A reader who is presumably a former insurance agent, shared how he found a loophole to claim free insurance payouts via travel insurance from insurance companies.
Disclaimer:
The following account was sent in by an anonymous reader.
Insurance fraud is a serious offence in Singapore and persons found guilty of committing insurance fraud and/or cheating offences, face a jail term of up to 3 years and/or a fine.
Reader discretion is advised.Here is the story
“Many years ago, I used to be an insurance agent, and I was not exactly very good at my job, struggling to make ends meet despite all the promises of success by my mentor, who gave me the illusion that joining the industry would one day lead me to driving sports cars and wearing fancy watches like him.
So as a result, I turned to the dark side and found a loophole where I can claim insurance payouts for free, via travel insurance.
All I had to do was buy a travel insurance plan and go overseas for my holiday, somewhere where the police is a little corrupted like Bangkok.
Then with my travel insurance in hand, I would go to the Thai police and make a police report that I was robbed and that I had lost all of my belongings and valuables.
I would mention things like I lost my Rolex, my iPhone, laptop etc, and because the police can’t really speak very fluent English, the process is much easier.
And back in the day, the police really DGAF and they wouldn’t do anything about it despite telling you that they would look into it.
So once I got the police report, I would submit it to another insurance agent to claim from my travel insurance, and they wouldn’t know any better.
And the good thing is, most of the time, my travel insurance claims would go through and I would get the money.
Nowadays it doesn’t work anymore, and I was eventually caught for my travel insurance scam and cheating and spent time in jail, and my career in the financial industry was pretty much over.
Every day inside jail I would reflect on myself and regret what I have done, letting all my family and friends down and having this reputation of being a scammer.
Even on the day I was released from prison, none of my family and friends came to pick me up because they were so disappointed in me.
I am now on the mend and working to better myself, working as a delivery driver and slowly getting my life back together.
Thank you for reading.
Images source: Unsplash and Singapore Uncensored file photo.