Life Insurance Fraud
May 30th, 2017
Life insurance companies make their money by calculating risk and adjusting premiums accordingly. Their whole business comes down to a simple equation. Take in more premiums than you pay out in claims. If they assess risk incorrectly, they can find themselves in a tough financial situation, which could be the reason we’ve seen a number of life insurance company fraud cases in Virginia over the last few years.
If you’re not familiar with the term, life insurance company fraud is when a life insurance company inflates premium payments for policyholders for no other reason than to maximize their profits. Here’s how it works. You secure a life insurance policy and pay your agreed-upon premiums on-time without fail. Then one day you get a notice that your premiums are sky rocketing. You either pay the inflated premiums for the exact same policy or you cancel the policy that you’ve been paying into for years.
If this sounds like your situation, we encourage you call us immediately for a free consultation. Our experienced Norfolk life insurance company fraud attorneys will fight to hold the insurance company accountable by fighting for your rights as a policyholder. Don’t let the insurance company take advantage of your family. Contact us today for your free, no obligation consultation.
January 9th, 2017
Life insurance is one of those things that seems an extravagance when you’re living paycheck to paycheck. Even though most premiums are reasonably cheap in comparison to other coverage, there are still a million other things you could be spending that money on every month. When you decide to commit to a life insurance policy, you do so with the understanding that your financial sacrifice now will provide for your family one day in the future. Unfortunately for many Norfolk policyholders, that financial sacrifice may have been in vain.
It’s called life insurance company fraud, and it’s a real problem for hardworking folks in our community. The insurance company sells you a life insurance policy with an agreed-upon premium to be paid every month. You keep the policy in good standing, never missing a payment. Then you receive a notice in the mail that your policy premiums are going up. You either pay the inflated premiums for the same policy or you cancel the policy, missing out on the future benefit you were promised.
At Lowell Stanley Injury Lawyers, we’ve been following this egregious tactic for more than a year. We know what your rights are as a policyholder, and we’ll fight to hold the life insurance company to their obligations. If you or someone you love has been the victim of life insurance company fraud, give us a call today for a free consultation. You have rights. Let us help protect them.
October 17th, 2016
There is nothing we hate more at Lowell Stanley Injury Lawyers than an insurance company that refuses to do the right thing, except maybe an insurance company that knowingly perpetrates fraud against our Norfolk friends and neighbors. Over the past year, we’ve spoken with a number of folks in our community who’ve been the victim of life insurance company fraud, and we’re in the process of helping many of them get justice right now.
Here’s how life insurance company fraud works. You buy a life insurance policy and pay the premiums every month on time and in full. Then one day you receive a notice that your premiums are skyrocketing, leaving you with one of three options: cancel the policy, pay 2-3 times more for the exact same policy, or wipe out the savings you’ve accumulated. It that seems unfair and downright wrong it’s because it is.
At Lowell Stanley Injury Lawyers, we’ve been monitoring this new and ongoing threat to Norfolk life insurance policyholders for a while now. We know what these insurance companies are trying to get away with and how they’re doing it, which makes us better equipped to stop them. If you’ve been the victim of life insurance company fraud, give us a call today for a free consultation. What they’re doing to you and your family is wrong, and we won’t let them get away with it. Contact us today.
June 27th, 2016
We all want what’s best for our families. We work hard to keep food on the table, a roof over their heads, and clothes on their backs. As our children move out to begin a life on their own, we shift our focus to preparing for our later years. That’s why many of us buy life insurance—to provide for our loved ones once we’ve passed on. We pay premiums year-after-year to ensure the funds we’ve been promised are available for them after our death. Unfortunately, some life insurance companies aren’t playing by the rules, putting the life insurance policies of some Norfolk residents at risk.
If you’ve received a letter or other correspondence stating that your premiums are skyrocketing and you must either pay up or forfeit your policy, you’re not alone. It’s called life insurance fraud, and it’s happening more and more often these days. Individuals who receive these notices have 3 options:
- Cancel the policy.
- Pay the inflated premiums for the same policy.
- Wipe out the savings they’ve accumulated.
For someone trying to provide for their family long-term, none of these options are appealing. Fortunately, there’s a fourth option: call a lawyer. At Lowell Stanley Injury Lawyers, we know how to fight greedy life insurance companies who try to take advantage of policyholders. If you’ve been the victim of life insurance fraud, give us a call immediately for a free consultation.
May 2nd, 2016
Life insurance is an important component in protecting your family’s future. It gives you the peace of mind knowing that they’ll be taken care of after you’re gone. That’s why many of us faithfully pay into a life insurance policy for years, if not decades, because we want to provide that financial stability for those we love. Unfortunately, some insurance companies take advantage of this devotion by jacking up premiums later in life to discourage policy owners from keeping their policies.
Some may call this tactic sleazy. We call it insurance fraud.
In recent years, we’ve seen a number of cases in the Norfolk area where life insurance companies have informed their policyholder that their premiums are skyrocketing, leaving the policyholder with one of three options:
- Cancel the policy.
- Pay the outrageously high premiums for no additional benefit.
- Wipe out the life insurance policy savings you’ve accumulated.
At Lowell Stanley Injury Lawyers, we think you should consider a fourth option: give us a call. We know how to deal with insurance companies that take advantage of their customers, and we’ll do everything within our power to make them regret they ever tried to cheat you out of your hard-earned money. Protect your rights and your family’s future and give us a call today.