Insurance Fraud, Elderly Woman Loses ₹40 Lakh

Mumbai: A 61-year-old woman lost almost ₹40 lakh after an accused posed as an executive from Life Insurance Corporation (LIC) India and asked her to pay the amount as premiums and service charges beneath the pretext of offering her insurance coverage that may get her ₹70 lakh on maturity.

According to the authorities, the complainant, a resident of Dadar (West), took voluntary retirement from the post of a senior executive in 2020 out of MTNL. She explained that in 2015, somebody who discovered himself as a fund manager from Life Secure and Tax Savings Policy called her and informed her that she had earned ₹1.70 lakh on her LIC policy number IR/3103/B095.

They said that the corporation will release the money to her only after she takes another policy worth ₹40 lakh.


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