Search results
Results from the WOW.Com Content Network
The final reason life insurance isn’t a scam is an unfortunate reality: some people die unexpectedly. These tragedies occur regardless of the person’s financial preparedness and can devastate ...
Faked deaths: In this type of life insurance scam, the insured pretends to have died in order to collect the death benefit, either for themselves or a beneficiary. This fraudulent activity often ...
Officials of the company lied about the life expectancy of the policyholders to the investors, bribing a doctor to sign off on their statements. It operated as a ponzi scheme, using new investors money to pay premiums on older life insurance policies, pay a return to earlier investors, and provide lavish salaries and benefits for the company's ...
Insurance fraud may also include such actions as a pedestrian jumping in front of a car, then seeking compensation for claimed injuries. [23] Staged collision schemes may involve fraud at three different levels. At the top, there are lawyers who file fraudulent claims, supported by doctors who fabricate or exaggerate diagnoses and treatment ...
Juvenile life insurance advocates note that over the long term, management fees for other financial products typically will exceed juvenile life insurance policy commissions. For example in the illustration above, typical management fees of 1% annually would exceed, in every year following the 6th year, the $900–$1,800 one-time commission ...
For premium support please call: 800-290-4726 more ways to reach us
This scam got a new lease on life in the electronic age with the virus hoax. Fake anti-virus software falsely claims that a computer is infected with viruses, and renders the machine inoperable with bogus warnings unless blackmail is paid. In the Datalink Computer Services incident, a mark was fleeced of several million dollars by a firm that ...
A new type of insurance scam, the STOLI, preying on the elderly, has begun to spread from the geriatric heartlands of Arizona and Florida. The Stranger-originated life insurance (STOLI) scam works ...