Life insurance can be more important than it first seems to us. It becomes wide-spread business and a lot of scammers are dealing on the insurance market. We need to secure ourselves. The first and the most important issue always to remember about is the following - if insurance terms and conditions sound too good to be true it is definitely is about scam or fraud. When finding out that the insurance company or agent is not fair, always report life insurance fraud! But being careful can help to avoid all possible problems. How should we act when buying life insurance or some other kinds of insurance?
First, we should never hurry up to take out any life insurance or health policy if we haven't understood completely how it works and what it will cost us. If you are not sure or hesitate about any single aspect of the insurance, ask and figure out the issue. If after explanation you still can't understand something it is better to turn down the offer. Everything should be clear!
Second, we must ask for a copy of everything that we were offered. The copies should be printed and attached to the document of the policy. Today it is pretty common for insurance agents to use laptops when doing business, but it doesn't mean that they should give copies of the documents to the client. If any discrepancy will happen in future we should have something to back us up.
Third, if we are offered to buy 'pension plan' as a life insurance, we should understand that it is somehow different thing. The life insurance after reaching a pension age can be used to borrow some money from but it is not intended to be a pension plan. We should buy either life insurance or health insurance and nothing more. But it is pretty often when insurance salespeople are trying to sell pension plans instead of health policy to their clients ensuring that they are all the same.
Forth, we shouldn't follow any agent's advices concerning replacing old policies with a new policy. Before this it is necessary to make sure how we will benefit in this case. Because it is more common that in such way agents are trying to get some advantages from their clients promising larger insurance cover at the same cost as current smaller policies. Remember? Everything that sounds to be too good to be true isn't that good in reality and looks to be a scam. We should always report life insurance fraud.
Fifth, if we are offered to get the life insurance which is about to double our investments, it is required to understand completely how it will work before signing up. If we are get a notice from the insurance company and the agent tells us that they are not true and offers to fix it, we shouldn't let get into our affairs in such or similar situations. It is a sign that the deal is a scam. We should never neglect to report life insurance fraud. Let's always stay aware and careful!