The alert lists five key areas to take precautionary measures. Here is an abbreviated list of the tips:
1. Read the Fine Print
2. Look for Red Flags
To confirm the credibility of a company or agent, look for these warning signs when approached by a company:
- High-pressure marketing and an extreme sense of urgency, telling you that you “must act now” or “this is a one-time offer.”
- The company or agent offers unusually low premiums that are considerably below the average price for comparable insurance products on the market (25% or more cheaper than the going rate)
- Promises of generous benefits for your employees, a large network of physicians and expansive coverage of services.
3. Do Your Homework
Who is responsible for paying the claims? Every entity contracting to take on such risks needs to be licensed, as do their agents.
4. Get More Information
5. The Final Word
If it seems too good to be true, it probably is!
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