Life Insurance Fraud

Signs You May Be A Victim of Insurance Fraud

by Richard Atkinson | November 13th, 2016

Fraud occurs when you are criminally deceived so that someone else can financially benefit. Insurance fraud occurs when brokers or agents – or those posing as brokers or agents – prey on unsuspecting victims, selling them fraudulent insurance, unnecessary services or asking them to be involved in fake accidents. Here are a few signs to look for if you suspect you’re a victim of insurance fraud.

Fake Policies

Those posing as agents or brokers can sell you policies that don’t exist, so your payments never go to a larger business underwriting the policy.  One sign of this type of scam is if the broker doesn’t give you information about the company underwriting the policy.

 Premium Fraud

Like a fake policy, with premium fraud the broker or agent keeps your payments instead of sending it to the insurance company. The difference here is that you purchased a real policy, so when your payments are not received, the insurance company cancels your policy. A sign of this is receiving notification that your policy will or has been cancelled even though you’ve been making payments.

 Unlicensed Agents

Anyone selling insurance must be licensed and have proper credentials to do so. If an agent is hard to contact, doesn’t have an office or refused to share his or her credentials with you, it might be a sign that they are unlicensed.

Unnecessary Services

Agents or brokers who encourage you to buy services or upgrades that you don’t need could be committing fraud.  A sign of this is if a broker is overly pushy and won’t let you say no to something that doesn’t seem needed.

 Insurance Scams

Groups of people can run scams, like staging a fake car accident, that are designed to get money from insurance companies. If anyone asks you to be a part of a fake accident or requests that you give false information about an accident, they are participating in an insurance scam.

 Con artists who run insurance fraud schemes specifically target their victims, gaining their trust to make the scam work – so you may not even see the warning signs. Insurance fraud is dangerous as it can leave you out to dry when real disaster strikes. If you think you’ve experienced insurance fraud and live in Northwest Arkansas, contact a Conway insurance fraud attorney and educate yourself about the signs of fraud.

Rising Life Insurance Premiums May Be Fraud

by Staff Blogger | July 25th, 2016

Life insurance fraud is one of those case types we wish didn’t exist, because that would mean hardworking folks in Arkansas aren’t being taken advantage of by life insurance companies. Unfortunately that’s not our reality.

Here’s how life insurance company fraud works.

You secure a life insurance policy to protect your family in the event of your death, and pay the premiums regularly to keep the policy active. Then one day, perhaps years down the road, you get a notice informing you that your premiums are skyrocketing, leaving you with 3 options:

  1. Cancel the policy.
  2. Pay the inflated premiums for the exact same policy.
  3. Forfeit the life insurance policy savings you’ve accumulated.

If you’ve received a notice that your life insurance policy premiums are going up for the same level of benefits, you may be the victim of life insurance company fraud. Give our life insurance fraud lawyers a call immediately to find out what steps you can take to protect yourself and the policy you’ve paid good money for. At Rainwater, Holt & Sexton, we’ve dedicated our careers to protecting the good people of Arkansas from greedy insurance companies, and we’re ready to do the same for you.

Life Insurance Fraud in Arkansas

by Staff Blogger | May 2nd, 2016

There are few things we despise more than people who take advantage of other people. It’s even worse when a company or a trusted brand takes advantage of its customers in an effort to weasel them out of their hard-earned money. That’s what has happened to many Arkansans who recently received letters from their life insurance company demanding inflated premiums to keep their policies active. If they refuse, they could lose the death benefit promised to their loved ones.

We get life insurance policies because we want to provide for our families in death as we have in life. We want to make sure that after we’re gone, they have everything they need to live full and productive lives. We contribute thousands of dollars over the years to these policies because of the promise that our families will be taken care of. When the insurance company unexpectedly raises premiums so high most folks can no longer afford them, it could be life insurance fraud.

If you received notification that your life insurance premiums are skyrocketing, we may be able to help. We know how to deal with greedy insurance companies and will fight to protect the benefits you deserve. Call today for a free consultation.

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