Warnings Signs of a Health Insurance Fraud

Posted on: Aug 9, 2021 Publish By: funerallink

Nowadays, the testament of “health is wealth” is apparent. With the vaccine rollouts still on-going and the health system nearing a collapse, people have taken it upon themselves to safeguard their wellbeing.

One of the many ways people are doing so is by purchasing health insurances as to minimize the financial burdens of hospitalization and medicines. However, with the rising number of demands for health insurance comes a rising number of scams that threaten to steal from individuals only looking to secure themselves and their families.

To protect you from these health insurance scams or frauds, we listed some warning signs that you should be wary of.

Marketing Materials, Calls, and Home Visits Insisting Low Prices

Let’s put it into perspective. Insurances, especially healthcare ones, are tad pricey. If there are agents or salesperson coming into you (in an aggressive manner) about how their insurance is way cheaper than everyone else’s, be careful.

If possible, look into at least three service providers so you can see the ranges of your desired health insurance. This is to guide you into making an objective, secure and financially-advantageous transaction.

Insurance Terms are “Too Good to be True”

Insurances always come with a clause or some kind of prohibition to make it valid. At the same time, depending on the assessment of one’s current health conditions, there might be adjustments to the premiums and coverage.

Insurance terms that guarantee full coverage at a minimal price with a ton of guaranteed benefits is a big red flag waving.

You are Pressured to “Sign Up Now”

There are scammers out there that prey on the sense of urgency. They might tell you that you are missing out on a super low deal or that you won’t get another insurance like theirs. If this is the case, you might want to step back and offer a solid “no.”

Some “agents” are also notorious for asking your personal details even when there isn’t a policy issued yet. Don’t sign, write, or give your personal information to these people.

Agent Evasive of the Agency’s Details or Information

When asked about their credentials or how long they are taking care of their policyholders, they might evade the question or straight-up lie. They might also suggest that the information you’re asking for is already in a brochure they are giving out.

If their company doesn’t ring a bell to you or doesn’t seem familiar, you might look and search for their name in a directory of registered insurance providers.

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