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Jan 4, 2021 · Here are five more life insurance scams, below: 6. Insurance Agent Fraud. Unlike the scam is pulled by the insurance agents that we mentioned earlier in our article, this life insurance scam can really be considered a fraud. There were instances when insurance agents actually stole money from clients.
May 2, 2024 · Here are some life insurance scams you should know about. Shady Agents and Impersonators. Almost all life insurance agents have a common goal: to sell you a life insurance policy that fits your ...
- Jason Metz
- Phony Contacts. What it means: Fraudsters may contact you by email, phone or text message using a false identity to request money or personal information.
- Beneficiary Scam. What it means: Scammers may say you were named as the beneficiary on the life insurance policy of someone who has recently passed, but that an outstanding premium balance is preventing them from issuing payment.
- Premium Diversion. What it means: Insurance agents pocket your premium payments instead of paying the insurance company. How to avoid the scam: Be wary if an insurance agent asks for payment to their name personally, payment sent to a P.O.
- Phony Policies. What it means: Fraudsters sell phony insurance policies without a license and keep the premiums. How to avoid the scam: Before purchasing insurance, check with your state insurance department to make sure the company and agent are licensed.
Oct 19, 2023 · Moreover, fraud extends beyond just insurance: an alarming 43% of Canadians have knowingly fallen victim to fraud or scams at some point in their lives. This statistic underscores the gravity of the situation and the pressing need for awareness and prevention measures.
Mar 7, 2022 · Employment. 8. Fake invoices and supplier bills. 9. Credit cards. 10. Sweepstakes and lotteries. The data is based on reports submitted to the online BBB Scam Tracker and is calculated based on ...
There are many different scams, but some of the most common life insurance scams in Canada include: Selling life insurance to people who don't need it Some scammers target people who don't actually need life insurance. They'll often use high-pressure tactics to get you to buy a policy.. Selling fake life insurance policies Other scammers may ...
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Mar 2, 2023 · Crypto and grandparent scams on the rise. In Ontario, investment scams accounted for the highest losses from victims last year, with $136.5 million reported. Armit says a big part of that involves ...
