Phishing Schemes Target Seniors

Phishing Schemes Target Seniors

If you’re a senior, there’s an army of criminals targeting you and estimates from the Federal Trade Commission say one in five seniors fall victim to their fraud operations. The scams come in a variety of flavors. Using “social engineering” methods and sophisticated online data-phishing techniques, the scammers see one thing when they contact a Little Old Lady From Pasadena – a ready victim. Experts estimate, in New York state alone, a half-million New York…

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Top 10 Totally Insane Car Insurance Claims

Top 10 Totally Insane Car Insurance Claims

And then there are the excuses—some lame, some hysterical—that have insurers shaking their heads and rolling over in laughter.

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The Incontestability Clause of Your Life Insurance Policy

The Incontestability Clause of Your Life Insurance Policy

Regardless of the life insurance policy you decide to purchase, every policy will contain a safeguard called the “incontestable clause” geared towards financially protecting the insurance company. The National Association of Insurance Commissioners Standard Policy Provisions Model Act and the laws based upon it requires that every single policy contains an incontestable clause, which is a provision that makes the life insurance policy incontestable by the insurer after it has been in force for a…

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Stranger Originated Life Insurance Is Illegal

Stranger Originated Life Insurance Is Illegal

There is no reasonable circumstance that would justify an insurance company issuing an annuity to someone who is terminally ill or in severely poor health, and that’s according to LISA, the Life Insurance Settlement Association. But regardless of that stance, it’s a trending scheme among those engaged in insurance fraud. Agents involved in these schemes will seek terminally ill individuals to sell an annuity for a value so small it is worth the consideration for many….

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What Agency Tracks, Detects Life Insurance Fraud?

What Agency Tracks, Detects Life Insurance Fraud?

Established in 1902, the MIB serves as a valuable asset to both the life insurance industry and the insurance-buying public. It keeps premiums costs low by helping to detect insurance fraud, which costs the industry millions of dollars every year. If you’ve ever applied for life, health, or disability insurance, chances are you’re in the MIB database.

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The 11 Goofiest Insurance Fraud Schemes of All Time

The 11 Goofiest Insurance Fraud Schemes of All Time

It’s no secret that many insurance fraud schemes involve murder, illicit activities, and mountains of debt. And of course, many involve idiots. Yes, people have been known to attempt the dumbest feats to get a quick payout, oftentimes getting caught in the process and facing probation, hefty fines, and time in the slammer.

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Ten Tips to Avoid Life Insurance Fraud

Ten Tips to Avoid Life Insurance Fraud

The National Association of Insurance Commissioners can offer information on state license information and regulations. This is a good place to start if you have any consumer questions. However, every state has their own regulations and guidelines.

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Commissioner Saves Millions in Fake Claim Payouts

Commissioner Saves Millions in Fake Claim Payouts

Washington Insurance Commissioner Mike Kreidler’s Special Investigations Unit has saved $3.3 million in fake claims, which ultimately benefits the entire insurance industry.

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Life Insurance Scam Targeting Widows

Life Insurance Scam Targeting Widows

In recent news, scam artists have been targeting widowers by posing as life insurance representatives.

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