Do's and Don'ts To Avoid Fraud
Do's
Follow these guidelines to keep your life insurance policy safe and secure:
- Ask for an ID card from an insurance agent or salesperson of the broker / corporate agent (CA). Verify if such an agent/ broker / CA is associated with the insurance company or the regulatory body (you may use the “Agent Locator” tool available on the IRDAI website for the search of an insurance agent) before disclosing any personal or financial information.
- Thoroughly read the product brochure or visit www.canarahsbclife.com to understand all features and benefits before purchasing the plan.
- Check the details on the policy documents sent to you. Verify that the product features align with the benefits explained to you at the time of purchase.
- Cross-check the personal information provided in the copy of your application form and Business Illustration. In case of any discrepancies, contact us at 1800-891-0003, 1800-103-0003 or customerservice@canarahsbclife.in, or visit your nearest Canara HSBC Life Insurance Hub
- Keep your policy documents in a secure place and share the details with your loved ones. Alternatively, you can digitise your policies by storing them in an Electronic Insurance Account (EIA). This will make your policies easily accessible online.
- Report any unauthorised policy-related transactions immediately.
- Keep your contact information up-to-date. Inform us if you change your mobile number, email ID, or address so you receive timely alerts and communication regarding your policy.
- While making premium payments by cheque or demand draft (DD) ensure you always mention your proposal/policy number. Ensure DD and cheque are drawn in favour of the Company only (i.e. Canara HSBC Life Insurance Co. Ltd )
- Strictly adhere to the approved payment methods for your premiums. Avoid depositing payments into individual accounts. If you encounter any unusual payment requests, please reach us using the contact details provided.
- We recommend paying premiums via our website, the Electronic Clearance System (ECS), or standing instructions through your bank. To ensure your payment is secure, make premium payments only at authorized Canara HSBC Life Insurance or partner bank branches. You can locate your nearest branch by clicking here.
- Don’t forget to get a receipt or confirmation for every premium payment to validate the transaction.
- Be cautious about responding to suspicious calls or emails claiming to be Insurance Regulatory and Development Authority of India (IRDAI) representatives or Canara HSBC Life Insurance. These impostors may try to mislead you into making additional payments by promising high rewards or bonuses or commissions accrued on your existing policy.
- If you suspect fraud, report it to your insurance company. If you have been a victim of fraud, file a police complaint.
Don'ts
Avoid the following actions to protect yourself from fraud:
- Handing over original documents like your PAN card, Aadhar, driving license, or passport to other individuals. For insurance transactions, we only require original documents for verification purposes during the OSV (Original Seen and Verified) process.
- Sharing of One Time Password (OTP) arising out of any financial transaction
- Issuing blank cheques or cheques made out to individuals for financial transactions.
- Sharing your portal/application user ID, password, or any login details with anyone.
Beware of These Fraudulent Practices
Canara HSBC Life Insurance is committed to safety and securing your policy transactions while keeping them transparent. From your end, be cautious of these common fraudulent practices to safeguard your funds:
| Things To Keep In Mind | |
|---|---|
| Cash/Cheque Fraud | Always be cautious when dealing with anyone claiming to be a Canara HSBC Life Insurance representative. Never pay a premium amount to unknown persons. To verify the authenticity of a representative, request an official ID card issued by Canara HSBC Life Insurance. Additionally, never issue blank or personalised cheques, even if the individual claims to be from our company. |
| Incorrect Contact Details | Always check your application form to ensure your personal information is accurate. Once you receive your policy document, validate all details, including contact information and date of birth. |
| Unauthorised Transactions | Be cautious if you receive notifications of transactions or changes in your policy that you did not authorise. Unauthorised financial transactions may include:
|
| Spurious Calls | Be careful about calls promising rewards or bonuses in exchange for policy surrender/ cancellation of existing policy. Always request contact information and company details, or details of the individual calling you. Validate any offers being promised with the Company first. Report any such suspicious calls by sending a written communication to the company listing the complete chronology of events, and avoid falling for misleading offers. We would request you to lodge an FIR in all such cases. |
| Lookalike fraudulent domain | Beware of fraudulent websites/emails mimicking the Company’s domain to mislead users towards performing unsolicited actions. We urge you to verify all web addresses and the correctness of the communication before responding or acting on it. Do not disclose personal or financial details unless you are certain of the authenticity of such communications and their sender. If you encounter any suspicious activity, report it to us immediately at cru@canarahsbclife.in. The company only interacts with you via the following domain: @canarahsbclife.in |
| Non-Disclosure, Misrepresentation and any act of fraud | Ensure you disclose all necessary health and financial information and avoid withholding any facts that could impact the insurer's decision to provide coverage. This will aid in a smoother experience during the claims payout stage. Note that the company is entitled to pursue legal action against individuals who commit fraud or provide false information for their own gain. The Company has zero tolerance towards any acts of fraud or misdemeanour, and as such, any acts noted in this regard shall be dealt with strongly in accordance with applicable provisions of law. |
Immediate Steps to Report Fraud
| We have several channels available for reporting fraud:
|
If you believe you've been a victim of any financial cyber fraud, promptly report it to the National Cyber Crime Reporting Portal or call the helpline (1930). Taking immediate action can help reduce potential financial losses and enhance the chances of financial recovery. We request you to lodge an FIR in all such cases.
Click here to view the Company’s Anti-Fraud policy.
Stay Cyber Secure – Go Digital with Confidence
To ensure your safety and convenience, we encourage all our valued customers to use our official digital platforms, i.e., the Canara HSBC Life Insurance Mobile App and the customer portal on the Company’s website, to manage your policies. These secure, user-friendly tools help you avoid the hassle of physical paperwork and reduce your exposure to fraud. By accessing your policy details, making updates, and submitting requests digitally, you stay in control while protecting your personal information. Embrace the smarter, safer way to manage your insurance anytime, anywhere.