Life insurance is never a bad idea. Of course you want shop around for the best rates and benefits, but the idea and motivations behind securing a life insurance policy are always solid. Like all of us, you want to provide for your family while you’re here and when you’re gone, and a life insurance policy enables you to do both. Unfortunately, not all life insurance companies are created equal—a truth many Texas families have found out the hard way.
In recent years, the attorneys at Daniel Stark have been investigating a new form of fraud that is impacting people in our community. It’s called life insurance company fraud, and here’s how it works. You secure a life insurance policy from what you think is a reputable company. You agree to pay a certain amount in premiums every year, which you do without fail. Then one day, you receive a notice that your premiums are going up, leaving you with one of two options. Either you pay the inflated premiums for the exact same policy and benefits, or you cancel the policy, forfeiting any future benefits the policy guaranteed. You ever heard the term “bait and switch?” Well, that’s exactly what this is.
Thankfully there is something you can do about it. Call an attorney for help. At Daniel Stark, we know your rights as a policyholder, and we’ll do everything within our power to make sure the insurance company lives up to their end of the bargain. If you’ve been the victim of life insurance company fraud, don’t let the insurance company take advantage of you. You have options, and we’d be happy to help you figure out your next steps.
February 7th, 2017|