Common con tricks
Bullet point insurance fraud
The insurance intermediary (agent or broker) steals premium by not forwarding client’s payment to the insurance company; or the insurance intermediary manipulates policy by false instrument and without the policyholder’s knowledge. These frauds include withdrawing dividend or loan by falsifying policyholder’s signature, and deceiving commission from the insurance company by making false policy.
Advice
- Do not pay the premium by cash;
- Confirm your insurance policy with the insurance company;
- Regular check the monthly or yearly statement; and
- If you find any suspicion in your insurance policy, make enquiry with the insurance company directly.
