Finance Desk – In Mumbai, a family fraudulently claim over ₹1 crore from four different insurance companies. News reports say that a woman, Kanchan Pai, in collusion with her husband Rohit, son Dhanraj, and a doctor, Ashutosh Yadav, managed to deceive four insurance companies.
The police investigation revealed that Kanchan Pai had purchased life insurance policies from Max Life, Bharti AXA, HDFC, and Future Generali under two names—her real name and another. The combined value of these policies amounted to approximately ₹1.1 crore.
The family falsely reporting Kanchan’s death after the policies were secured and claimed insurance with a fake death certificate
First, the scam was successful, The four insurance companies — Max Life, Bharti AXA, HDFC and Future Generali paid ₹70 lakh between 2021 and 2023.
However, it came to light when one of the insurers noticed inconsistencies while processing an additional claim worth ₹41 lakh.
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