Insurance: There is a benefit to buying anything online, whether it is an electronic gadget or insurance. Over the years, technology has changed the way we buy products and services. The online option has many advantages as it is a simpler medium and avoids heavy paperwork and agent rebates, but there are also some risks associated with it. It has become easy for fraudsters to reach people through online medium. In such a situation, it is necessary for you to be alert to avoid being a victim of fraud.
(1) View the goodwill of the company
It is necessary to ascertain whether the company is capable of meeting the policy claims in future. You should check that, how stable is the company, how is its track record and how is its reputation and reputation in the market.
(2) Check the license
Most of the insurance companies provide online and phone based means for insurance sales and insurance related services. But you should keep in mind whether the company has a license from Insurance Regulatory and Development Authority of India (IRDA) to sell insurance. You can see their list on the website of IRDA or General Insurance Council.
(3) Be careful while making payment
You should try to pay the insurance company directly on its website or online through an account payee cheque. Check that you pay only on the insurance provider’s recommended site, as it will have a secure SSL-enabled payment gateway.
(4) Stay away from Wi-Fi network
Wi-Fi networks can be used by scammers to steal your personal information. Be careful when transacting through these networks, make sure you sign out after using all public computers and use an encrypted connection when you pay online.
(5) Read Customer Reviews
One should check the reviews posted by the customers online to know the kind of service the insurance company provides to the customers and its attitude towards settlement of claims.
(6) Do not click on any link
If you are asked by the insurance company to click on a link through phone or mail, then you should click only after verifying the identity of the company. Stay away from giving out any personal information of your own.
(7) IRDAI does not sell insurance
IRDAI, which is only a regulatory body, has been created under the jurisdiction of the Ministry of Finance to regulate the insurance industry. If any person or company tries to sell insurance in the name of IRDAI or asks for personal information from you, then you should understand that he is a fraud.
(8) Greed is evil
The customer should buy such an insurance policy that offers more benefits at a lower premium, but in doing so you should also ensure that no important parameter is missed. Fraudsters will try to lure you by offering low priced products, unrealistic benefits and free schemes, but you have to be careful.
(9) Avoid signing
To entice those who face trouble in buying insurance online, fraudsters try to get them to sign the fake form and make them pretend that they will scan it and upload it and you will get the insurance online. You should stay away from signing insurance application forms.