Sign up for our FREE Monthly Email Newsletter
In addition to keeping in the financial know, you may be interested in checking your credit score and report.
¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.
²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.
³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.
4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.
Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.
Life insurance can give you the peace of mind that your spouse or children will be taken care of in the event of your death. Unfortunately, there are fraudsters out there who know how to prey on your fear for your dependents and scam you out of thousands of dollars.
When you’re shopping for a life insurance policy, it’s important to recognize scams and life insurance sales pitches that benefit only the agent, not the policyholder.
Look out for tie-ins. Be wary of this scam when you are shopping for auto or home insurance. Many automobile insurance carriers offer multi-line discounts for policyholders who have more than two lines of insurance with them. To increase production numbers, some insurance agents will give you two quotes: one for the policy you requested, another for the policy you requested tied together with a life insurance plan you didn’t request. The second quote is usually cheaper.
Make sure that the agent is only quoting you what you request. When an agent generates a life insurance quote, a disclaimer pops up telling him or her that you must be notified that the quote will gather personal information about you. If you consented to your personal information being accessed only for an auto insurance quote, not a life insurance quote, contact your state insurance department and file a complaint.
Don’t make payments directly to the agent. Never sign a check or send money directly to your agent. If your insurance agent asks you to start paying your life insurance premiums directly, he or she is likely to pocket the money and leave you without insurance coverage. Seek coverage elsewhere.
Understand churning. Churning occurs when an insurance agent promises you a policy that is supposedly better but costs more and doesn’t actually offer any added benefits. The result of this life insurance scam is simple: You end up paying more for the same type for coverage, and the insurance agent collects a higher commission. If your agent calls you to upgrade your insurance policy, make sure that you are getting a complete proposal before signing any forms.
Investigate the agent. Always do your research about life insurance companies. Verify licensing through the state insurance department and read reviews online. In addition, use caution if you find that other insurance institutions have terminated an agent.
Review all documents. Never sign blank documents or documents filled out by the agent. Ask to see copies of everything you are asked to sign and the premiums and benefits you are to expect with your policy. Many insurance companies are utilizing electronic applications, requiring applicants to sign their name on a pen pad while the agent scrolls through the app on the computer. Make sure the agent is showing you every screen and not just paraphrasing, expecting you to sign blindly.
Walk away. If you are being pressured in the office or over the phone, just tell the agent no and walk away. If you don’t want your existing agent to contact you about up-sales, ask him or her to add your number to the “do not solicit” list and add that you don’t want unsolicited e-mails, phone calls, or letters.
Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.