Everyday we hear people receiving fraudulent calls for purchasing insurance policies from various numbers. They use various terms like Calling from Insurance Verification department, Policy Servicing department, Calling from Ministry of finance, Calling from IRDA and many other. There modus operandi is to first ask the person whether he has taken any policy from private life insurance company and whether he is facing any problem in continuation of policy. Once the person says that he is having the policy and he is having some problem in the life insurance policy the process of 2nd misselling begins. He will ask for details of policy and convince the person that he will help him to get the money back from the insurance policy taken earlier. However the main aim of this fraudster is to again sell a policy and trap the customer. IRDAI is just busy in issuing a advisory that don’t get trapped into fraudulent calls. But till date whether IRDA has taken any concrete action, has IRDA filed any criminal case against the culprit, has it booked any company for misselling. IRDAI is busy and happy in collecting fines from insurance companies and intermediaries. So first you commit a crime and then go to IRDAI pay some fine and again restart your fraudulent business. Thousands of crores are being swindled and IRDA is sitting tight on it. Is this not a organised crime like we are facing in banking sector. In Insurance sector since the duped customer are distributed, the scam is not coming to light. As per some sources thousands of persons employed in call centres are misselling policy and there is no one to stop them. Since insurance companies are getting business they are keeping mum on these fradulent business and show their ignorance about source of business. This is absolutely ridiculous that they don’t know whether their business is fraudulent or not. Since the common man is being duped no body is there to look into plight of common man. I am tagging a number of fraudulent call received by me on 22.2.2018. Mobile number is 7604034267. The person said that he is calling from Insurance Verification department. If you come across any number please tag it here and mention in comment. Lets spread awareness and ring the bell so that message reaches to regulatory authorities.
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