Verifying insurance policy

[kjke1986]

Hi all,

While researching insurance policies today, I happened to stumble upon this (link). In short, agent sells fake policy to uncle and auntie without them knowing.

Pretty scary man... How do you guys go about verifying if your policy is indeed legit?

Thanks man.

 

[Shion]

You can make a call to the insurance company and ask about your policy.

 

[denial86]

Not sure about other companies but Prudential gives you an account called PruAccess that lets you see what policies you have with them. It even shows the surrender values, lets you update payment methods and let you see your investment figures (like for CPF-OA investments).

I don't have policies with other insurance companies but I'd like to think these days most if not all of them will have such an option already?

Unfortunately, the auntie and uncle in question are probably not IT savvy and that's why they got taken advantage of.

 

[Flex11]

Ensure that the cheque you issued is payable to the insurance company directly and not to the agent.

 

[X66]

Ensure that the cheque you issued is payable to the insurance company directly and not to the agent.

Make sure the cheque is crossed and the bearer is strike off too. In addition, the insurance company will mail you a receipt with your policy number. Call the insurance company (not the agent) to verify that the policy premium is paid and your policy is in effect

 

[ivanguan]

yes, all insurers have online portals nowadays, and all 2FA now