Rising Life Insurance Fraud in India Affects Policyholders and Prompts Stricter Regulations
3 hours agoBusiness
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TBNthebalanced.news
Rising Life Insurance Fraud in India Affects Policyholders and Prompts Stricter Regulations

Fraudulent life insurance claims are reportedly increasing in India, impacting honest policyholders by raising premiums and slowing down claims processes. Cases range from elaborate murder plots for insurance payouts to identity theft, where policies are taken out without the insured's knowledge. Insurers and regulators are responding with stricter compliance measures to prevent abuse, but these efforts can lead to more rigid procedures and erode public confidence in the product.

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