The presentation by the Money 2.0 Conference talks about the most pervasive scam in the financial insurance sector: the life insurance scam. With the help of this presentation, you will understand how life insurance scams affect customers, the different types of life insurance scams, spam, and fraud, and tips on how to avoid and stay away from these life insurance scams.

1. Life Insurance Scam
Panorama by Money 2.0 Conference

2. Table Of
Contents
● How life insurance scam
occurs?
● Different types of life
insurance scams
● Tips to stay away from life
insurance scams

3. What are life insurance scams?
● Life insurance fraud, scam, and spam arise when an individual or group
deceives an insurance company to profit financially.
● Many global finance events, such as the Money 2.0 Conference have talked
about common instances of life insurance fraud, including lying on an
application, withholding vital medical information, or tampering with
someone else's insurance policy.
● Untrustworthy insurance agents, organized crime groups, and dishonest
individuals are all examples of fraudsters in this arena.

4. Different types of life insurance scams
● Fake deaths
According to insurance conference in 2022, in these cases, people attempt to
collect the insurance of someone who is no longer alive or who never existed.
● Pocketed premiums
Insurance agents who are dishonest may pocket your checks instead of paying
your premium. One red flag is if your insurance agent asks you to make your
check out to them personally rather than the insurance company. To cover their
tracks, the agent may also send you unexplained cancellation notices or provide
you with forged policy documents.

5. ● Upgrade turnover
Turnover occurs when an insurance agent persuades you to buy an additional policy to
earn a commission or extra premium payments, despite being satisfied with your current
coverage.
● Being dishonest on your application
This fraud occurs when a person enters incorrect information on an application. As
mentioned in various finance conferences, the medical exam will sometimes highlight the
error, such as if you genuinely forgot or didn't know you had high cholesterol.
Sometimes, such things occur inadvertently and are referred to as "misrepresentation."

6. ● Forgery
Forgery occurs when someone with access to an insurance policy changes
information without the policyholder's permission. The most common type of
forgery is changing the beneficiary's name.
● Fake policies
Some people may pose as insurance agents and sell fake policies, as well as provide
you with fake documents and bills. They may claim to work for a major life insurer,
but they want you to pay premiums in advance and directly to them. You can avoid
this by only working with licensed agents in established agencies or with a life
insurance carrier directly.

7. Tips to stay away from
life insurance scams,
spam, and fraud
● Never click on links sent from
unknown sources via text, email, or
instant messaging apps.
● Before disclosing personal
information, double-check the
website address, spelling, and
security protocol (HTTPS).
● Do not believe unrealistically low
quotes or succumb to prompts urging
you to act immediately.
● Do not share any financial
information with anyone, including
your bank account login, OTP, CVV,
and so on.

8. Thank You!
Money 2.0 Conference
https://www.money2conf.com/