Life Insurance Fraud Fundamentals - OESAI

Description

Since life insurance pays when someone dies, shouldn’t it be difficult to commit fraud? Wouldn’t one have to fake a death? Is fraud a serious problem in the life insurance industry?

Yes, it is. People can and do fake deaths. And there are forms of fraud that do not require phony deaths, such as application fraud and viatical fraud.

This training, Life Insurance Fraud Fundamentals, will help your team to understand the life insurance fraud schemes and the impact of life insurance fraud and the part that they can play in identifying and preventing it in their day-to-day operations.

Learning Outcomes

After completing this training, they will be able to: -

• Explore major risks covered by life risk policies
• Describe the principal life insurance products
• Provide examples of life insurance fraud schemes, including application, claim, and agent fraud
• Explain how viatical fraud works
• Discuss the investigative and legal issues related to life insurance fraud

Programme Outline

• Course Overview and Insurance Fraud Statistics
• Introduction to Insurance Fraud
• Life Insurance Products
• Life Insurance Fraud
• Investigative and Legal Issues