Pics: Umesh Marpalli

Daijiworld Media Network-Udupi(HB)

Udupi, Oct 25: A huge investment scandal of Jeevan Madhura Micro Insurance Scheme has been exposed. This information was given by Ravindranath Shanbhog, president of human rights foundation, Udupi on Monday, October 24 at the press conference held at Vaikunta Baliga College here. 

“More than 300 sub-agents like farmers, Asha workers and Anganwady teachers were cheated by NGOs. These people with meagre salaries were looking for additional source of revenue and worked as sub-agents to collect premiums for the Jeevan Madhura Micro Insurance Scheme. The three NGOs, namely Mukkanneshwari Yuvati Mandali, Samanvaya and Shubhodaya cheated innocents. Now the policy holders are forcing the sub-agents to refund the entire premium paid from their own pockets even though these sub-agents had promptly and regularly paid the premiums. Due to the fraud of these NGOs, nearly 99.63% of policies, that is, 57873 out of the total of 58086 policies have lapsed for non receipt of premiums.” Shanbhog added.

“President of the Shubhodaya A M Mohan, secretary A N Girish and director Devraj had initiated the NGOs and then innocents people got trapped in the name of saving money. This micro insurance policy was introduced to help the poor to avail insurance with lowest premium.” Shanbaug said.

On Monday October 24, some sub agents met officers of LIC, Udupi division. But they washed off their hands by saying it was not their fault and NGO is completely responsible for this fraud, Shanbhog informed.

Only few people have lodge police complaints. Many poor people have lost money in this fraud. Human rights foundation, Udupi will fight till the sub-agents get justice. The foundation is ready to meet finance minister Arun Jaitley. Before this we will meet state home minister Dr G Parameshwar, said Shanbhog.

The foundation has three solutions for the problem, namely, to settle the claims of MI policyholders whose premiums have not reached LIC , to make good the amount to sub- agents who have refunded the amount from their own pockets, to take legal/criminal action against the fraudulent persons/ agents involved in the fraud, Shanbaug revealed.

Several affected people attended the press meet.