While murder for hire plots for death benefit proceeds make the news, and make for interesting episodes of Dateline, Non-Claims Life Insurance Fraud is a very real area of concern. The financial impact of these schemes may surprise you.
In the life insurance industry at large there are numerous fraud schemes. In fact, many schemes may mirror fraud schemes seen in other areas of insurance fraud. However, because of the unique commission structure in the life insurance industry, the amount of premium funds in play, and factoring in the death benefit, the financial impact per fraudulent transaction is greater than in many other areas of insurance fraud.
