Life Insurance Fraud Prevention Fundamentals

Overview

A life insurance policy protects against the financial consequences of the death of one or more individuals. That is, if an insured dies while the policy is in force, the insurer makes a payment (known as a death benefit) to the beneficiary or beneficiaries designated by the insured.

Since life insurance pays when someone dies, shouldn’t it be difficult to commit fraud? Wouldn’t one have to fake a death? Is fraud a serious problem in the life insurance industry?

Yes, it is. People can and do fake deaths. And there are forms of fraud that do not require phony deaths, such as application fraud and viatical fraud.

This course, Life Insurance Fraud Prevention Fundamentals, will help your team to understand the life insurance fraud schemes and the impact of life insurance fraud and the part that they can play in identifying and preventing it in their day-to-day operations.