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Insurance Article

This is How you can Stay Vigilant against Fake Insurance Calls

February 28 2019

By staying aware and vigilant, you can prevent the fraudsters from filching your hard-earned money through fake insurance calls

In the digital age, obtaining an individual’s contact details is a piece of cake. And scammers are privy to this information. An online survey conducted by ‘TrueCaller’ in 2017 revealed that Indians waste over 63 million hours every year on fake insurance calls and other such scams.

Earlier, telling these scams apart was easy and obvious. However, today the scam artists have perfected their art and their schemes are more detailed. With lucrative offers that they pitch and limited knowledge about such ponzi schemes, you could lose your money in a flash. That is why it’s crucial to be aware and stay vigilant against these fraudsters, so as to prevent them from duping you of your hard-earned money.

We have listed below some basic tips that will help you to protect yourself and your savings from such diddles:

  1. Do not provide any personal information

  2. When scammers contact you, they will try to obtain some personal information for fraudulent use. They can ask you to reveal your private details such as your name, contact number, e-mail id, residential address, date of birth, and your general insurance policy details etc.

    If the caller continues to ask such questions with the pretence of verifying your account, chances are that you have been contacted by a scammer. You can hang up the call or contact the insurance company to verify.

  3. Stay Alert and vigilant

  4. With time, scammers have learned how to tap into customer databases and manipulate the system to make their schemes sound more credible to the listeners. In certain cases, even if you initiate the phone call, you might be at risk. Refrain yourself from giving any personal or financial information over the phone.

    If you suspect a scam, you can ask the caller to send you an official e-mail about their schemes and then you can double check its authenticity. As a last resort, you can ask the caller to set up an appointment at the nearest branch of his/her insurance company. Fraudsters may hang up the call or make an excuse to prevent this!

  5. Verify the offers with the insurance company

  6. If you are contacted by someone posing as an employee of an insurance company, who is insisting you to buy new policies with lucrative benefits that are too good to be true, think twice before you act. They may begin by verifying your details and then ask for your card number or bank account details to initiate the purchase of new policy.

    If they are scammers, they will provide you with fake helpline numbers or insist you to take immediate action. Do not fall into such traps and instead, contact the customer care helpline of the mentioned insurance company to verify if there are any such offers available. Never share your card details and other private data with anyone over the phone call.

  7. Keep your calm during such calls

  8. Scammers who make fake insurance calls often concoct stories around deadlines. They might ask you to cancel your active insurance plans and purchase a different policy to continue receiving the benefits. Creating this fake narrative helps the scammer to scare you about the potential losses and under this pressure, you might divulge your details.

    Therefore, beware of false deadlines and try to remain as calm as possible when you receive such calls. Remember that insurance companies will never ask you to cancel your existing policies over the phone.

  9. Report Scammers to the police

  10. After tackling with these fraudsters smartly, the next thing you need to do is report about them to the insurance company and local police. By doing this, you can prevent other individuals from falling victim to such swindling schemes. First, you should block the number on your phone and then, make a call to your local police department or tollfree helpline number for cybercrimes (1800 209 6789) to register a complaint with them.

    These tips can help you stay aware and tackle the fake callers astutely. Such scammers often gain access to a customer database and target senior citizens or those with limited means. It’s better to stay informed against fake insurance calls and more importantly, inform your parents or grandparents of the same. Creating awareness is the only way to counter these fraudsters.

Related Article:

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Why Is Insurance Still Not a Priority for Most Indians?

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