– July 28, 2020 In a recent circular from the Insurance Regulatory and Development Authority of India (IRDAI) raised the issue of unsolicited calls and fraudulent offers. The regulator said that it has received several complaints about unscrupulous and un-identified calls representing the IRDAI about offers which are beyond the scope of insurance plans. It further added that the callers offered unrealistic benefits by purchasing life insurance policies subject to an advance payment to the account specified by the unidentified callers. The insurance regulator said that it does not offer insurance policies directly nor does it invest the premium received or offer any bonus for insurers or policyholders. It reiterated that policyholders must be vigilant and fall for such unsolicited calls and urged to remain cautious against such frauds or scams. It asked customers to verify the details of the call and the public must deal directly with the insurance company before buying any insurance policy.