Bhubaneswar: Economic Offenses Wing (EOW) Odisha Police The police on Thursday arrested an LIC agent for allegedly misappropriating claims of Rs 1.81 crore from policies issued in the name of deceased persons.
The arrested LIC agent has been identified as Kabirraj Behera NS jerk under Kanas in police limits Puri District.
Behera was arrested by the EOW on the basis of an inquiry conducted on a complaint lodged by an authorized officer of LIC. khurda branch.
“He was arrested after some incriminating documents were recovered from his house,” SP DK Tripathi told reporters here. He said that the complaint alleged that Behera had cheated LIC of Rs 1.18 crore by submitting false death claims in connivance with the nominees of the deceased persons.
The SP said the investigation revealed that Behera had managed to fraudulently obtain 23 policies in the names of four deceased persons between 2013 and 2019. He was working as LIC agent between 2003 to 2019.
Police said Behera used to pay the premium amount out of his own pocket for each policy for the stipulated period before making a claim using a fake death certificate. He used to enforce death claims in favor of nominees at LIC branch office at Khurda and try to avail financial benefits/death claims against those 23 policies.
It is ascertained that the insurance policies were taken after the actual death of the insured but the premiums were being paid regularly. In all the policies, the sum insured was deliberately kept below Rs 10 lakh as it falls under the financial power to settle the death benefit by the branch manager, without mentioning the divisional office, the police investigation revealed.
According to an EOW release, it has been ascertained that the total amount of claims made by the nominees of 23 policies through the present accused was more than Rs 1.81 crore and against five policies, LIC has released the payment.
Behera has been booked under various sections of the IPC.
The arrested LIC agent has been identified as Kabirraj Behera NS jerk under Kanas in police limits Puri District.
Behera was arrested by the EOW on the basis of an inquiry conducted on a complaint lodged by an authorized officer of LIC. khurda branch.
“He was arrested after some incriminating documents were recovered from his house,” SP DK Tripathi told reporters here. He said that the complaint alleged that Behera had cheated LIC of Rs 1.18 crore by submitting false death claims in connivance with the nominees of the deceased persons.
The SP said the investigation revealed that Behera had managed to fraudulently obtain 23 policies in the names of four deceased persons between 2013 and 2019. He was working as LIC agent between 2003 to 2019.
Police said Behera used to pay the premium amount out of his own pocket for each policy for the stipulated period before making a claim using a fake death certificate. He used to enforce death claims in favor of nominees at LIC branch office at Khurda and try to avail financial benefits/death claims against those 23 policies.
It is ascertained that the insurance policies were taken after the actual death of the insured but the premiums were being paid regularly. In all the policies, the sum insured was deliberately kept below Rs 10 lakh as it falls under the financial power to settle the death benefit by the branch manager, without mentioning the divisional office, the police investigation revealed.
According to an EOW release, it has been ascertained that the total amount of claims made by the nominees of 23 policies through the present accused was more than Rs 1.81 crore and against five policies, LIC has released the payment.
Behera has been booked under various sections of the IPC.
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