LIC policy holder? Take these precautions to avoid fraud

In the LIC advisory, tips to prevent fraud are given to those who have taken the LIC policy. 

LIC policy holder? Take these precautions to avoid fraud
Always make LIC payments through NEFT as this mode of payment is fully safe from any kind of fraud, says LIC advisory. Representational Image, source: Pixabay
By ZeeBiz WebTeam
Updated: Thu, Jun 13, 2019
05:53 pm
New Delhi, ZeeBiz WebDesk
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Millions across the country put their hard-earned money to become Life Insurance Corporation of India (LIC) policy holders, but often their hope of earning better returns gets a blow. Because in the name of the policy, many fraud cases are coming to fore wherein innocent people loose their money. Taking this aspect into consideration LIC issues advisory from time to time to inform common people to keep them away from any misleading call, messages or email offering policy at lucrative returns. 

In the LIC advisory, tips to prevent fraud are given to those who have taken the LIC policy. Customers are advised that prior to taking a policy, precautions given below should be taken, according to LIC. 

1. While paying your policy premium through cheque, you should do the same in favour of Life Insurance Corporation of India. If someone asks you to issue the cheque with any other name, you should refuse it and also inform the LIC in this regard. 

2. Always check your policy status on LIC's official website-www.licindia.in, and keep a tab on it to get the policy update.

3. Do not sign any document provided by the agent without reading it. Do not do it in a haste, rather you should take your time to read the terms and condition or any document. By doing this, you can avoid future problems.

4. Never give original policy documents to anyone. LIC never gives authority to any person to collects the original papers of the policy from any policy holder.

5. Beware of offers on the phone, as it is not necessary that caller is actually an LIC agent. Prior to taking any policy or making any payment, make sure that the person is an LIC agent.

6. LIC never contacts policy holder on phone for bonus or outstanding installment. Such calls can be a spam call.

7. Always make LIC payments through NEFT as this mode of payment is fully safe from any kind of fraud.

Under its Anti Fraud policy, LIC has appealed to all its policy holders and other persons associated with it to let them know if they get to come across any kind of fraud.

For this, you can contact any branch office or send an email to co_fraud@licindia.com. Apart from this, you can also write a letter at this address: Life Insurance Corporation of India, Personnel Department, Central Office, 5th Floor West Wing, Yogakshema, Mumbai- 400021