Insurance fraud occurs when either an insurance holder consciously tries to obtain benefits or advantages to which they are not have the right or when an insurance provider knowingly denies any due benefit to a policyholder or the beneficiary. It has been a known fact that auto insurance and health insurance are the two fields where most of the fraud cases occur. However, another section that is soon catching up is disability insurance. Either the insurance companies are denying benefits or delaying them when needed or individuals are making false disability claims.
Many insurance companies, when trying to sell policies make their insurance sound by promising a lot of benefits. The best proof if a company being authentic is when they give all that has been promised during sign up. This is when you can know if a company is really good or not. Although it may prove to be quite taxing to wait for such times, there is little that you can do besides doing your research on a company properly. If you are a victim of disability insurance fraud by a company you may end up with costly legal fees. Here are a few tips on how you can avoid disability insurance fraud. Take a look:
How to avoid disability fraud?
- Be informed about the company you are doing business with. Check out if there are any complaints against this insurance company. Seek help from family and friends.
- When dealing with a company study their terms before signing any documents. See how they have defined disability, how soon can your benefits kick in after filing a claim, what will be the waiting period and what percentage of your salary will they pay you.
- Read through the documents properly and understand the policy. If you can have a lawyer or a professional read through the documents along with you it would be best.
- Check with the rating companies to see how they have rated your insurance provider.
- Do not accept any verbal promises. Get everything in writing. If it is not on the document, there’s no use believing it. Whatever your agent tells you must be there in writing with you.
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