Male   Female
  • 8 tips to protect yourself from insurance fraud
  • December 11, 2013
  • By LifeQuotes.com

    When a person dies, having a life insurance policy can benefit their family by providing a temporary stream of income to help pay for expenses and debt. But unfortunately, it can become a dangerous tool in the wrong hands.

    Every state has strict rules, which govern the insurance industry, and awareness of common scams is listed on their websites to alert the consumer of unethical practices. According to the Department of Financial Services for New York, avoiding insurance fraud really means using common sense. They provide guides to auto, homeowners, long-term car and health insurance industries as well as understanding annuity products.

    The following provides valuable advice to avoid becoming a victim:

    -Do your research

    -Know your agent or broker

    -Always respond to any notices from insurance company

    -Keep insurance papers in secure file to avoid identity theft

    -Get receipt for payments made

    -Get a copy of policy

    -Read your policy documentation thoroughly

    -If using your life insurance as an investment, understand exactly what is taking place and benefits that are being offered.

    It is estimated that insurance fraud costs the United States over $80 billion dollars or more a year. The Division of Insurance Fraud in Florida is ranked as one of the leading examples of departments that fight against insurance fraud. Contact your state authorities if you have questions about possible insurance fraud and understanding the process to file a complaint.

  • Category: Articles Library, Tips, Top Headlines, Videos

Leave a Reply

Archives

About

Consumer Insurance Guide SM provides a wide selection of originally-authored articles and expert advice targeted to the self-directed insurance shopper. Our mission is to provide consumers with useful, money-saving information on all things having to do with making sound insurance purchase decisions.

Consumer Insurance Guide SM is owned by Life Quotes, Inc. 8205 South Cass Avenue, Darien, IL. For editorial, content feeds, advertising and lead purchase opportunities, contact Robert Bland at bob@lifequotes.com.

Originally founded in 1984 as Quotesmith Corporation, Life Quotes, Inc. owns and operates www.consumerinsuranceguide.com and www.lifequotes.com, two online consumer insurance information services that cater to the needs of self-directed personal and corporate insurance shoppers.

About Us  |   Contact Us  |   Press Releases  |   The Best Privacy Policy  |   Life Insurance  |   Careers
For Agents & Brokers  |   Site Map  |  


Copyright ©1984-2015 Life Quotes, Inc., 8205 South Cass Avenue, Suite 102, Darien, Illinois. Life Quotes, Inc. and certain of its personnel are licensed as insurance agents, brokers or producers in all states. CA agent #0A13858, LA agent #200696, MA agent #333509159. dba Life Quotes Insurance Services in CA under agent #0827712, in LA under agent #205078. dba Life Quotes Insurance Services, Inc. in UT under agent #90093. All rights reserved. Telephone (630) 515-0170. Founded 1984.
10.1.1.86