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 proceeding bulleted items describe techniques to avoid being bamboozled into a fake Illinois life insurance policy or health plan scam:
Regardless, if is for an Illinois medical insurance plan or for an Illinois life insurance, policy the primary upshot to finding an agent, who represents a slew of leading corporation is the ability to compare benefits and abbreviate the time it would normally require to shop around for Illinois life insurance quotes or to compare viable Illinois medical insurance plans.
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.”
* Anytime an agent suggests inflating net worth or income so that the beneficiary can obtain higher benefit from an Illinois life insurance policy, report the case to the Illinois Department of Insurance.
* Always make checks payable to the Illinois life insurance company and add a notation regarding the policy. Also, never sign the checks over to the representative or broker, who is providing the Illinois life insurance quotes.
* Regardless of economically sound the quote and enticing the benefits seem, always avoid any Illinois life insurance policy that “guarantees to double” the returns. Although open enrollment for Illinois medical insurance presents an short span to sign up, coercive, high-pressure sales tactics are ethically inappropriate and an indication to shop elsewhere.
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