Elders 
A s more elderly citizens choose to invest in medical insurance for peace of mind during their golden years, it is important for them to be aware of the increasing threat of medical insurance fraud. Whether it is a fake claim, a
dishonest agent, or simple paperwork error, fraud may lead to a denied claim, cancelled policy, or loss of money.
What Is Medical Insurance Fraud?
Medical insurance fraud occurs when someone provides false or misleading information to deceive vulnerable people, such as senior citizens looking for the best amongst several insurance policies.
For example, a scammer claiming to be an insurance agent might call you and promise you an insurance policy that is unbelievable, like “full coverage for all illnesses” for a ₹25 lakh sum insured with a premium of only ₹35,000, while asking for your Aadhaar, PAN or bank details. Once you pay them and give them your personal information, these scammers vanish with your money and your information that could be used later.
In other cases, dishonest agents might sell you a fake or worthless policy, mislead you about what is actually covered and even omit important details to close the deal. Some hospitals too, may generate fake medical bills or reports to claim money from insurance companies, often without your knowledge.
How Can You Protect Yourself?
Here are a few simple steps to avoid falling into such traps:
- Read Your Policy Carefully: Take time to understand what is covered and what is not. If you're unsure, ask a family member to help you go through the document.
- Buy Only from Trusted Sources: Always purchase health insurance through IRDAI-approved insurance companies or agents. Avoid random calls, especially WhatsApp calls or messages, or strangers offering too-good-to-be-true deals.
- Use the Free Look Period:Every health policy in India comes with a 15-day free-look period. Use this time to review your policy and cancel it if it doesn’t meet your needs or if something seems suspicious.
- Talk to Your Family: Let your children or trusted relatives help with online claims, payments, and document reviews. It’s always safer to have another pair of eyes.
- Never Pay Premium Upfront: Insurance requires a lot of paperwork. Never pay a premium upfront without verifying all details very carefully.
Medical insurance is there for you to support you in times of need, it should not become a source of stress or monetary loss. So, never trust any broker, agent, or stranger who makes tall promises without showing proper documentation. If someone claims to be an agent, always verify their credentials through the insurer or check if they are registered with IRDAI and when in doubt, don’t hesitate to reach out to your insurance company directly, or ask your family for help. It’s always better to ask questions first, than face regret later.
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