Avoid fraudulent sales scams with these tips:
Beware of unexpected calls. If you didn’t call them first, the salesperson probably found your information on a mailing list.
Don’t buy over the phone. The risk of fraud is greater if you buy insurance over the phone or online. Hang up on callers if something doesn’t sound or feel right.
Never be rushed. Be wary of offers for a “last-chance deal" or other appeals to make a quick decision. Take your time. If someone calls, emails, or mails you an offer, decline it. Next, look it up online to see if it’s true and the company is real.
Watch for scam artists. Be wary of people who say they are from Medicare, Social Security, or any government agency. Medicare doesn’t make sales calls. Also, health plans and annuities are never offered at a discount or sale price.
Keep all documents and take notes. Keep any paperwork you get from an insurance company. Write down the names of people you talk to and details of conversations you have.
Verify agents and companies. Before you buy insurance, call TDI to make sure the agent and company are licensed. We can also tell you a company’s financial rating. Call our Help Line at 800-252-3439. You also can call us to report insurance fraud or ask questions about insurance.
A TDI financial crime investigator helped nab a fraudulent radio host who lured people into signing over their annuities. Hear more on our latest Texas Insurance Podcast.
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