What is life insurance fraud?
Typical fraud definition is that it is a deliberate fraud that will damage someone else, physically, financially or in another way. Life insurance fraud is very specific. It refers to the actions of intentional fraud by those who ask or those who sell life insurance. There are many different ways of manifesting this type of fraud. The most common type is intentional incorrectness for insurance requests. Any type of health information about politics must be accurate, including the age of a person. Smokers must ‘Fess until their behavior, and if people have health conditions that can increase insurance costs, they must require them if necessary. Although life insurance will be more expensive, if a person has health, policy may be worthless if the person lies on the request. This will cancel any contract because it is fraudulent and can be adhesive people AVE without money to the assembly if fraud is proven.
life insurance fraud may include some relatively sophisticated schemes. People pretended to be death so that family members could claim politics. Others create a false identity that they can kill for money. They are as disgusting as these crimes, at least physically do not hurt the real person. Unfortunately, there are many cases where someone has killed someone else to collect life insurance. This is not only fraudulent, but usually considered to be the murder of first grade.
One type of life insurance purchase that can sometimes be fraudulent or illegal when companies buy employees' life insurance, sometimes called Dead Roasas insurance. This is not illegal, provided that employees provide the company's authorization to insure and collect funds if they die. When a net employee consent to this can be considered a fraudulent act.
Several doctors can engage in fraud with life insurance by bUde act as a medical examiner who certify the health of the people who are applying. With a person looking for health insurance, he deliberately falsifies information about medical examinations. This may happen for people who are expected to live for a long time despite health status, or it can be a secret secret agreement with a dubious agent in what is called a viatical scam.
In Viatic Fraud, agents accept people with terminal diseases for the purchase of numerous policies, all of whom will have an annuity. The person gets some money to get to the end of her life, but most funds end up in third -party investors' pockets after the death of a person. Doctors may be involved to prove the "health" of a severely patient who also lies in health, and brokers or sellers are clearly part of the system.
together with fraud with viatical life insurance, agents selling insurance can practice other types of fraudulent activities. Agents sometimes ask people to sign an empty formŘára or offered people new insurance offers to release their current insurance to pay for a new policy. These can be fraudulent actions and people who want to buy additional insurance should be aware of them.