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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The Most Common Types of Life Insurance Fraud

The Most Common Types of Life Insurance Fraud

Life insurance fraud costs the industry hundreds of millions of dollars each year, and it can burden family members with an agonizing set of circumstances. It often involves deceiving family members or business partners, and among those horrors, it translates to higher rates for honest policyholders. In once case, a woman and her husband found that their son had somehow managed to change the ownership names and beneficiary on a life insurance policy. She and…

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