Predatory life insurance agents are one of the worst professionals that anyone can encounter. These agents know that people need to have life insurance and instead of talking to their potential customers or existing customers about their needs, they are only interested in what will benefit them. While it’s uncommon to find these agents, there are ways to fight their snake-oil charm and fast talking.
One of the best things that people can do when working with a life insurance agent is to ask questions. Don’t be ignored or rushed into doing or signing anything. If there is a question that needs to be asked, the time to ask is before signing a contract and spending money that could have been spent on something else. People that take their time and ask questions are not the easiest people to scam and questionable insurance agents will try to avoid them at all costs.
The Scams and How to Avoid
When people have decided to sign up for life insurance, many will enroll through an actual insurance agent. During the meetings, many things should be discussed before being asked to sign and pay for a policy. When a predatory agent is looking for a victim, some common things may happen.
Overselling and Under Insuring- Everything has an upgrade it seems and life insurance is no different. When a person wants life insurance that is all they are interested in. Questionable insurance agents don’t take the time to listen for what their customers want; they only talk about the upgrades and add-on features that are available.
Don’t fall for this. When an agent refuses to discuss what is necessary and tries to force the issue of adding additional things to an insurance policy, refuse to go forward with the meeting. In some cases, it’s advised to leave the office or ask the agent to leave the home because they are not focused on their customer’s need. Find another insurance agent that is willing to listen and not sell.
We Only Take Cash- There is no good that will come from a company that only wants payments in cash. Not all agents are honest when it comes to turning those premiums in to the company. If an agent wants to sign a customer up for a policy, they should be able to take cash, check or credit card payments.
If an agent insists on accepting cash only, don’t sign up for the policy and don’t give them any cash. The likelihood of being fooled is huge. There are many people that fell for this for years only to find they were uninsured, out of their premium payments and left with no way to get justice. Find another agent and insurance company with more acceptable practices.
Unfortunately there are a lot of scams that are hard to ignore. With life insurance being so important and complicated, many people are scared to question the expert. Instead of allowing an expert to bully their way into a new customer and sale, it’s best to do research and ask questions.
With the right about of research and questions, people will get the right amount of coverage and security for the best price.