Biggest Insurance Scam in India 🇮🇳 - YouTube

...Well, it will surprise you when you will know what you are going to learn from this

video that what happens in India.

Between 2017 and 2019 in Haryana, some incidents have happened which will amaze you and have

already been declared the biggest insurance scam in India.

So I will tell you what happened in that scam.

So between 2017 and 2019 majority of the insurance claims are of road accidents to the insurance company.

We know many road accidents happened daily in India but I will tell you what is different

in this claim.

The majority of road accidents in Haryana happened in Hisar and Sonipat and also Panipat.

So in these three cities road accidents happened and it seems that people who died of road

accidents are farmers.

It is bad that farmers are dying due to road accidents.

Now you will feel that people are driving wrongly and it happened due to truck but there

is something after all this.

A few things are common first is they all are farmers, and the second is they have not

taken insurance earlier and have taken personal accident insurance a few months before dying.

You all know personal accident insurance is cheaper you can get claim up to 25 lakhs by

just taking insurance of 5000.

One person has taken Insurance of 5000 and it is proved in the postmortem that he had

an accidental death so he will get the claim of 25 lakhs.

Amazingly, these people had taken not only one Insurance of 5000 but on an average 4

Insurance of 5000 rupees.

So the insurance company has around 100 cases which include total compensation of 100 crores.

So for one kiss company has to pay around 1 crore rupees but let's see what happened overall.

A person Sachin Dhol registered a complaint in Haryana that his uncle died due to a road

accident on 7am 1st April 2018.

His uncle has been hit by an i20 car not only this almost every FIR is the same as above

like hit by a car, got hurt his head and died before reaching the hospital.

Now investigators have observed three common things and the frequency has been increased.

So they found out that a whole gang is involved in this scam.

They have discovered a way to earn money from 5000 to 10000 insurance premiums and take

25 to 30 lakh insurance claims.

Now the farmers are not normal farmers they are either very poor or are suffering from

a disease like cancer.

So they provide these farmers insurance by paying their insurance premium and assuring

their family to pay money after their death on some conditions.

So after his death everything is planned accordingly and sequentially not only one person is involved

in this but the policeman, doctor, and insurance agent are also involved in this chain to show

that this is all genuine to get claim.

Now when Sachin is registering his FIR his wife is also present at that time which means

the wife becomes his witness on the spot.

One thing also has been observed that the PAN card and bank account of the Nominee has

been applied a few months before the claim which means they do not have a PAN card and

bank account at the time of the death.

So it is not so obvious but I said it is not only one case but hundred cases.

And the investigation has the biggest scams in India.

Now a major loophole has been discovered that if I pay a less amount I can take a higher

insurance cover.

this was planned by gang to scam in actual we talk about insurance then its best instrument to protect capital.

Now we cannot ignore three insurance namely, Term insurance, Health Insurance, and Motor insurance.

In Term insurance, you have to pay a lesser amount but the sum assured will be given to

the family if the person dies.

If it is taken at a younger age like 18 to 20 years old at a rate so he can take crores

of risk cover by giving small amount.

This is best about term insurance and amazing thing is

You are allowed to take 20 times of your annual salary as sum assured

So it is like savings for the family.

If the earning person dies in the family, then his family gets 20 years of savings.

Second, Health Insurance, now we all have suffered from covid and we know there are

a lot of diseases out there.

In hospitals, the bill amount has been rising above lakhs even if a small injury happens.

At that time your saving account would not be suffered so Health Insurance is mandatory.

Before Health Insurance I will talk about Motor insurance because it is compulsory.

After all, if motor insurance is not available it will lead to challan.

So now it is understood that we cannot ignore this insurance but I think you have to focus

on health insurance because you will take motor and term insurance.

Because if age is less and take term insurance on time so on less amount you get cover of crores.

Now let's talk about health insurance, nowadays you don't have to talk with a policy agent

there are many applications out there like Policybazaar you can get more than 250 plans

in Health Insurance.

Where you can get 1 crore insurance at 400 per month premium.

400 is nothing you get a pizza for it but if you get health insurance then your savings account won't be affected.

One more thing needs to be taken in health insurance if you are employed with a company

and you have corporate Health Insurance it will be valid until you are working with that

company.

In Covid Times, many employees are expelled along with their Health Insurance has also

become invalid.

If you believe your corporate Health Insurance is not sufficient you can bear higher expenses

so you should always focus on individual Health Insurance.

You can do an instant purchase and no medical is required.

And if you pay the tax you can get 75000 benefits under Section 80D, and here you

get 100% claim assistance within 30 minutes and if a needed representative of Policybazaar

will stand behind you in the hospital at the time of claim.

Policybazaar has a dedicated department for claim settlement and also you get a dedicated

relationship manager from Policy Bazaar.

So why I am telling you about the policy bazaar because it is online the easiest steps to

follow for taking Health Insurance.

You can get any insurance from Policy Bazaar and I will put a link in

the description so that there is no agent required and you

can get the benefit of any insurance you needed.

Now we understood terms, health, and motor insurance but I have given you an example

of the biggest scam in India which was fully planned.

If you see the sentiments farmers are chosen to claim high insurance.

Besides, there are many motor insurance frauds in India.

Today everywhere there are CCTV cameras People have put their cars on fire, stolen their cars, and tried to claim insurance from companies

And certainly, people are doing this for health insurance in India by tying up from hospitals

and making fake bills where ultimately the person has no such problem.

But is this practice right?

If the ways Indians are earning money right?

According to me, there are many ways to earn money so we should avoid these practices.

Ultimately if a person's mindset is working like this if he uses it in

a positive direction then nothing is impossible.

The purpose of this video is to aware people are earning money wrongly from health motor

term insurance.

So I hope from this video you have got information about insights and ongoing practices in India.

I have given you information about Policybazaar that you can take insurance from this.

How much did you like this video please tell us in the comment section?

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I will see you in the next video till that time you go self made