Every year, thousands of Indians receive a phone call from someone claiming to be an official from IRDAI (Insurance Regulatory and Development Authority of India) or a senior government officer. The caller promises a refund, bonus, or unclaimed money from an old policy — but says they need you to buy a new insurance policy first to 'unlock' the money.
This is a scam. And it has trapped millions of victims across India.
How the Scam Works
The fake IRDAI officer scam typically follows a predictable script:
- The caller says they are from IRDAI / Ministry of Finance / Government of India
- They claim you have unclaimed money, a bonus, or a refund due on an old policy
- They say you need to buy a new policy (or pay a 'processing fee') to 'release' the money
- They take your OTP, get a new policy issued, and the promised money never arrives
- When you call back, the number is switched off
Is This Fraud? Can I Get My Money Back?
Yes — this is fraud under Indian Contract Act Section 17 (misrepresentation and fraud) and BNS 2023 Section 318 (cheating). And yes, you are legally entitled to a full refund.
The most common argument insurance companies use to deny refunds is that the 'free look period has expired.' This is wrong. The free look period is a contractual clause — it cannot override statutory law. A contract obtained through fraud is void from the beginning, regardless of time elapsed.
What to Do If You Were Scammed
- Do not make any further payments to the caller
- Collect all documents — the policy you received, payment receipts, call recordings if available
- File a complaint with the insurance company's Grievance Redressal Officer (GRO)
- If GRO does not resolve in 30 days — file with Insurance Ombudsman (free, binding order in 90 days)
- Also file a police complaint under BNS 2023 Section 318
Our Track Record
Insurance Legal Support has helped hundreds of fake IRDAI scam victims recover their full premium. We have successfully challenged the 'free look period expired' argument in every case — because the law is clearly on the side of fraud victims.