Good Tips for Avoiding Life Insurance Scams
Life insurance frauds are very frequent and it creates lots of victims each year. Because of fake policies people lose a lot of money and they compromise their financial future. Insurance scams target uninformed citizens who are tricked into signing an insurance plan that it’s too good to be true and in some cases it proves to be so.
It is essential to prevent yourself from insurance scams. I hope the information in this guide can help you stay on the safe side.
The insurance business is huge and there are lots of insurance agents seeking for new clients. They could be found just about everywhere. A lot of them are merely looking to trick you into signing fake policies and it is difficult to know who is honest and who is not.
Some insurance agents will try to lure you with very lucrative offers. Many of the tricks they use are: guaranteeing you a high coverage for cheap premiums, some won’t provide any guarantee for the benefit that they are supposed to give and many scams promise you a safe and fast process and no life insurance health exam. Be aware and always do the math. Think of the premiums that you will be paying and the benefit that the insurance company will give. If the offer is in their disadvantage, it is probably fake because no insurance carrier will make an offer to their disadvantage!
Always ask to see a valid license approved by a government institution. Tend not to go with only the insurance agents company ID, because those are very easy to fake.
Be patient! Acquiring an affordable life over 65 takes a lot of thinking and calculation, several fake insurance agents will try to rush you. This is not professional and you shouldn’t give up to their demands. Make sure you understand the policy from top to bottom. Make certain to ask many questions and find out if you receive clear answers. A professional agent should be able to clarify any issue.
Do not give away private information such as your Social Security Number to agents. Many will ask you for details in order to give you a quote. They don’t need your phone number or Social Security Number for that! Be sure you only answer relevant questions!
Refuse to pay your premiums through an agent. Ask for a more direct payment procedure, so you know for sure that your money will reach the insurance company!