LIC Alert – NEVER surrender your existing policy for exaggerated offers promised by fraudsters, REPORT at spuriouscalls@licindia.com

LIC Alert - Don’t get swayed by exaggerated promises from persons disguising themselves as agents or officials and luring you to surrender your existing policies for another.  Life Insurance Corporation of India (LIC) has warned its existing policy holders to beware of dubious persons who are in guise of LIC agents and officials. It says that these fraudsters could call cheat you. If you are a policy holder of LIC schemes then this information will be of great use to you.  

The cases of online frauds and online financial crimes are on the rise. This latest piece of news will shock you. LIC has learnt about instances where fraudster are calling the LIC policy holders by disguising them as LIC agents and officials to lure people of fat incomes and benefits and robbing them off their hard-earned money. Many fraudsters are even disguising them as officials of the insurance regulator IRDAI (Insurance Regulatory and Development Authority).  

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The fraudsters call people and exaggerate benefits of the policy to lure them and cheat them. They convince people to surrender their existing policies. If you also receive a similar call, then you could lodge a complaint.      

LIC Customers being mislead

The fraudsters are calling LIC Policy Holders and convincing them to surrender their existing policies and opt for more lucrative policies – those which will offer higher returns. The amount surrendered by the LIC policy holders have been invested in other places. LIC in its warnings to the customers has said that it does not encourage policy holders to discontinue or surrender their policies.  

It also warns the customers from taking calls from unverified sources. The customers should also not part with their policy number and other confidential details to anybody.  

It has said that LIC Policy holders should not get tempted from exaggerated offers regarding benefits of certain LIC policy.   

LIC does not share bonus information with the policyholders through phone calls, it says on its website. LIC also never encourages policyholders to discontinue their existing policy/policies, it further said.  

Dos and Don’ts:  

1. Verify the correctness of policy information through website www.licindia.in or contact any nearest LIC Branch.  

2. Register a police complaint along with details of phone number with the police station in your jurisdiction.  

3. Report suspicious calls with brief particulars of the call through e-mail to spuriouscalls@licindia.com  

4. Do not entertain calls from unverified sources.  

5. If the caller is persuading you to surrender your policy to claim extra benefits, do not entertain such calls.  

6. Do not entertain those who offer extra bonuses and higher benefits.  

7. Do not part with your policy details/other information to any caller.