Life Insurance Fraud Could Compromise Your Family’s Future

by Staff Blogger | March 1st, 2017

We wrote earlier this week about the importance of setting your family up financially once you pass on by securing a life insurance policy now. There’s simply no better way for the average American to ensure their family will be taken care of in the event of their death than planning ahead for their financial needs while you still can. Unfortunately, even for those who plan ahead, it still might not be enough.

In Nashville, we’ve seen an increase over the past several years of life insurance company fraud. If you’re unfamiliar with the term, count yourself among millions of Americans across the country. It’s a type of fraud we hope you never have to experience firsthand, but if you have a life insurance policy, it could become your reality.

Here’s how it often works. You purchase a life insurance policy, agreeing to pay certain premium amounts for a guaranteed death benefit for your family. Then one day you receive notice that those agreed-upon premiums are going up, leaving you with a couple options. Either pay the inflated premiums for the exact same policy or cancel your policy and leave you family vulnerable upon your death.

At Ponce Law, we’re committed to helping people in your situation by holding the insurance companies accountable for their obligation to your family. If you’ve been the victim of life insurance company fraud, contact us immediately for a free consultation. You have rights as a policyholder and we’re ready to defend them. Contact us today.