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May 22, 2024 · Published - 22 May 2024. Fraud-prevention agencies are warning of scammers using bogus life-insurance claims and offers to gain access to your details or steal your cash. They may say they can lower your premiums, or that your policy needs to be reviewed for an official-sounding reason. In February 2024, Action Fraud issued an alert saying it ...
- Common Life Insurance Scams
- Ways in Which Fraudulent Life Insurance Agents May Contact You
- How to Spot Scammers and Life Insurance Fraud
- Ways to Avoid Life Insurance Scammers
- Fraudulent Life Insurance Policies: What to Do Next
- Life Insurance Fraud: Final Thoughts
The advancement of technology has provided fraudsters with more avenues than ever to target people and their contact details. And when it comes to spotting a life insurance scam, UK residents need to be mindful of some of the most common life insurance scams out there. If you’re looking to find new coverage or take out a new policy, you may encount...
It’s important to note that while the following avenues of contact are used by reputable and legitimate life insurance agents, they’re also used by fraudulent agents looking to take as much as they can about your personal or financial information.
Before choosing a new life insurance policyor trusting the word of a stranger over email or telephone, ask yourself the following question: 1. Are they unable to send proof of identity? 2. Does the offer sound too good to be true? 3. Have they asked for a lot of personal information? 4. Have you done an online search for the number they called from...
In any life insurance scam, UK residents are advised to protect themselves from a fraudulent life insurance policy by keeping to these key points (as well as the questions asked above). 1. Be cautious of any correspondence that will claim to have a surprise payout or any life insurance policy offering a sudden significant drop in premium prices. 2....
Fraud and identity theft are not to be taken lightly. Insurance agents should guide and inform a policyholder and not pressure them into giving out sensitive information. If you think you’ve been part of a fraudulent life insurance policy scheme, here are some of the next possible few steps to take in order to report it.
While the insurance industry, like any other industry, encounters fraudsters and common scams alike, being able to report and spot themisn’t at difficult as it may seem. As long as you’re taking the time to discuss your needs with reputable and licensed insurance agents, and you’re clear about their official phone numbers and other ways to contact ...
Sep 23, 2024 · Email scams. You may receive an unsolicited email from someone pretending to be from a life insurance company. Email ‘phishing’ scams are where the fraudster seeks to obtain more information about you via email in order to commit fraud. They might claim there is an issue with your policy, or that you are a beneficiary following a life ...
Jun 6, 2023 · Reporting life insurance fraud. Contact your bank and report if you think your details have been compromised. Report the incident to the police if you have transferred money. Tell Action Fraud, the national reporting centre for fraud and cybercrime. You can also report the incident to the Association of British Insurers.
Sep 26, 2023 · While there are different types of life insurance fraud, they have common traits to look out for. We cover seven common life insurance fraud red flags below. 1. An exaggerated sense of urgency. Life insurance scams often use a high-pressure sense of urgency to push victims to act before they have time to think about what they are signing.
May 22, 2024 · Click on any links on emails, texts or websites. Check with your real insurance provider or bank whether they’ve tried to contact you. Answer the phone if you don’t recognise the number. Check the FCA website Footnote [2] to confirm whether the broker is regulated. Give any money to companies or brokers until you are 100% sure they are ...
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Feb 1, 2021 · Warning. Fraud and scams. We are aware of fraudulent letters purporting to come from Phoenix Life that request detailed personal information. The request is very detailed and asks for: citizenship. residency information. bank and credit card details. copy of an international passport. details of online banking login details.
