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.
The Schmidts of In Gurnee, Illinois were bamboozled out of a life savings with a value of a half million dollars by a broker, who was married to a family member. The payments and deposits never reached the policyholders’ accounts. Other life insurance misappropriations, investigators discovered that some licensed brokers were writing spurious life insurance policies and claiming the benefits.
The bulleted items, below illustrate techniques to preclude being the next victim to an Illinois life insurance policy or health plan bamboozlement:
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.
Although consulting an insurance advisor affords convenience, three tactics lower the probability of being swindled. 1) Verify that the broker is licensed to present Illinois medical insurance quotes or sell Illinois life insurance. 2) Contact the Illinois Securities Department, Attorney General’s Office and / or Illinois Department of Insurance the to ascertain if the agent has any previous complaints. 3) Also, conduct a fast background check, using Google, entering the agent’s name followed by a comma, and the following other keywords: “complaints,” “scam,” “fraud.”
* If an agent prescribes overstating net worth or income so that the beneficiary can reap a higher benefit from the Illinois life insurance policy, file a report with the Illinois Department of Insurance.
* Make checks payable to the Illinois life insurance company with a notation about the policy. Additionally, never sign checks made payable to the agent or representative, providing the Illinois life insurance 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.
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