Protecting Seniors from Insurance Fraud: New Guides Offer Advice and Empowerment

As senior citizens in the United States control half of the discretionary income and three-quarters of the financial assets, they have become a lucrative target for insurance scams. According to estimates, 30% of all financial scam victims are over 50, making self-protection a top priority. Two new books from Merritt Publishing, "The Over 50 Insurance Survival Guide" and "What Do You Mean It's Not Covered?", aim to provide seniors with the tools and knowledge to avoid financial traps and make informed decisions about their insurance needs.

Key Takeaways:

• The two new books from Merritt Publishing are dedicated to arming consumers, specifically senior citizens, against potential insurance fraud.
• Seniors control half the discretionary income and three-quarters of the financial assets in the United States, making them a lucrative target for insurance scams.
• "The Over 50 Insurance Survival Guide" provides ammunition to avoid becoming a victim of insurance scams, while "What Do You Mean It's Not Covered?" guides consumers through the labyrinth of personal insurance options and traps.
• The books explain how insurance needs change over time, what special considerations apply to different types of insurance, and what questions need to be asked of insurance agents when purchasing policies.
• "What Do You Mean It's Not Covered?" helps consumers determine exactly what their policies cover through case studies and reports from insurance veterans, outlining common mistakes made by consumers and how to avoid them.
• The books thoroughly analyze the seven basic types of consumer insurance, including homeowners, automobile, health, and life, to help consumers make sense of the insurance maze.

Statistics:

• Seniors control half the discretionary income and three-quarters of the financial assets in the United States.
• 30% of all financial scam victims are over 50.
• The insurance maze has become a self-service market, where consumers are left to fend for themselves when purchasing insurance and filing claims.

Sources:

• "The Over 50 Insurance Survival Guide" and "What Do You Mean It's Not Covered?" from Merritt Publishing.
• Cynthia Chaillie of Merritt Publishing.