Chronicling that last two years, a spike in consumer fraud foreshadows foretells a new era in white-collar crime. Throughout state and local city governments, consumer fraud cases pertaining to Illinois life insurance and Illinois medical insurance reports are inundating bureaus. Predominantly, unscrupulous insurance agents are vending fictitious health plans (such as ObamaCare) or are embezzling consumers’ funds for Illinois life insurance.
In Gurnee, Illinois the Schmidts were scammed out of a life savings, totaling a half million dollars by a broker, who was married to a family member. The funds never reached the consumer’s accounts. In other life insurance fraud cases, investigators learned that licensed agents were creating bogus life insurance policies and cashing in on the policies.
The following bulleted items reference tactics to skirt the chances of falling prey to an Illinois life insurance policy or health plan scam:
Despite the underlying convenience of obtaining assistance to compare Illinois, medical insurance plans quotes and to shop around for Illinois life insurance, an agent, representing several life insurance or medical insurance companies can expedite the process.
Despite the convenience of consulting an insurance advisor, three tactics reduce the chances of being duped. 1) Confirm that the agent is licensed to sell Illinois life insurance or provide Illinois medical insurance quotes. 2) Contact the Illinois Department of Insurance and Attorney General’s Office and Illinois Securities Department to determine if the agent has any pending complaints. 3) Also, conduct a quick search on Google, by entering the agent’s name followed by a comma, and the following other keywords: “complaints,” “fraud,” “scam.”
* If an agent recommends inflating income or net worth so that the beneficiary can obtain an Illinois life insurance policy to claim a better inheritance, report the incident to the Illinois Department of Insurance.
* Always post checks payable to the Illinois life insurance company and add a notation about the transaction. Never ever, sign the checks to the Illinois life insurance agent or broker providing the quotes.
* In spite of the economical feasibility and attractive the benefits seem, do be tempted by any Illinois life insurance policy touted to provide “double” the returns. Even though open enrollment for Illinois medical insurance exists in condensed timeframe, high-pressure sales’ and coercive tactics are ethically unacceptable and a warning sign to shop elsewhere.
IllinoisLifeandHealth.com offers complementary health insurance quotes, advice and a wealth of information regarding Illinois life insurance and Illinois medical insurance. Bookmark the site for the latest news, resources and no obligation quotes, online.