Ex-Insurance Agent Swindles Doctor of ₹5.8 Lakh
Bengaluru: A 45-year-old doctor in Bengaluru lost ₹5.8 lakh to a former insurance agent who offered a seemingly attractive 5% discount on her life insurance premiums. Dr. Sahana (name changed) reported the incident to the Basaveshwaranagar police.
Dr. Sahana had two life insurance policies with a private company, one with a premium of ₹5 lakh and another for ₹1 lakh. She had obtained these policies through an agent named Punit five years prior. After a period of inactivity, Punit contacted her again in January, proposing that she make her premium payments through him to avail of the discount. The policies were due for renewal this year.
Initially hesitant, Dr. Sahana discussed the offer with her husband, also a doctor, who suggested she proceed, given their prior positive experience with Punit.
When making the payment, Punit insisted on a cheque made out to him directly, not the company, claiming the discount was only applicable through him due to his agent status. Dr. Sahana issued a cheque for ₹5.8 lakh. He then informed her that the payment to the company must be made via a demand draft (DD) and had her sign the DD form, assuring her that the payment would reflect in the company’s records within three days, and that he would provide a receipt.
Subsequently, ₹1 lakh was deducted from her account due to an auto-payment facility for one of the policies. Upon contacting Punit, he attributed it to a mistake and repeatedly delayed rectifying it, often citing training or conferences as excuses.
Later, the insurance company contacted Dr. Sahana regarding the second policy’s payment. Realizing a potential scam, she checked with the insurance firm and discovered that Punit had been terminated two years earlier.
“As Punith had data of the clients, he contacted many of them, and we suspect he has taken money from many people on the pretext of giving them a discount and cheated them,” an officer said.
The police are attempting to locate Punit, who is currently unreachable, using available leads. A case has been registered at the Basaveshwaranagar police station under sections 318 (cheating) and 316 (criminal breach of trust) of the Bharatiya Nyaya Sanhita (BNS).
