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Beware of the fake calls coming on behalf of IRDA Insurance Verification Department

Fake Calls from IRDAAshish Bhagoria (CEO – HimSamachar.Com): HimSamachar.Com has identified and has been able to expose a new scam of the Insurance Sector “Fake calls from IRDA”. The recent scam is to trap the existing policy holders who are not satisfied with their existing plan and are not getting desired returns, bonus or claims. People across India these days are receiving calls from Telephone Numbers of Metro cities and the tele-callers introduce themselves as representatives of IRDA (Insurance Regulatory and Development Authority). After disclosing their false identity they claim that this call is on behalf of IRDA to address the complaints and grievances of the policy holder. The person receiving such phone call gets convinced and starts sharing the problems faced with the existing insurance policy. On understanding the issue of the policy holders, these tele-callers convince that they will get the refund of the existing policy and the policy holder can withdraw the actual amount of the premium paid to company. These callers, the fake IRDA representatives, keep complete knowledge about functioning of insurance companies, regulatory authority and norms and then they make the other person convinced confidently and smartly with their conversation. When the policy holders believe that these calls are from IRDA Insurance Verification Department from Delhi or Hyderabad, they get trapped and loose more money for getting refund of the existing policy.

First of all, after convincing the policy holder about their false identity, they take policy details like policy number, policy holder and nominee details. After that they login to computer and access the complete details of particular policy, account statement, premium paid, existing fund value and the charges deducted by insurance company. Once they give all financial details to the policy holder; the policy holder builds more confidence over them that if these callers are able to access their account details, they are genuine people. Then they give two options to policy holder for settling the issue. The first option they offer is to surrender the policy through them to get the entire refund of money and its actual value. If the refund is processed through them, they will also pay back the agent’s commission and all types of charges deducted by insurance company till date. And if the policy is surrendered at branch office of insurance company, the policy holder will get only current value as per plan and will also have to pay additional surrender charges. Obviously, the person will prefer getting refund of entire money through IRDA representatives for financial benefit and from the branch of insurance company. The second option these callers offer is to convert the existing plan to a guaranteed plan through them where a fixed rate of interest will be given.

Finally, when the policy holder gets ready to get the claim settled for refund through these people, they put a condition that for getting the refund the person will have to buy another policy from them. The cost of premium to be paid for new policy of a different company generally is equal to the annual premium paid for the existing policy, which can between Rs 25,000 to 1,00,000. The new policy is to be purchased only through these fake IRDA representatives. These people, then, convince to deposit this money to their bank accounts or make a cheque in favour of the company whose policy is being sold. And they also claim that the refund of the existing policy will be transferred to the bank account of the policy holder within 45 days from the date of buying new policy. The refund will come from IGMS (Integrated Grievance Management System) of IRDA and they are calling from IRDA Grievance Call Centre to help the policy holders.

To get immediate relief when policy holders deposit money into the accounts of these fraud agencies, they never get any kind of refund and don’t even get a new policy. Many people across India are being cheated by such fake calls and the most important thing to investigate is that who are the actual people behind this scandal. HimSamachar.Com made an attempt to understand their modus-operandi. Actually these people are agents, advisors, broking agencies and franchisees of insurance companies. These agencies have their account codes with all insurance companies through which they are able to login to online software of a company and are able to view the policy details of a particular policy number with few verification details, which they already obtain from the person being trapped. These tele-callers do not have any connection with IRDA. Since, they are working in insurance sector, they have some knowledge about IRDA norms and policy plans. They make best efforts to convince the other person. For getting more business they attract people to buy policies of other companies for which they get good commission. First of all they will try to take money into their personal account. If the other person refuses to do so, they ask to make a cheque in the name of insurance company, which they will actually use for paying a premium of someone else’s policy for which they have already collected cash. And last of the last even if they issue a new policy, they earn good money as a commission or brokerage. If the policy holder tries to act smart and want to know the status of the refund, they submit a complaint on IGMS of IIRDA and give the reference number of complaint.

This new technique of making easy money could only be developed because there are many dissatisfied customers who have invested money without having complete knowledge of insurance industry. There are many Insurance Companies in India and millions of agents, advisors and franchisees working for these companies to make good money out of pockets of investors. In most of the cases the customers are sold policies without giving them required knowledge and without disclosing the details regarding commissions, type of investment, term of policy, lock in period, risk factors, maintenance charges, premium allocation charges, administration charges, surrender charges, mortality charges, switching charges, partial withdrawal charges, fund management charges and miscellaneous charges. At the time of maturity or surrender of a policy when policy holders do not get what they have been committed at the time of selling a policy, they get frustrated and feel cheated. And this frustration makes them victim of such fake calls where they loose more money in hope of getting benefit from existing computer.

Therefore, we strongly recommend our readers not to entertain any phone call offering gains through insurance, lotteries, gold and all alluring benefits. They should immediately report the matter to police with the phone numbers of calling agents. We further advise our reader to be careful while buying an insurance policy and should know the complete details by visiting the nearest branch office of the insurance company before investing the hard earned money. Insurance policies are for protection of money invested by investors and all matters should be resolved with branch office of company or with competent authorities.

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28 Comments

  1. Dayanand Srinivasan

    I just received a call from +91 1316452014 from a guy who said he was from Insurance Verification and Compliance Department. The guy asked me if I was getting regular dividends from my LIC policies. He also asked me if I was holding Insurance policies from any company other than LIC. He said I wasn’t getting dividends because my policies were routed through agents.

    I immediately googled the problem and luckily found about this fake call. So, I asked the guy their website address which he fumbled “www.irda.com” but the actual site is http://www.irda.gov.in“. I caught the FRAUD red-handed.

    Thanks to you Himsamachar 🙂

    Reply
  2. Atul

    Hi,
    I also got these kind of 2 call from IRDA: Integrated Grievance Management System(IGMS).
    Thanks all of you, at least return about them. Rarely these type of call is fake…

    Thanks once again!

    Regards,
    Atul

    Reply
  3. ASHISH BANSAL

    Thanks a lot you people because of you only I could save my money from fraud people. I m receiving same type of calls since last 15 days. Today again i received a call from 01204348292. These people were calling me from another no. Today they called me by this no. And transfer my call to a self claimed IRDA officer Suresh mathur whose no. Was 7827670392(he self gave me his no.). He convinced me to buy a new policy of 30000/year. A thought came In my mind and I just googled this issue. And thanks god I got this very informative news. I have already mailed to IRDA.
    REGARDS
    Ashish Bansal

    Reply
  4. ASHISH BANSAL

    Thanks a lot you people because of you only I could save my money from fraud people. I m receiving same type of calls since last 15 days. Today again i received a call from 01204348292. These people were calling me from another no. Today they called me by this no. And transfer my call to a self claimed IRDA officer Suresh mathur whose no. Was 7827670392(he self gave me his no.). He convinced me to buy a new policy of 30000/year. A thought came In my mind and I just googled this issue. And thanks god I got this very informative news. I have already mailed to IRDA.
    REGARDS

    Reply
  5. Nitesh Sethi

    I got two fake calls today. 1st from a number 1409304157 claiming to call from IGMS. 2nd from 9643492949 claiming to call from LICI H.O.
    The person claiming to call from IGMS had information of my rejected Mediclaim. He said that he will forward my complain to relevant department for sorting out the claim. On my cross-enquiring about his authenticity he could not answer any questions. I called the number back but the phone number was not valid.
    The person claiming to call from LICI H.O. was also trying to get information of my policies which I did not reply. On my threaten to complain he was least bothered. I called the number back but nobody answered.
    I also checked on IRDA call centre regarding above wherein I was told to file a police complain. I am sure I would be wasting my time to probe further.
    The only solution is to make people aware and do not fall prey to these CHEATS. I am sending a message to all my connection in social media highlighting the issue and for this time the above numbers. Request others to highlight wherever they can. Hope it makes a difference.

    Reply
  6. Abhinandan

    I also got these kind of fake calls many times. When i got the call 1st time. I also got convinced to the caller, he introduced himself as representative from IRDA. I was on the way to give him my policy info. But during the call i felt that caller is little confused and hesitating at some points. On my some questions he denied to give answers. Then i stopped to provide him info. And after the call i checked IRDA website. But didnt find anything informative.
    After few days i got to know about these fake calls. Then i made my mind. That i will never provide anykind of info. Over the call. Without knowing the person properly.
    Today again i rec. The call. I asked him his company name.. caller has no answer. He kept the ph on hold discussed with someone and disconnected the call. Again he called me aftr a min. I asked him his company website. Again he has no answers and disconnected the call.
    everytime He was just keep asking me my policy info. But i was alert already. On 3rd call from him. This time some other person was talking with me with some anger n irritation. I think this was due to my diff. Questions to them. And also i was not giving answers to their questions and also i was little rude with them. After some minutes of fight over the phone. He again disconnected the call and never called back.
    This time i am searching for some kind of helpline no to complain about these fake calls. If anyone knows plz let me know.
    And i made mind to post on this Blog.. so that everybody must be alert, attentive during unknown calls. And everyone. Please please never provide your personal info. Or any kind of info. Without knowing the caller properly and clearly.
    Atleast convince your mind twice.. and must speak in your family and with frends too about these fake calls. At least save 1 person from getting cheated from these basterds.

    Reply
  7. RL

    Hey ….I too got a call few days back from +911409807245/+911409807244/+911409807247 claiming that they are calling from LIC headoffice. They are very smart and convince very well. There should be a widespread awareness made on this regard to everyone as there seems to be no stopping.

    Reply
  8. Pawan

    I am also getting such calls. These callers are extremely bold and seem to be not scared of any police/government action. From other comments, it is evident that most of the victims do not have time to go to police or do not expect good expirience in making police complaint.

    I too will tolerate some more calls rather than go to police because once my car battery was stolen at night and insurance company asked me to file a police complaint. When I went to the police station I actually felt more harrassed as they said that their area is well guarded and battery cannot be stolen and I must have left the battery at mechanic anf driven the car home!

    Further nowadays all premium collection agents have easy access to entire LIC policy details.

    Reply
  9. Raja

    Hi,

    There is a New Fake Number +91-9312999003 saying LIC Policy verification Team from delhi claiming that there is a bonus amount which is not claimed and we got the cheque back which is not claimed.

    I have took some time searched on Google and found hell out of people getting the calls.
    If you talk about complaining in Police station they will talk rudely hence Simply say that I don’t want to claim the bonus.

    Help others to know this…

    Reply
  10. VD

    i got the call from Delhi land line number. the guy told his name Ajeet Aggrawal and was enough. He asked me to give my address and details of my LIC policy. When I asked him about his office address he gave a fake address. i am quitely surprised that how Modus operandi for frauds are being invented day by day.

    Reply
  11. Rahul

    This has not stopped yet. I got a call from so called Rahul Mehta. from 9310411107. First one lady talked to and pretended as she is from LIC and talked to me about bonus. She told me that your agent has not claimed your bonus and if you don’t act immediately you will loose bonus. She provided secrete bonus code 🙂 also. Then transferred my call to Delhi office (surprisingly same number). Then Rahul Mehta asked me to buy HDFC insurance policy to claim full bonus. He told me that I should have policies from LIC and HDFC to claim bonus. Please stop this otherwise people will be trapped. Can anybody tell me how can I take this forward? Not sure whether Police complain in local station is sufficient

    Reply
  12. Srikar

    My father had a similar case where the calls came from 917836606453 several times saying they were from Insurance Regulatory Authority and they tricked my dad into buying 3 policies worth lakhs of rupess. They made him believe that his previously matured LIC policy had some balance amount which they would like to pay him back. They could do this directly through LIC and make payment where he will lose 40% of the amount for taxes or he could buy 3 policies and cancel them later and they would pay the full amount.

    I am posting this information so someone could be saved from this fraud. The policies seem to be real but the amount that they promised is just to make one believe in them and buy the policies….

    If someone has already faced this issue and brought some policies, you can cancel the policy within ~ 15 days from the time it was issued ( you could confirm this with an insurance expert) and as per law you should be given back all the amount you paid for it ( excepting some minimal charges as fine for cancellation).

    If you have written a check which has not been processed yet, you can make a stop payment for which you will be charged a minimal fine amount and the payment can be stopped.

    Reply
  13. Pankaj

    Kunal from LIC
    9213865960

    Sir you have got dividend and if you don’t tell the policy details it will be cancelled and 40%
    Will be taken by agent.

    Reply
  14. vd

    i got a similar call too, the phone lines werent very clear, and they didnt seem like people trying to help or something, he asked me to withdraw the insurance policies what i have since the agent is taking 30 % of the commision and they are cheating me and so on..
    But i didnt ask them as to what i should be doing, instead i told that i will be suing my agent for not mentioning to me about the commision and all that, and that i will be going to the consumer court for this.
    IF i get a call once again ill ask them as to what i should be doing regarding this, and if they are asking me to invest in someother policy or transfer the money to anyother account , i bet it is a fraud and nothing else, hope people dont fall prey to such shady calls….

    Reply
  15. sumit

    I also got similar call.. Stupid lady(Sneha kapoor, not sure if name would be correct or not) was saying you get your money back for a term plan also and she can help me 🙂 LOL

    Reply
  16. J R Jadhav

    I got a similar call stating that IRDA wants to give some bonus etc from a number: 08459012005….I gave him right level of peace of mind since I knew this ….why Police is not able to trace them inspite of having all numbers here…

    Reply
  17. jay menon

    my mother got calls from one bhaskar khanna amit rawat riddhi bharadwaj about LIC bonus on her policies in the month of may as her agent who died didnt claim bonus . they asked her to invest in policies for a leading insurance company inorder to claim bonus of LIC . my mother kept investing a amount of 3.25lacs in different policies of the insurance company inorder to claim the LIC Bonus of 12lacs , they gave us a date of january 18th when our money will b credited and our policies bought for claiming d bonus will b cancelled automatically when I intervened inbetween on january 18th to send them the copy of cheques issued in our name and the receipt of the cancelled policies they stopped answering and we soon realised it was all fake calls but it was too late. these bastards got LIC data of all lic members and still fooling people . their nos are as below
    8510879189
    8588004977
    will not spare them any time.

    Reply
  18. Indian Citizen

    My mother has been recieiving similar calls from the insurance verification department- Sameer Malhotra – 0120-4844550, who were very confident that the insurance policy file has come to them and they wanted to keep a check whether the LIC agent was giving her all information about the earned Dividend or not. Unfortunately I gave him the policy number but later realized that he was so rude while talking and call center people cannot talk rudely on recorded lines. I quickly ssearched the net and found this thread where people complained of similar calls.

    Sameer was supposed to call back with details of the LIC “BONUS” which we should withdraw via him and save a 45% commission that is deducted if we withdraw it via our branch. I’m not sure if he can misuse the policy number or not but pls be careful.

    We must stop these goons from disturbing our peace of mind and security !!

    Regards

    Reply
  19. Saurabh Pandey

    i also received several calls from 01409304176,75,74.
    How they become know about policies done by us !!!!!

    Be aware and let the other pepole arround you about this.

    Reply
  20. VISHAL

    I also recived the same call yesterday from delhi Ph(011-165909013) and saying the same that you recived gold , silver bonus but you have to buy one new Reliance insurance policy…Fucking ppl wasted my 40 mins of time…Be aware don’t trape.

    Reply
  21. suneel Mishra

    I Got a call today from IRDA. A lady called me up for some amount to be allotted against IRDA benifits.. though, I have disconnected the call… the fucking bitch was so confident that she was a Govt employee. Why the hell these people cant be trapped…Why these bitches are not afraid about anything.

    The no was..9136212711…Whenever u get a call from this no, just say… u fu**ng bithch…still not satisfied.

    Reply
  22. prakash

    I too got the similar call today from number 0120-6090995..
    I was wondering why any authority don’t take any action against such people .

    Reply
  23. Nishi Malhotra

    I got a fake call from Tata Indicom number stating it is from Insurance Verfication Department number 011 – 65695129 stating that a benefit amount is due on your Insurance Account. I am clueless to such Department or calls

    Reply
  24. Chandra Shekhar

    I received a fake call claiming it to be from IRDA. The call was made by a Lady claiming it to be from IRDA. Her number is 8459657718. When I check in True Caller Apps, It shows on the name of LIC Singh.
    She had my information such as: My address, some of my policy details. She started the communication that, I have put a complaint with IRDA that I want my maturity amount to be credited to a particular account and not to be sent via cheque. She also stated that she has the complaint letter signed by me which mentions all these things. I just want to make you aware of such fraudulent exercise which is very prevalent these days.

    Reply
  25. Gandha

    Got a similar call from this number today: 01409305246 — trying to give me some story about some bonus on my LIC policy that I will loose if I don’t submit the documents today. First there was a lady who said she is from LIC, then she transferred to someone who claimed to be IRDA. After little bit of cross-questioning, the person cut the phone saying he will send details on my e-mail ID. I am surprised why these numbers are not tracked and fraudulent people arrested.

    Reply

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