Pune, April 29 -- A case of fraud has come to light in which an insurance agent allegedly duped customers by luring them with promises of zero-interest loans against insurance policies and then sold them high-value policies worth lakhs in premium.
Victim Amit Joshi exposed the modus operandi of the agent during a press conference here on Wdnesday, urging insurance companies to keep stricter control over such practices and advising customers not to fall prey to misleading offers.
Joshi said he was approached by an agent from Star Eureka Insurance Marketing Company, who promised that he would receive a loan worth ten times the value of the policy at zero interest by mortgaging the policy. However, no such loan was ever provided.
Under the ...