These days a new kind of scam is in news. Let's understand it with the help of an example - Manoj decided to buy an insurance policy from an agent. He called the agent to his house and properly verified the offer document before signing. He issued an account payee cheque in the name of insurance company. After two months he got worried as he did not receive the policy bond. So he decided to call the agent from whom he had bought the policy. He tried for two days but could not contact the agent because the agent's mobile number was no longer in use. Then he went to the company's office to find out the problem. There he was told that the company had no records about his policy. He showed a photocopy of the cheque issued by him and also contacted other senior officials of the company. In spite of all his efforts he never received the policy bond or his money back.
What to do ?
1. How these agents get money from an account payee cheque is still unknown. So bottom line is do not trust an unknown insurance agent.
2. If you don't know a reliable insurance agent then it's better to go to a bank personally and complete the formalities over there. At a bank you should not be cheated in such a way.
What to do ?
1. How these agents get money from an account payee cheque is still unknown. So bottom line is do not trust an unknown insurance agent.
2. If you don't know a reliable insurance agent then it's better to go to a bank personally and complete the formalities over there. At a bank you should not be cheated in such a way.
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