Many people today have life insurance. It’s a good way to protect family and loved ones from money troubles if something should happen to the policy holder. Unfortunately, life insurance fraud is a real and unsettlingly common occurrence. So we’ve put together some of the signs that you might be at risk for different types … The Top Risks of Life Insurance Fraud
Insurance Fraud is a billion dollar problem. According to the FBI, the estimated loss for life and casualty insurers is $40 billion dollars a year. The cost to health insurers can be as much as $259 billion. Companies large and small find themselves at risk. But the costs for large companies are the greatest, significantly trimming … 5 Billion $ Reasons To Hire an Insurance Fraud Investigator
Based on recent surveys, property fraud reached $34 billion per year between 2011 and 2015. Healthcare fraud alone reached $259 billion in the year of 2010. Fraudulent insurance claims are reaching all time highs as people fake insurance claims. Fraudulent claims can range anywhere from forging dates on a claim form to faking an injury. Thankfully, … How Does an Insurance Investigator Fight Fraud?
Murder plots and faking one’s own death in order to collect insurance money might make for juicy headlines, but they’re just a small part of the overall damage caused by life insurance fraud. It’s difficult to get a precise figure, but the annual cost of life insurance fraud to insurers is “in the billions,” according … Fake Deaths and More: 5 Types of Life Insurance Fraud
The Claim: Life insurance claim documents were received on a death that allegedly occurred on an island in the Caribbean. The documents included a videotape recording of a funeral. The funeral was proposed by the beneficiary, to be that of the insured.
By Michael Ferguson, ALHC, CG, CII of Worldwide Resources, Inc. As a life claim examiner presented with a foreign death claim do you have a thorough understanding of the funeral rituals based on the religion of your insured? More importantly, do you know what is usual and customary for that religion? You should. Having knowledge … Understanding the funeral rituals of different religions is important when processing a foreign life insurance claim.