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Fraud and Scams guides
Annuity sales abuses targeting seniorsHow misleading annuity sales to older buyers work, the warning signs, what best interest rules require, and what to do if you were sold the wrong one.Bad faith claim handling by life insurersWhat bad faith means for a life insurance claim, how state law and ERISA change your remedies, and what to document if an insurer stalls or denies unfairly.How to check that an insurance agent is licensedStep-by-step: verify an agent's license with the NAIC lookup, your state insurance department, NIPR and, for securities, FINRA BrokerCheck.Elder financial abuse involving life insuranceHow older adults lose money through life insurance: forged beneficiary changes, drained cash value, pressured sales. Warning signs, safeguards and reporting.Faked deaths and life insurance fraudHow faked-death insurance schemes work, how insurers and investigators catch them, the charges involved and what honest families should know.Phishing and impersonation scams using insurer namesHow fake emails, texts, calls and websites borrow an insurer's name, the red flags, how to verify a message, and what to do if you clicked or paid.Life insurance fraud: what it is and how it's caughtThe main kinds of life insurance fraud, how insurers and regulators detect them, what the penalties are, and how an honest mistake differs from fraud.Common life insurance scams and how to avoid themThe scams that actually circulate around life insurance, from fake unclaimed-policy letters to unlicensed sellers, with checks you can run and where to report.Life insurance sold through multilevel marketing: what to knowHow recruiting-based life insurance sales organizations work, what the FTC says about MLMs and pyramid schemes, and what to ask as a customer or recruit.Murder-for-insurance cases: how insurers and police respondHow insurers, prosecutors and courts handle a suspected killing for life insurance money: the slayer rule, claim holds, contestability, and who is paid.The slayer rule: when a beneficiary can't collectThe slayer rule bars a beneficiary who intentionally kills the insured from collecting. How UPC 2-803 and state laws work, the proof required and who is paid.Stranger-originated life insurance (STOLI): what it is and why it is restrictedHow stranger-originated life insurance works, why courts and regulators treat it as lacking insurable interest, and what the NAIC and NCOIL waiting periods say.Life insurance ads on TV: what "$9.95 a month" buysTV life insurance ads quote a low monthly price for guaranteed acceptance whole life. What a unit buys, the two-year benefit limit, and how to compare.Twisting and churning: replacement sales abusesTwisting and churning are misleading replacement sales that benefit the seller. What the NAIC models require, warning signs and how to check a replacement.Unclaimed money and heir-finder scamsHow fake unclaimed life insurance letters and paid finder pitches work, where to search for lost money free, and when an heir researcher is fair.