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Crooks make a killing from life insurance
The Rs 1-crore life insurance policies launched six-to-seven years ago with fanfare have become a lucrative target for cheats. Max Life Insurance, however, has seen more cases of fraud in low-value policies of Rs 1-2 lakh sum assured. The insurance officer sent to settle the Rs 2lakh claim became suspicious seeing no sign of grief among those present. It offers life cover of Rs 2 lakh for a premium of Rs 330 a year.
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