Ways for Cheating

Committing of frauds in Insurance business has increased. Fraudsters are posing as representatives, agents of insurance companies, making customers to believe and buy false, bogus policies are considered as spurious calls and cheating in the name of some Insurance companies, has increased in recent times.

INSURANCE FRAUD

• Loans without Interest Claims.
• Attractive Bonus Benefits Tactics
• False Information on Policy Papers.
• Deceived Policy Holders.

Insurance companies seeking police force for cooperation where people set their eyes on Life Insurance companies for easy money earning. Devising innovative methods and tactics to sell polices to customers has increased and trying to cheat people by a gang of fraudsters.

Attractive benefits, loans without interest, extra benefits are selling tactics policies and views are heard that getting high commission rates is the reason for doing these kind of frauds. In these circumstances people should be aware by calling to the companies toll free numbers to eliminate fraud.

Many companies has announced initiative programs to make people aware of bogus calls. It has also requested Economic offense wing to take action against these frauds. Instead of deceiving people to buy their policies and all companies have came to a decision to let the customers to be aware and understand the policy information and after which only policies are collected. After collecting of policies from customers companies are making calls to policy holders to re-explain benefits, rules, and limits. Policy holders has to again approve the policy for complete approval. Companies believed that taking up these actions can prevent fraudulent situations to certain extent.

Specially for this purpose call back service had started for policy holders to call to toll free number for any enquiries

What are the ways of cheating tactics? 

1. You will get calls as representative or agent of a company.
2. To attract customers to buy policy, loans without interest, extra benefits claims.
3. Pressurize customers to pay premium as the offer is valid for limited period.
4. Bogus representatives are sent to customers where they asks to fill the documents.
5. Instead of customers bogus representatives fills the documents with false information and try to get high commission.
6. Old customers are pushed away into problems and they are in search of new customers numbers to fraud.