How to Avoid Insurance Scams
May 05, 2007 by
Health insurance has jumped in price to an astronomical rate. It is to the point that two income households can barely afford to have insurance through their own employers. The rise in insurance costs also brings the rise of insurance scams.
Health insurance scam artists sell phony insurance policies and while collecting thousands of dollars in premiums, they never supply medical coverage. Therefore, their victims are left with millions in medical bills and seriously in debt. These victims are usually the elderly,
small business owners and young families who are already struggling financially.
How To Avoid Insurance Fraud
The best way to avoid these insurance scams is to learn the facts. Here are some tips that might help:
Call your local Better Business Bureau and ask what you should look for. If you aren't familiar with the company offering this 'great' deal, then run to your phone and call the BBB! They can give you the phone number your state's Department of Insurance. Each state has one and they can tell you if this company actually exists. Also, carefully read through all materials (even the small print) and their websites, if they have one.
Be suspicious if it seems unusually cheap and has few questions about your health. Be wary of 'stop-loss insurance" coverage or ones that claim of really low rates and minimal underwriting. Again, another warning sign to check them out.
Also be distrustful of those door-to-door health insurance salesmen. Get their business card and their printed materials and ask them to come back another time when you're not so busy. Then, you have the time to check out his/her credentials. Take your time in deciding and do not let an agent pressure you into signing anything.
Health insurance scam artists sell phony insurance policies and while collecting thousands of dollars in premiums, they never supply medical coverage. Therefore, their victims are left with millions in medical bills and seriously in debt. These victims are usually the elderly,
How To Avoid Insurance Fraud
The best way to avoid these insurance scams is to learn the facts. Here are some tips that might help:
Call your local Better Business Bureau and ask what you should look for. If you aren't familiar with the company offering this 'great' deal, then run to your phone and call the BBB! They can give you the phone number your state's Department of Insurance. Each state has one and they can tell you if this company actually exists. Also, carefully read through all materials (even the small print) and their websites, if they have one.
Be suspicious if it seems unusually cheap and has few questions about your health. Be wary of 'stop-loss insurance" coverage or ones that claim of really low rates and minimal underwriting. Again, another warning sign to check them out.
Also be distrustful of those door-to-door health insurance salesmen. Get their business card and their printed materials and ask them to come back another time when you're not so busy. Then, you have the time to check out his/her credentials. Take your time in deciding and do not let an agent pressure you into signing anything.
Here's the last part of the 3 part series that covers the basics of - how to avoid scams and tell them for what they are, and a list of 20 scams that you might fall victim to. Learn how to earn without losing money to scams and useless programs.
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