FRAUDS RELATED TO lapsed life insurance policies are on the rise with spurious calls being made to policyholders to help revive such policies.
While insurers are putting in place various measures to handle complaints regarding such spurious calls, individuals must ensure that their life policies remain active and the premiums are paid on time. In case the policy lapses, one must approach the insurer directly to revive the policy after fulfilling all the conditions.
Fraudulent calls
Dubious agents make calls promising to revive a lapsed policy if the policyholder pays a certain amount or even claim that the insured will receive the amount of the lapsed policy if they buy a new insurance policy. As it is difficult to ascertain whether a call is authentic or not, the policyholder must call the customer care numbers of the insurer and seek an email from them with all details. All the payment must be done to the insurer's account.
This story is from the November 30, 2022 edition of Financial Express Mumbai.
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This story is from the November 30, 2022 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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