IRDA Fraud Calls – Beware of fake phone calls

There have been too many fake phone calls in the name of IRDA these days to many people. It have been noticed that these IRDA fraud calls are made by anonymous people claiming that they can help you get your money back for your Insurance policies which have become a big headache those those who invested in ULIP’s traditional policies without understanding them and are stuck in those plans now. They know that IRDA is a body which handles them (do they?). At times investors are so fed up with their policies, their life situations and are so desperate to get help that they believe anyone who claims to help them.

So some very smart people starting calling up people claiming they are from IRDA and they can help them in getting back their money back or showing some kind of hope to help them. There are several instances where some people lost more money falling for these calls and believing in them. Lets see some examples of these fraud calls and how investors again believed them without doing their study.

Fraud Case 1 : Deepak lost Rs 25,000

I also Received a call from a number 01206470443 saying that he is from IRDA and I will get a bonus of atleast Rs. 20000- for the insurance policy that I had taken few years back from hdfcsl. However, I had to make an investment of Rs. 25000/- for birla sun life insurance company. but i have no recieved documents of birla sun life insurance company. Any one can tell what I do for my payment back. (link)

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It was very obvious that their was a fraud done with him and he had either signed some cheque or given DD to someone without understanding what he was doing. He must be very excited to get back some bonus (which didnt exist). He

Fraud Case 2 : How S Dash lost 51,000

I received a call from a lady named Riya Malhotra who said she was from IRDA. She said that IRDA is helping out investors in getting back their long stuck up policy funds. I had one Bajaj Allianz policy which I wanted to close. She said she will help me do it if I take a new policy from Kotak Mahindra or Birla Sunlife

She said that this is a five year term, we pay one-time 51000 now (no more premium payment till 5 years) and we will get 50% of the 51000 in 45 days and after 5 years we will receive approx 76000. However we will get a life cover till I attain age of 100. Moreover we can also recover any insurance amount which we are unsatisfied with within 45 days also. It’s already more than 50 days since I made the payment of 51000 by cheque but I have not received any communications from her. I try calling her @ her mobile. No answer.
Please suggest what should I do? (link)

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Note sure whom did she write the cheque for ? There was no rational on choosing a new policy just to get back the money from old policy, there is no relation between both policies.

Fraud Case 3 : How Vikas Lost Rs 3 lacs

Mere pass call aya ki birla sun life me policy one time karane par ek verna car gift ki ja rhi hai , lekin rupees cash dene hoge maine three lakh rupees de diye lekin aaj ek mhina ho gya na to koi bond paper aaya h na hi mere paise sir plz me kya kru (link)

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I have no idea how a person can believe that if you if you buy a policy , you will be gifted a car ! . Thats too guaranteed ! , That too by giving cash ! .. While this was a fraud call , there was some common sense expected too !

Fraud Case 4 : How Sumit lost his money

In last December 2011 I got a call from IRDA (from number 0120-3050600 saying they are from IRDA) saying that your last policy premium will be recovered as we are from IRDA and we will give one regulatory to Birla Sun Life to return your money back but I’ll not get this amount directly to my account. What I need to do is to take a policy from Aegon Religare for the same amount Rs 36000. This policy will be actually for 16 years with 10 years locking period. But Due to IRDA intervention your policy will be for only 3 months locking period. Your first year premium will be paid by amount from Birla Sun Life policy and I need to pay another Rs 36000 as current year premium and I need to pay next year premium and then 4th year I can withdraw the amount which will be around 1.6L due to some calculation. Over and above that they committed that company will pay agent commission to my account which will be 25% of yearly premium. They will bypass agent from my policy.

They were continuously in contact with me till 18th Jan that I’ll get a separate statement. They know that I can cancel the policy within 15 days of receiving the documents so they were contacting me so that I’ll be convinced and cannot cancel the policy. But after 20th Jan they are neither picking my call nor calling me. So they have found a new way by picking weak vain of customer by giving promise that old lapsed policy amount will be recovered as well you will get agent commission. I had taken this policy bcaz of tenure will be 3 years as well as I’ll get agent commission with last policy lapsed amount.

The person whom I was in continuous contact was Anjali Oberai. Her mobile number is OXXXXXXXX and direct landline number is 0120-4396848. I have called many times on these two numbers to her. Before 20th Jan she entertained all my calls but now she is not picking my call. Also same policy benefits were explained to me by Neha Chaturvedi one of senior person of IRDA from Hyderabad. Anjali Oberai represented Neha Chaturvedias senior person from IRDA from Hyderabad and she came to NCR for some time. Many times I had doubt on them but due to greed of recovery of my loosed last policy amount and getting agent commission I was cheated by them. I know it’s completely my fault. But I would like to take in focus of all so that nobody can be cheated. (link)

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I can see a clear gap in understanding of how life insurance industry works and too much faith in stranger who called up on the name of IRDA . If the policy was really taken from Aegon religare , it should be checked who was the agent in this whole process and nab him/her.

IRDA has clearly issued a notice saying that there is no initiative from IRDA like this 

Insurance Regulatory and Development Authority (IRDA) is a regulatory body established by an Act of Parliament to protect the interests of the policyholders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto.

Some instances have been observed by the Authority that general public are receiving calls from individuals who claim to be representatives of IRDA and offering insurance policies of different insurance companies with various benefits (such as offering of scholarship along with policy etc.).

The general public is hereby informed that Insurance Regulatory and Development Authority is a regulatory body which does not involve directly or through any representative in sale of any kind of insurance or financial products. Any person making any kind of ‘transaction with such individuals/agents will be doing the same at their own risk. If any member of the public notices such instances he/she may lodge a police complaint in the local police station.

Sd/-
(Kunnel Prem)
Consultant and Special Officer (Life)

Don’t fall for IRDA Fraud Calls

IRDA is just a regulator for Insurance sector. They do not make any calls acting as mediator between you and company. All they can do is direct a company for some matter or ask them to follow a guideline. But they never work on individual cases and send people to collect money from you. Even if it did , it will never ask for Cash or any kind of cheque on personal names. These kind of calls are purely fraud done by those who know which policies you have (known somehow) and then they just try to see if you can fall for their false promises. Use common sense because making payment to anyone like this, do not pay any attention to these IRDA Fraud Calls.

326 CommentsAdd Comment

  1. Rakesh

    Thank You Manishji you saved me as i have lapsed my icici pru life premium and the icici people are saying that my first premium 35000 cant get refunded and i received the call from these people. and also told that they will cancel the agent code and get all those money in my account after 180 days. and said me to Invest in Aegon Religare or Bharti Axa which i have selected for Bharti Axa after that the person came and collected the cheque of Rs 20200/- which i have given a post dated cheque and after seeing these kind of messages i called the Bank Manager to stop the payment. Thanks Manishji Once again……

  2. Suresh

    I received a call from 9310974214, claiming to be from Max Life insurance. Helping me get my lapsed insurance policy amount. I should pay 8000 in advance so that they will get me 30000. I asked the lady to deduct 8000 and give me 22000 only. I checked this with Max Life and it’s confirmed a FRAUD. So beware, the number is 9310974214. When she calls next time I can get her details, but will it help nab her?

  3. Abhishek

    I received a call from +91 9266633064 on 08/08/2015 at around 11:30 am.
    The representative called with a name of Venkata Rao from Delhi.

    He started with a very easy question like
    What is the colour of your card.

    Upon such irrelevant question, I asked his employee ID or Badge ID.
    He stammered and then He asked again on my query.

    And then He started with foul names and abusive words and continued for 10 secs(approx)

    Important info to suspect:
    1> A person name venkata Rao in delhi with a very fluent Hindi (sounds as if conversed daily).
    2> the credit card division of HDFC in Chennai and not Delhi.
    3> Provided me with 5 Mega offers but was not sure I was holding a Debit or Credit Card when asked.

    Guys Beware and Be Safe !!!

  4. sikharam

    I am receiving calls for the last three days from Telephone number 0120-4846550 by ‘S K Bansal of CRI department’ asking for my insurance policy number for verification before releasing to me Rupees one lakh additional bonus.
    Some months back a lady kept phoning me to visit her in Bombay to collet bonus to be made available if I give LIC policy details for verification. The Delhi Police cyber crimes refuses to register my complaints.
    Advise me action you propose to take.
    Am ready to cooperate if you would track the fraudsters.
    S P K Gupta

  5. Pravin

    Today (31.07.2015) around 2:30 PM I got a call from Mr. Vishal Sharma(+911204780600) calling from GBIC regarding insurance policy detail. they were asking about which policy I have; either it is from LIC or from private co. and he is asking that is your agent update you regularly or not regarding policy transactions and bonus . after that he tolled me to give your policy detail so that they can give the information regarding how much bonus is credited in your policy. So self has provided policy number than after he asked me about Date of birth, Than Suddenly I suspect that it might be fraud call. so i haven’t provided any information to him and cut his call.

    Than he has provided his mobile number also : 8586992619

    Thanks.

  6. Yasir

    Thanks a lot Manish bhai. I was about to give positive responce to the fraud caller but just thought to google about this first and landed here. He said he will send some representative to my house to start a new policy of 40000/- in Reliance by regenerating some code so that I could get the money I invested in an ICICI policy which has now lapsed. I am thinking to give him positive response so that he sends the representative to my home. My uncle is a police officer and I will call him whenever he comes and then we will see what happens. They should be arrested. Afterall they are bloody thieves.

  7. RAJ

    Thank you,

    This sharing helped Me Lot,

    Iam also getting Call from Delhi ,That they will get my money Back by deactivate the Agent Code and
    create another code in my name…..

    Thanks A lot

    Raj

  8. Indian

    My father is getting call from some Rahul Agarwal Mobile# 7531813595 and they were able to get my father’s AADHAR , PAN Card copy and also some serice tax cheque around Rs. 35000.

    Please be aware of such calls.

  9. Sumit

    Got a call from +911409810298 from Ms. Jyoti Bhagat – IRDA0789 (employee code). Told me that I am eligible for INR 285000 in my account and they want to verify if I have recommended some Neeraj Kumar Sharma to be the beneficiary for the same. The girl mentioned that Neeraj Sharma has claimed to be the original beneficiary of the amount being disbursed by IRDA and hinted that this may be case of forgery.

    She asked me to lodge an official complaint with IRDAI and guided me towards Mr. S K Tripathi (07503297543) – personal secretary to the Mr. Rakesh Bajaj – JD of surveyor department. It was claimed that Mr. T S Vijayan – Chairman – IRDAI himself has decided that the money stuck between the dismissed agents and the banks will be divided among policy holders in three slabs.
    Now this Tripathi wants me to buy a LI policy from Future Generali of exact INR 35000 value for them to verify my existence and to get me on the records.

    During these calls, I was given my IR number, my IMC code, a complaint code against the cheat agent, personal id etc and was asked to not share the details with anyone as otherwise the agent will put his code over mine and get away with 65% – 75% of the disbursements.

    These guys claiming to be a part of Central Government of India are professionals and talk as if they are doing a favor on you by helping you get the money originally due to you. Somebody needs to take action against them as I believe a lot of people are getting fooled and losing money.

  10. Verma

    I have been getting calls from +91 1409-809436, 437, 434 on my mobile for last three days. The girl is saying that she is calling from GBIC and she will like to help me get 291,600 against one of my Insurance Policies that I bought from Kotak Insurance 3-4 years back in which I have paid INR53,700 x 3 years.
    She is calling me and trying her best to convince me to give their representative a cheque for Rs. 28,300 favouring Exide Insurance Company which will be refunded after deducting 2% to my account at the same time when INR291,600 will be transferred to my account.
    This morning she called me to say that I must decide by this noon. Then I will get a verification call and after that a Representative will come to my address to collect some documents and cheques.
    Please advise.
    Thanks & Regards

  11. pushkin

    frequent calls wome to complaint and what action against culprits

    1409190405
    1409450290
    1409683008
    1409765144

  12. N Kannan

    I got a call yesterday and today from a Ms. Anjali Sharma (+91-7428197356) and Mr. Vijay Madan (+91-7428944115) claiming to be from Life Insurance Council (http://www.lifeinscouncil.org/). They talked about their being unclaimed dividend from 2012 and asked about other Insurance related complaints that I had. I spent over one hour over the phone with them and realized something was amiss when with other documents they requested a cheque in name of some securities company. I asked them the office address in Delhi but they asked me to courier the details. Since I got suspicious, I tried call the Life Insurance Council office (but looks like it was closed being a Saturday). I wanted to share this information on this forum so that others are also aware. I am expecting them to contact me again but now I know better. I checked the numbers on TrueCaller and both belong to Vijay Madan but based out of Delhi and not Mumbai as claimed by them.

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