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Avoid Becoming a Victim of Insurance Scams during Older Americans Month

FOR IMMEDIATE RELEASE– May 14, 2015

 Get Into the Act- Avoid Becoming a Victim of Insurance Scams during Older Americans Month

 CARSON CITY – May is Older Americans Month, and this year’s theme is to “Get into the Act.” To honor this event, the Nevada Division of Insurance urges consumers to be on the lookout for some red flags to avoid being fooled by deceptive sales practices.

Nevada Insurance Commissioner Scott J. Kipper is sharing important tips with Nevadans on how to prevent the most vulnerable such as the elderly from becoming victims of insurance scams.

 “By taking proper precautions, consumers can avoid becoming prey of the unscrupulous looking to make easy money from the elderly,” said Commissioner Kipper.

Don’t give into high-pressure sales pitch. If a particular group or agent has contacted you repeatedly, offering a “limited-time” deal that makes you uncomfortable or aggravated, trust your instincts and steer clear.

Beware of quick-change tactics. Skilled scam artists will try to prey on your “time fears.” They may try to convince you to change coverage quickly without giving you the opportunity to do adequate research.

They are unwilling or unable to prove credibility. A licensed agent will be more than willing to show adequate credentials. You can verify someone is licensed by visiting the Division of insurance website.

Remember, if it seems too good to be true, it probably is! For more information and tips you can visit the Nevada Division of Insurance website at http://doi.nv.gov/Consumers/Annuities/

If you feel you have been a victim of deceptive sales practices, you can file a formal complaint online, or call (775) 687-0700 or (702) 486-4009.

About the Nevada Division of Insurance

The State of Nevada Division of Insurance, a division of the Nevada Department of Business and Industry, protects the rights of Nevada consumers and regulates Nevada’s $11.9 billion insurance industry. The division has offices in Carson City and Las Vegas. In 2014, the Division investigated more than 2,800 consumer complaints and recovered nearly $4 million on behalf of consumers. For more information about the Division of Insurance, visit DOI.NV.GOV or download the Division’s smartphone app NDOI Connect today in the Apple App Store and Google Play.

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