Is insurance fraud a felony and why you need an insurance


    Is insurance fraud a felony?

    Points to keep in mind to protect your self from Insurance frauds

    Always update your contact details in your policy with your insurer like your mobile no. email ID and correspondence address, so that you can get all the messages sent by insurer related to your policy, like premium due dates, registration of NEFT details, payments under your policy,  changes in your policy or any other alteration in your policy.

    Do not fall pray of rebate in insurance premium, people often hand over cash to agents deducting rebate and become a easy pray of fraudsters.

    No insurance company declare bonus to one customer and not to other and never ask you to deposit money in any account to get the bonus. Do not fall pray of these calls and claims.

    Keep your policy bond in a secure place and share it with your spouse/or trusted person only.
    Never handover you policy bond to anyone in any case, until unless you know the person very well and his where about or to your old and regular insurance agent (keep in mind not only old but regular insurance agent)
    Never engage yourself in any phone calls claiming themselves from IRDAI. IRDAI never calls any policy holder for payment of bonus or to tell you about how your insurance agent is cheating you. If you get the call just go to you branch and check the status of your policy and report about the call to officials of insurance company.

    Add you bank account details to all of your policies not matter how long is the maturity date.
    If any new insurance agent contacts you for new plans don’t take the policy immediately in one visit. Check his ID card and confirm with concerned branch, before his second visit. If its confirmed that he/she is a genuine insurance adviser then only consider taking policy from him.

    Never hand over cash to any new/unknown insurance agent for new proposal/renewal premium to avoid insurance frauds. Pay through account payee cheque only, clearly mentioning Company name and amount in it. Always write purpose of issuing cheque behind it like, “For new proposal in name of ******* for policy 820-20-15, sum assured Rs. 500000, annual premium Rs. *******” or “for renewal premium of policy/policies no. ******“

    Take followup after issuing cheque after two-three days if you do not receive any message from insurance company. (Now a days all insurer send message for completion of new proposal to customers mobile no.)
    If you always give cash or cheque to your agent for deposit of premium then at least check status of your policy in every 6 months.
    Create your online account with insurer to know status of your policies any where and any time you want.

    One can never know what type of mediums and means these fraudster are using, you can only be vigilant to avoid such type of insurance frauds.

    Why You Need and Must Have Auto Insurance and not worry about Is insurance fraud a felony

    Auto insurance fraud and abuse has sadly become quite a common problem over these past few years. As a matter of fact, there has been an unreasonable rise in auto insurance reports and the schemes involved have become quite complex over the years. It has even come to the point that most drivers feel that the rates have increased due to the rise in fraudulent insurance claims filed towards insurance providers. Even to those not committing such fraud, there has been an overall rise in rates for all.

    Auto insurance is an essential part of owning and operating a motor vehicle and isn’t an option, rather a requirement for all. This is due to the liability claims one may be subject to and the monetary situation in the case of a claim made against them by another or in the case that they make a lawsuit against the wrong doing of another driver in the case of an auto accident.

    Read about With insurance the insured agrees to pay?
    Protect yourself through the following tip s that will shield you from paying for a fraudulent and abusive insurance claim.

    1.Get in contact with your insurance provider if you are ever in an accident. It’s essential that you provide all the information attaining to the accident immediately. You will then be directed to the repair shops, rental car services as well as legal advisors in such a case.
    2.Use repair shops recommended by your insurance provider. This can lessen the suspicious nature that can befall those using repair shops not in list with their insurance providers. Remember some repair shops may even charge higher rates and thus abuse your insurance claim.
    3.Be weary about tow truck companies that immediately arrive at the scene of the accident as you can end up with a company that received affiliate fees for taking customers to specified repair shops that may end up charging you more than what your insurance company has in mind.
    4.In the case that you may be injured during an accident, make sure that you keep proper track of all paper work, prescriptions, treatments, doctors e.t.c in order to compare notes with the insurance provider later on and to avoid any inaccuracies which could put you in jeopardy and be a sign of insurance fraud later on.
    5. Never sign any documents from repair shops, towing truck companies, legal advisors, medical providers without reading the fine print. There can be fraud committed just by signing the documents and you could be victimized, yet legally expected to pay for things you had no expectations to pay for ! Is insurance fraud a felony?

    When Will Cars - Is insurance fraud a felony"When Will Cars ____________" by free pictures of money is licensed under CC BY 2.0Is insurance fraud a felony

    is insurance fraud a felony is another question that make me some people in the past. I will bring some clue in this topic

    Remember tell us about your opinion in "is insurance fraud a felony?" and share in Facebook and Twitter.

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    Go up

    This site work with cookies. You must accept this for continue. Read more