LIC policyholder? Beware of calls from fake agents

Life Insurance Corporation of India (LIC India), the country's largest life insurer, has issued a warning to its policyholders against  spurious calls from people posing as LIC officials, agents, IRDAI officials and promising fake benefits. The alert has been issued by the state-owned insurer in light of the recent incidents of telemarketing frauds.

In its latest alert, LIC says on its website, "Insurance Regulatory and Development Authority of India (IRDAI) has clarified to the public that the regulator or its official do not involve in activities like sale of any kind of insurance or financial products nor invest premium."

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The insurer further stated that the IRDAI does not announce any bonus. It urged people receiving such phone calls to lodge a police complain along with details of phone call and number.

Given the vast market presence of LIC and a large number of policies it disburses, there is always a risk of fraud at various stages. In order to curb the menace of fraud, LIC has strengthened its systems and procedures by automating various processes and reducing manual intervention in data handling.

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Important Dos & Don'ts

Dos:  

• Verify the correctness of policy information through our website www.licindia.in or contact any nearest LIC Branch.
• Please register a police complaint along with details of phone number with the police station in your jurisdiction.
• Report suspicious calls with brief particulars of the call through e-mail to spuriouscalls@licindia.com

Don'ts 

• Do not entertain calls from unverified sources.
• If the caller is persuading you to surrender your policy to claim extra benefits, please do not entertain such calls.
• Do not get tempted by exaggerated promises regarding benefits of Life Insurance Policies.
• Do not entertain those who offer extra bonuses and higher benefits.
• Do not part with your policy details/other information to any caller.