Any calls promising insurance refunds are a scam—walk away

I bought a life insurance policy in 2009 that later lapsed after a ₹50,000 premium.

- Shilpa Arora

Recently, someone claiming to be from “Bima Lokpal” said the amount grew to ₹5 lakh and can be refunded if I first buy a new policy. Can this be a scam? -Name withheld on requestThis is one of the most common types of insurance fraud, and it is good that you paused before making any payment. In such cases, fraudsters gain access to policy data and speak with a great deal of confidence. They know the insurer’s name, year of purchase and premium paid, creating a false sense of trust and lends the conversation as semblance of legitimacy. People fall into this trap as the caller appears well-informed and authoritative.