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Why do people think that they can lie to insurance companies?
Posted on 10/20/16 at 12:37 pm
Posted on 10/20/16 at 12:37 pm
I've been selling life insurance and financial products for almost 14 years now. I have my own private brokerage. I receive residuals from over $6 Million in annual life premiums from individual client plans alone, throw in group premiums (residuals for those suck btw) and it's almost $30 Million. And I am still amazed at how many people are willing to blatantly lie to an insurance company.
So I drive to client's place of business to enroll him in a life insurance product and set up a mutual fund account for his Roth IRA.
As I pull into the parking lot I see the guy finishing a cigarette. I've never met him before so he doesn't know that I saw him. I meet him inside.
Now every life insurance application has a question about tobacco use, and I asked him "Have you used tobacco products within the last 24 months". I already knew what he was going to say, and of course, he lied to me.
This puts me in a shitty position because I now have a legal obligation to inform him that I witnessed him smoking 15 minutes ago and that it if he knowingly provides false information to an insurance company, he is guilty of a crime.
He'd likely never be prosecuted, but the company would not pay his claim so the only person he'd be fricking is himself and his family.
Why do people think that they can outsmart a life insurance company? Even if I hadn't seen him smoking, the insurance company will know if he's lying simply by checking the MIB. It's a TRILLION DOLLAR INDUSTRY FOR frick'S SAKE, they are not stupid.
/ rant
So I drive to client's place of business to enroll him in a life insurance product and set up a mutual fund account for his Roth IRA.
As I pull into the parking lot I see the guy finishing a cigarette. I've never met him before so he doesn't know that I saw him. I meet him inside.
Now every life insurance application has a question about tobacco use, and I asked him "Have you used tobacco products within the last 24 months". I already knew what he was going to say, and of course, he lied to me.
This puts me in a shitty position because I now have a legal obligation to inform him that I witnessed him smoking 15 minutes ago and that it if he knowingly provides false information to an insurance company, he is guilty of a crime.
He'd likely never be prosecuted, but the company would not pay his claim so the only person he'd be fricking is himself and his family.
Why do people think that they can outsmart a life insurance company? Even if I hadn't seen him smoking, the insurance company will know if he's lying simply by checking the MIB. It's a TRILLION DOLLAR INDUSTRY FOR frick'S SAKE, they are not stupid.
/ rant
22
Posted on 10/20/16 at 12:41 pm to Vols&Shaft83
do you not test for tobacco use in blood or urine test?
I am on the contents side and people lie to me all the time, while I know they are. I just laugh and continue on
I am on the contents side and people lie to me all the time, while I know they are. I just laugh and continue on
Posted on 10/20/16 at 12:56 pm to Vols&Shaft83
Because being a smoker means a higher rate. Duh.
Good to know about the MIB, I will stop lying for my wife.
Good to know about the MIB, I will stop lying for my wife.
Posted on 10/20/16 at 1:04 pm to Vols&Shaft83
Dude is a fricking idiot 
Posted on 10/20/16 at 1:06 pm to Vols&Shaft83
It's really hard, because I'm sure you want to help people but they make it impossible when they try to lie to you.
Posted on 10/20/16 at 2:40 pm to Vols&Shaft83
I am not a smoker but I chew so technically I am not lying
Cheaper Rates FTMFW
Cheaper Rates FTMFW
Posted on 10/20/16 at 2:49 pm to Vols&Shaft83
quote:
MIB
Whoa. I know everyone always says that government and insurance companies are in bed, but I never knew they let y'all use the Men in Black to find shite out on people. That's hardcore.
Posted on 10/20/16 at 3:42 pm to Vols&Shaft83
Just do your job and stop complaining.. Not like your a doctor that's actually worrying about his health. You're just an a-hole trying to cash in on it and him smoking curbs the odds..
Posted on 10/20/16 at 3:46 pm to Vols&Shaft83
quote:
He'd likely never be prosecuted, but the company would not pay his claim so the only person he'd be fricking is himself and his family.
Really on the agents to do a better job of explaining this to people. If you get lung cancer, you better believe life insurance companies will investigate cause of cancer
Posted on 10/20/16 at 4:28 pm to Vols&Shaft83
quote:
I've been selling life insurance and financial products for almost 14 years now. I have my own private brokerage. I receive residuals from over $6 Million in annual life premiums from individual client plans alone, throw in group premiums (residuals for those suck btw) and it's almost $30 Million. And I am still amazed at how many people are willing to blatantly lie to an insurance company.
Well, now we know why you buttchugg wine!
Q : Have you had a drink in the past week
A : No
*nudge nudge wink wink* I just shoved a box of cheap wine up my arse tho!
If you are selling life insurance, why do you waste so much time here? Have you just lied about your work habits?
Posted on 10/20/16 at 5:23 pm to Vols&Shaft83
Was is this "MiB" you speak of?
Posted on 10/20/16 at 6:48 pm to Vols&Shaft83
Why didnt you just say you saw him smoking and level set the conversation?
Also where does butt chugging fit into the life insurance equation? just asking since you are a Vol etc.
Also where does butt chugging fit into the life insurance equation? just asking since you are a Vol etc.
Posted on 10/20/16 at 9:25 pm to Vols&Shaft83
quote:
Why do people think that they can outsmart a life insurance company?
Because it's pretty easy
This post was edited on 10/20/16 at 9:25 pm
Posted on 10/20/16 at 10:03 pm to Vols&Shaft83
what is MIB?
Posted on 10/21/16 at 11:56 am to Vols&Shaft83
how do you get a copy of your MIB report?
Posted on 10/21/16 at 7:13 pm to Vols&Shaft83
Man, I've learned a lot in this thread. Thanks for posting, and the link to request the data from MIB
I used to work for NAIC, and I didn't even know about that source.
I used to work for NAIC, and I didn't even know about that source.
Posted on 10/21/16 at 8:00 pm to Vols&Shaft83
Question for you.
How would an insurance company know if I was diagnosed with something like cancer in another country and then came back to USA and got insurance? Then after a few months "discovered" I had cancer?
Just using this as an example....
How would an insurance company know if I was diagnosed with something like cancer in another country and then came back to USA and got insurance? Then after a few months "discovered" I had cancer?
Just using this as an example....
Posted on 10/22/16 at 11:20 am to Vols&Shaft83
quote:
I've been selling life insurance and financial products for almost 14 years now.
How miserable.
quote:
Now every life insurance application has a question about tobacco use, and I asked him "Have you used tobacco products within the last 24 months".
Why should I be punished for taking a dip from my buddy last summer while fishing?
Posted on 10/24/16 at 2:28 pm to Vols&Shaft83
probably for the same reason that insurance companies lobby the government to have their product forcibly purchased, and the same reason that insurance companies do everything they can to skirt their own responsibility to pay what they owe.
Money. Insurance companies and ANYONE that works for one are the scum of the earth.
Money. Insurance companies and ANYONE that works for one are the scum of the earth.
Posted on 10/24/16 at 9:14 pm to Vols&Shaft83
I have a "friend" who lies to his insurance companies all the time. Once he backed his new truck into something drunk then the next day took it to a store that he knew didn't have security cameras and called the cops claiming someone hit and ran while he was shopping. Didn't have to pay deductible or anything because it was labeled property damage.
He also faked having anxiety and did a bunch of coke the day before going to the DR to run his blood pressure up to get a xanax prescription because he likes to take xanax while drinking and health insurances pays for it.
Him and a friend also "stole" each others four wheelers and hid them in other friends shops for a few months and got the insurance company to basically pay for a new four wheeler then bought a few hundred bucks of plastic parts of a different color through a friends credit card and kept the other persons bike. they both got a free bike basically
He also faked having anxiety and did a bunch of coke the day before going to the DR to run his blood pressure up to get a xanax prescription because he likes to take xanax while drinking and health insurances pays for it.
Him and a friend also "stole" each others four wheelers and hid them in other friends shops for a few months and got the insurance company to basically pay for a new four wheeler then bought a few hundred bucks of plastic parts of a different color through a friends credit card and kept the other persons bike. they both got a free bike basically
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