We at Turner Friedman Morris & Cohan, LLP have experience recovering losses from life insurance fraud.
Life insurance fraud is common and anyone can be a victim, even sophisticated, high net worth individuals.
Any of these can be indications that you may be a victim of fraud:
- Were you promised “free life insurance”?
- There is no such thing as “free life insurance”. If you were promised this, it is a clear indication of misrepresentation and possible fraud.
- Was your policy premium paid through “premium financing”?
- While there are legitimate uses for premium financing, it is a tool that is often abused at the expense of you, the insured. If your policy has been paid through premium financing, you may be a victim of this kind of fraud.
- Did an agent/broker sell you a new life insurance policy within two years of purchasing your last life insurance policy?
- Sometimes, replacing policies frequently is a sign of “churning”, a fraudulent practice that costs you (the insured) money and value in your policy. If your policy has been churned, you are a victim of this fraud.
- Did you learn that the terms of your life insurance policy are different than what your agent/broker told you when you bought it?
- Misrepresenting the terms of life insurance policies is a common type of life insurance fraud. Sometimes, you can recover your losses for this kind of fraud.
- Does anything about your life insurance or the way it was sold to you concern you?
- Life insurance fraud can show up in many forms. If you have concerns, we are available to listen to you.
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