How To Avoid Scams And Fraud In Final Expense Insurance – Podcast Episode 33

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In this podcast, I’m going to be discussing how to avoid scams and fraud in final expense insurance. So let’s get right into point number one. First thing you need to do is re search and verify, research and verify. So as much as you can, these days with the internet, there’s a lot of tremendous resources out there key research, and verify.

Now, any life insurance agent out there needs to be licensed by the state there and they’re going to have a national producer number, they should have all of that available. And if you’re talking with an agent, and they don’t want to provide that to you, you shouldn’t be talking to that agent, just get out of there, kick them out of your house, whatever it is, there’s nothing to hide, because as an insurance agent, you need to have licenses, you need to have insurance, you need to be verified, they need to do criminal history, checks all that stuff.

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So just understand too, though, that just because somebody has a license doesn’t mean they’re a good insurance agent, I kind of liken it to you know, when doctors go to medical school, they all end up with that doctors plaque to hang on their wall. But 50% of the doctors graduated in the top of their class and 50% graduated in the bottom of their class.

So, you know, there’s some doctors that practice medicine, and you don’t want to be practiced on if you know what I mean. And there’s other doctors that have mastered medicine, they’re in the upper half, that’s what you want, you really want somebody who’s mastered insurance as well. And, to a great extent, the more time you have in the industry, the better job you’re going to do for your clients.

Unfortunately, life insurance companies it’s it’s kind of a low barrier of entry to actually get into life insurance sales. It’s not like a you know, a lot of work, it kind of is a lot of work. But it’s not a lot of work. You know, the money can be good if you’re good at what you do. But a lot of people aren’t good at what they do.

So they don’t make money. So they got to cut corners, so they don’t do things right. They maybe sell people policies that aren’t in the client’s best interest that may be in their best interest. So just make sure you are dealing with a reputable agent like it funeral funds of America, you go to our about page, you can find out everything about me, you can see all my 50 state licenses, you can see all the insurance companies pointed with there’s nothing to hide, see how long I’ve been licensed all that stuff. So just just understand you need to research but verify in this day and age. With so many consumers being taken advantage of just be aware of that.

Number two on how to avoid scams and fraud and final expense life insurance is beware of high pressure tactics. If an insurance agent is pressuring you into buying something, just kick him in the rear end and kick him out the door. You know, I don’t mean that literally, of course. But there’s no way you should tolerate anybody using high pressure manipulative tactics on you.

Life insurance is a very important decision. If you’re looking at Whole Life, final expense, life insurance, it’s a life long decision. So anybody that’s pressuring you to buy something, you should be just so worried about dealing with a person like that, and wondering why on earth, they would pressure you into buying something like that, because you need to be comfortable about this type of purchase, you need to be 100% confident that this policy is going to be the policy that will last you your entire life, that everything the insurance agent said is true. And that when it when you die, it’s 100% gonna pay out. A

nd if an insurance agent feels the need to do high pressure tactics on you, none of that exists. So just avoid that at all costs. Plus the fact that you know, maybe they’re trying to scam you out of information, you know, pressure you into some maybe it’s a telemarketer or something like that. So You know, unless you requested the information, you know, hang up the phone.

But by the same token, you know, funeral funds of America, I know at least with us, you can check us out thoroughly. So just just be aware that we off, we operate at the highest ethical levels in the industry. The third way to avoid scams and fraud in final expense insurance is compare multiple quotes. Now, I say this with a little bit of hesitation, because on our website, we’ve got a free quarter on just about every page.

So you can put your information in there. And that’s the same quarter that we use to quote our, our clients. But here’s the deal. Just because you see a low price doesn’t mean you will qualify for the low price. Because most of the people we help, you know, most of the people we help are age 50 to 85. Right. So we’re at what age do most people get sick at age 50, to 85. Right. So, you know, we help people with heart conditions and thyroid conditions and diabetes and high blood pressure and, you know, just disabilities, and injuries and all sorts of things so that every single company out there has some specific niches where where they offer coverage, the other where the other companies do not.

So if you happen to have one of those issues, one of those health issues, you could apply to 10 different insurance companies and get denied. But there might be one company out there that you would get approved as issued, and save significant amounts of money by doing it that way. But you’re never going to know, because you’re not an insurance expert. You’re an expert in so many other things. But you’re not an insurance expert.

You know, insurance isn’t very exciting to most people, I hope you can tell I kind of geek out on it, I really enjoy helping people get the best insurance for the lowest pricing, kind of just treat people like you would like to be treated. If somebody were helping me, I’d want to know that they were on my side of the table. And they were operating with my best interest in mind, not their best interest.

So just understand that. Just because you see a low price doesn’t mean you qualify for the low price, especially if you’ve got health issues. And I you shouldn’t be shopping based off price alone in the first place. Because if you shop on price alone, you’re gonna get sucked into one of those companies, like you’d be looking for whole life insurance, and you go, Oh, well, I saw Globe Life or AARP or New York Life. They were this much. And they’re lower than what you said, yeah. But they’re also term life insurance, that’s going to go up in price every five years and cancel once you get beyond age 80.

So you’re going to sign up for that you’re going to enjoy lower premiums for a little bit, then every five years, every year, your birthday, your birthday ends at a one or a six. It’s like 51 and 56, your rates are going to jack up. And at some point, you’re going to end up paying way more than the whole life insurance. And then you start overpaying. And then so many people end up having to cancel that policy. Because you can’t afford it anymore. And it got too expensive, or you just outlive it. You know, you live beyond age 80. And the policy cancels on you. And now you’ve paid all that money into it, you got no benefit. So how did that lower premium in the first part of your policy benefit you at all?

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Didn’t it? All right. So that kind of leads us up into our next point or fourth one in how to avoid scams and fraud in final expense life insurance. And that’s read and understand the policy. So if you bought a term policy, but didn’t know it, it doesn’t matter. Whatever type of policy, you get whole life insurance or term life insurance, when you get your policy in the mail, read through it and understand it, your agent should have explained everything to you, your agent should have nothing to hide.

So when we help people with insurance, what we do is we actually tell them everything about the policy, so there’s no surprise. And then once they’re approved, if they liked the policy, which they will like the policy we’re going to help them out with if once they’re approved, we actually send them a letter. And it’s got in writing everything that we told them about the policy. And that way when you get your actual policy from the insurance company in the mail, now you can compare everything that we said and everything that we wrote down to everything that’s in the policy. And I know with us, they’re all going to be perfectly the same.

But that’s not always the case. There’s there’s there’s come It needs an agent’s out there that will not tell you the fact that they just sold you a two year waiting period plan. And they will just mail it to you. And they have the highest of all hopes that you will just get that policy in the mail and you just throw it in the file cabinet not read it. Because if they sold you a policy with the two year waiting period, and you qualify for first aid coverage, you should be angry, you should be really angry. Right?

Because number one, you’re going to overpay for the rest of your life. And number two, you better hope you don’t die in the first two years. Because it’s not going to pay out opinion insurance death benefit. So yeah, just read and understand your policy. And the fifth area about avoiding scams and fraud and final expense insurance.

And our last topic for today is Be wary of unsolicited offers, I can tell you for a fact that if you’re getting letters in the mail, from insurance companies about life insurance, those are about the worst companies in the world that you can buy from because in almost every case, it’s going to be Term Life Insurance where the price is going to go up every five years, and cancel once you get beyond a JD. Or it’s going to be a plan with a two year waiting period. literally the worst policies in the world. If you want a plan for final expense, life insurance, you know, if you want the worst plan for life, final expense life insurance, get a policy that’s going to go up in price every five years and potentially cancel before you die. bad deal.

You know, if if you want a bad insurance policy, get one that’s got a two year waiting period that you’re going to pay like up to 200% more, you know those 997 plans you see on TV, in most cases, those are going to be 200% more expensive than our lowest price first insurance company. And you’re gonna get stuck with a two year waiting period. But you’re also going to overpay for the rest of your life.

So just be a smart consumer, you know, and here’s the thing there is, there’s no shame in not being a smart insurance buyer. Because you may only buy insurance, you know, one or two times life insurance, final expense insurance, you may only buy that once or twice in your entire life. You don’t have to be good at it. You just need to know somebody that’s good at but you got to just trust but verify.

Ronald Reagan said that about Russia once trust but verify. So I know it funeral funds of America go to our about page you can verify everything about us. Unfortunately, that’s not true. Most insurance companies or most insurance agents that you’re going to meet with, you know, they just, you know, they just operate out of a cardboard box and they show up at your house or whatever. And they kind of write you a policy with an insurance company that’s going to be very expensive that’s going to penalize you for not being a smarter consumer. So we can help you out but I hope this podcast has been helpful for you.