Fraud insurance agent

Dear Client,
In the given scenario, you should immediately lodge an FIR against the insurance agent for criminal breach of trust and cheating under Sections 316 and 318 of the Bharatiya Naya Sanhita(BNS) at the local police station and simultaneously file an online or offline grievance in respect of fraudulent act of agent to the concerned GRO of LICI or its branch office from where the policy was issued and loan application was processed along with a copy of FIR. If the insurance company(LICI) does not resolve your complaint to your satisfaction within 15 days, you can escalate your grievance to the IRDAI visiting its official website for grievance redressal at https://bimabharosa.irdai.gov.in/. While the Bima Bharosa portal is the recommended online method, you can also reach IRDAI via email to complaints@irdai.gov.in. If you are still not satisfied with the resolution provided by IRDAI and the insurance company, you may consider filing a complaint with the concerned District Consumer Disputes Redressal Commission(DCDRC) under the Consumer Protection Act, 2019 seeking appropriate relief in the matter. If required, seek legal advice from an Advocate to navigate the issue effectively.