With the development of society and the improvement of people's income levels, financial insurance has become a choice for more and more people. However, at the same time, some unscrupulous individuals also took advantage of financial insurance to promote various scams, bringing huge economic losses to consumers. This article will reveal some common financial insurance scams to help readers increase their vigilance and avoid being deceived.
Scheme 1: False Insurance Products
Some illegal elements promote so-called high return insurance products through false advertising and other means to attract consumers to purchase. These insurance products often claim to generate high profits that exceed the market average return, but in reality they are a form of pyramid scheme or Ponzi scheme. When consumers make a purchase, they quickly realize that they cannot receive the promised return, resulting in heavy losses.
In order to avoid being deceived, consumers should carefully understand the background and reputation of insurance companies before purchasing insurance products, choose qualified and reputable companies, and not easily believe the high return rate of exaggerated advertising.
Scheme 2: financial insurance renewal trap
Some insurance companies often conceal or intentionally blur the renewal terms of insurance products when selling wealth management insurance, in order to achieve the goal of selling more insurance. When consumers purchase, they are informed that the insurance can be continuously renewed. However, in fact, as they age, the premium will continue to rise until a certain age reaches the maximum age limit, and the insurance company will refuse to renew the insurance. Consumers can only bear the risk or choose to purchase a new property insurance plan.
To avoid falling into the renewal trap, consumers must carefully read the insurance contract and consult insurance professionals for their understanding and explanation of the renewal terms when purchasing wealth management insurance.
Scheme 3: early termination of policy
Some unscrupulous individuals or intermediary companies may induce consumers to terminate their financial insurance policies prematurely after purchasing them, in order to obtain huge commissions. They often claim to consumers that after the policy is terminated, they can receive higher returns than the premium, attracting consumers to voluntarily terminate the contract. However, in fact, early termination of the policy will result in consumers losing a significant amount of premiums and even not receiving any refunds.
To avoid being harmed by early termination scams, consumers should remain vigilant, carefully consider any termination proposals, and consult with insurance companies or professionals.
Scheme 4: False Claims Delay
Some illegal insurance companies or intermediaries may use delaying or shirking responsibility to reduce claims expenses, in order to encourage consumers to abandon claims or accept lower compensation. They will deliberately set up cumbersome claims procedures, delay processing time, and even coldly process consumer claims requests.
In order to avoid the problem of false claims delay, consumers should understand the claims records and reputation of insurance companies when choosing insurance products, and consult with others' experience and opinions to ensure timely and reasonable claims when needed.
Summary
Financial insurance not only provides protection for people, but also breeds some scams. As consumers, we should always be vigilant against these scams, enhance our self-protection awareness, purchase insurance products with caution, choose reputable insurance companies, and consult professional advice. Only in this way can we obtain real profits in financial insurance and protect our own interests.
