Insurance Frauds Insurance fraud has become a common thing in today’s time. People are cheated and trapped in the trap by adopting various new methods from the fraudsters. You can easily prevent it by adopting some methods, about which we are going to tell in this report.
Insurance is a product, which is not easily understood by everyone. For this reason, many times people also become victims of fraud in this. The great thing is that many times people do not even realize that they are being victims of insurance fraud. Today, in our report, we will tell you how many types of insurance frauds are there and how you can avoid them.
This is the most common method used by fraudsters to make people a victim of fraud. In this, online fake policies are sold by fraudsters to people through phone or email etc.
fraud by agents
Many times the policy is sold by the insurance agents by giving wrong information about the coverage, benefits and premium etc.
Many times the premium is collected from the customers by the insurance agents, but not deposited with the company. These types of fraud cases are mostly seen with people paying for the policy offline.
interest free loan
In order to sell the policy, many times the fraudsters also promise interest free loan to the customers so that the policy can be sold.
Many times the claim is taken on behalf of the fraudsters by forging the policy document and the real policyholder does not get any benefit of the policy when the time comes.