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.