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  The Society for Consumer Advocates and Mavens

News You Can Use!

KICKBACKS HIKE YOUR INSURANCE PREMIUMS

Insurance companies may pay cash "kickbacks" to insurance salespeople in order to sell their policies which may inflate the insurance premiums you pay on life, health, auto and homeowners insurance! This is why the Attorney General for the state of New York has investigated several nationally known, once well respected insurance companies.

This also includes any insurance you may have purchased through your employer too. You could also be paying too much into your employer's insurance because of inflated commissions paid to the salespeople who sold your employer on certain companies' insurance policies!

Especially beware of insurance salespeople who are so-called independent agents! They are supposed to try and find you the best, most economical coverage for you. However, they may lead you to the insurance policy that nets them the largest commission! They may not always have your best interests at heart.

SUPPLEMENTAL SOURCE: CONSUMER REPORTS MAGAZINE JANUARY 2005

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