When choosing health insurance packages be sure to read the fine print.

In the event of a severe illness or injury, recovery often requires care, surgery, or diagnostic testing that can be extremely expensive. As a result, individuals purchase health insurance policies which protect them financially in the event of an unforeseen accident. While many company sponsored plans are entirely legitimate, people forced to purchase individual health insurance can on occasion find themselves dealing with a disreputable company. Most of these insurance companies take advantage of the myriad of complexities involved in the practice of medicine, and finding a truly comprehensive and fair coverage requires a certain level of diligence and common sense.

Denial for Pre-Existing Conditions

Many insurance companies will promise coverage of a wide umbrella of ailments, only to deny your claim based on the fact that it was a pre-existing condition. As the time frame of when you contracted a disease and when you developed symptoms can be sketchy, insurance companies can use these ambiguity to deny you benefits. When searching for cheap health insurance quotes online, be sure the policy covers pre-existing conditions.

Fine Print

Some policies promise comprehensive coverage, yet do not cover specialists, separate diseases caused by the original illness, and more expensive diagnostic tests. Many individuals who are healthy and shopping for individual health insurance don’t anticipate the wide variety of costs associated with a serious malady. Be meticulous in researching what areas are not covered by a policy, and determine in advance if you are comfortable with such limitations.

Fake Government Health Care

As many are still unaware as to how the new health care legislation works, scam artists are using this ignorance to take advantage of everyday citizens. Scam artists set up phony associations in the name of government health care, either offering full health insurance plans or special discount cards on doctor visits. With rising health care costs often suffocating the average citizen, it provides the perfect environment to offer deals that are too good to be true. Individuals interested in government health care should contact the appropriate federal agency for more information, and never reply to direct solicitations.

A worry free vacation always requires some planning and travel insurance.

Although many of us have insurance to cover a variety of unforeseen circumstances, few if any of these policies are applicable when we travel overseas. This can be a discomforting scenario given that most travelers are more susceptible to the risks of illness, injury, and theft when on vacation in a foreign land. As a result, most tourists purchase some form of trip protection insurance that typically covers losses due to theft or medical issues. Unfortunately, as many travel insurance companies are unknown and require just a single payment, it becomes difficult to distinguish between the scammers and the legitimate agencies. Worse yet, this fraud often goes unreported, as every year thousands of individuals return from their trip healthy, never realizing they bought travel insurance from a fraudulent organization.

Travel Insurance Fraud

As travel is not a common endeavor, individuals may be unfamiliar with the companies who provide trip protection insurance. Checking with a recognized ratings organization such as AM Best will help you discern whether the travel insurance company you are doing business with is legitimate.

Unwarranted Coverage

Some travel insurance isn’t so fraudulent as it is unnecessary. Many companies will take on additional fees that cover you financially in the event of an airline crash. Not only is an airline crash extremely rare, the likelihood of surviving such an incident makes the insurance superfluous. Other times coverage for such events is given in place of legitimate concerns such as hospitalization and injury benefits. Before purchasing coverage, check to find out exactly what scenarios are covered by the trip insurance policy.

Comprehensive Medical Coverage

As is the case with medical coverage, any persons suffering from a pre-existing condition should verify the illness is covered by the travel insurance policy. Individuals should also be aware of particular clauses that may deny benefits for individuals who engage in extreme sports or risky activities abroad. These policies typically require a higher insurance payment, and individuals who participate in outdoor ventures should be wary of plans that offer cheap rates for comprehensive coverage.

Victims looking to get a free credit report often get their identity stolen. Consumers must be sure to deal with a reliable company.

The specter of identity theft and cyber malfeasance can loom large over a person’s credit score for decades. While you may have been able to recover your funds after an erroneous transaction, your credit report may still reflect the missed payments and criminal activity perpetrated by a cyber criminal. In other cases, the credit report itself may be hijacked and misrepresented to prevent you from obtaining a loan. Regardless, you should keep abreast of their current credit situation to make sure your records are accurate. Many free credit reports are offered online which quickly allow you to monitor your credit status. However, some free credit report providers are scam companies hoping to steal your credit information rather than report on it.

How to Check Your Credit Report Free

Under the Fair and Accurate Credit Transactions Act (FACTA), all individuals are entitled to a free credit report from any of the three major bureaus. The three agencies, Equifax, Experian, and TransUnion must provide a copy upon request every 12 months. The individual can request the report through one of three channels, phoning toll-free at 1-877-322-8228, going online at annualcreditreport.com, or completing the free credit report request form and mailing it to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

Free Credit Report Scams

AnnualCreditReport.com is the only website on the internet federally mandated and authorized to provide credit reports to consumers. Any third party site that offers a free credit report is typically a scam site hoping to retrieve social security numbers and other pertinent information. Users should also be aware of impostors who attempt to take advantage of typos and common misspellings of the URL.

Credit Inquiries and Credit Score

Contrary to popular belief, using the free credit report service does not lower your credit score, as it constitutes only a “soft” credit pull. This is in contrast to lenders who may trigger a “hard” pull which directly affects your credit standing. The free credit report score also differs from FICO, the three-digit number lenders use to gauge your overall loan worthiness. However, the standard credit report score is taken into account by the FICO formula, making it a vital piece of your credit qualifications.

Getting an Identity theft lawyer can be the beginning of the end to a stressful situation.

While people are guarded about divulging personal information to strangers, when it comes to entering their information on a form, people are surprisingly forthcoming. They will enter names, addresses, and even social security numbers on internet sites they believe to be genuine. When this information finds its way to a scammer, individuals can quickly become targets of identity theft. With hundreds of thousands of individuals falling victim to identity theft each year, many find little recourse as banks and companies refuse to refund or cancel the erroneous charges and withdrawals made to their account.
The consequences of identity theft are numerous. Thieves can run up a number of charges on your existing credit cards, and worse yet, open up new cards in your name. If they change the address and billing confirmation, it can take months before you realize your identity has been hijacked. They can take out loans and empty bank accounts, and even get arrested under your name.

Putting a Halt to Identity Theft

The first step victims of identity theft should take is contacting a professional attorney. A lawyer well versed in identity crimes can inform you on how to proceed, quickly filing the necessary reports and documents to put a halt to any future criminal activity.

More than Legal Action

A proven identity theft lawyer can help resolve these issues and restore your finances. Whether it is fighting to regain your funds or pursuing litigation against cyber thieves, having an attorney take care of all the necessary paperwork allows you to move on with your life. As the stress of recovering your identity can cause considerable mental anguish, having a professional to counsel you during this difficult time can provide its own catharsis.
Class Action SuitsOn some occasions your identity may be stolen through no fault of your own. Sites with poor security measures can be liable for failing to protect your information. Other sites are guilty of outright fraud, selling your data to interested parties and spammers. In the event your personal information has been wrongfully solicited, an identity theft lawyer can help you seek financial compensation for the damages.

Identity Theft Insurance offers protection and can be highly useful.

For most people who use the internet frequently, identity theft is a real possibility. Studies by the Federal Trade Commission report that every year hundreds of thousands of individuals are the victim of the cyber crime. Typically these thefts are relatively minor. However, in ten percent of all cases, cyber criminals made off with at least $10,000 in cash or goods. Furthermore, the damage to one’s credit as a result of identity theft can be irreparable.
Statistics show that more than half of all victims have no idea when or how their personal information was purloined. For the less technically inclined, this makes identity theft all but an inevitability. Yet the consequences associated with identity theft don’t have to be. By purchasing ID theft insurance, individuals can quickly restore their finances if and when an attack occurs, letting the insurance company compensate and assist you with the recovery of funds.

Insurance Coverage

Depending on the policy, identity theft insurance provides the customer with a fraud counselor and specialist to restore your identity. Many policies offer to cover a portion of your financial losses until the stolen money is restored. This reimbursement can also cover the variety of legal and filing costs associated with recovering your identity, such as notary and mailing costs, lost wages, and attorney fees. Some homeowner insurance policies include identity theft protection in their package. Those with existing homeowner insurance policies should check with their provider to see if identity theft protection is included or sold as a separate policy.

Identity Theft Insurance Scams

Buyers of identity theft insurance should be wary of scams on the internet that offer little protection when identity theft occurs. These policies will typically deny any claim due to user negligence, claiming the victim did not properly secure their computer. A legitimate identity theft protection plan will cover the individual regardless of how the theft occurred. Generally, anyone looking to purchase identity theft policy should verify the insurer with a reputable ratings organization such as AM Best before signing up.

Cross-Scripting Attacks

A common method hackers used to access user data is through attacks known as cross-scripting. A hacker must simply lure a user to a specific web location, either via an email or re-directing them from a seemingly legitimate site. This secondary site carries an embedded script which mines the cookies stored on a browser. These cookies contain vital information such as stored passwords to banking and commerce sites. As even perspicacious users will occasionally visit a malicious web link, it’s important to update to the latest version of your web browser and install script disabling add-ons such as No Script to prevent attacks on your machine.

Free Malware Programs

Although anti-viral software programs install firewalls and malware detection, many users are not in the position financially to renew this software year after year. For these users, free firewall and malware detection software provides a cheaper and effective solution. In fact, most operating systems come with an internal firewall and security measures to prevent basic attacks, leaving only spyware and malware detection to third party products. Popular tools such as Spybot or Ad-aware can remove malicious software without the cost of an expensive anti-virus system.
In addition to software, by taking a common sense approach to internet browsing and downloading, users can avoid most of the root causes associated with identity theft. Never click on hyperlinks from strangers, and never download an .exe file from a suspicious site.

Online Fraud has destroyed many people's lives.

The advent of the internet has changed the way we do commerce. Commodities can be bought and sold with the click of a button, with money being transferred instantaneously over channels that are as invisible as they are ubiquitous. In addition to convenience, online investing gives us access to markets previously only available through brokerage firms and middlemen. Investors are given far more power, able to make decisions on their own without having to pay for expensive commissions. Unfortunately, this freedom also comes with a price, as scam artists flock to the internet to take advantage of electronic money transfers and looser regulations. Every year over 125,000 victims report losses due to cyber theft, losing investments of more than $100 million.

Online Trading Scams

In the past, a scam artist looking to set up a brokerage scam would require a lot of effort. They would need to set up a fake office, purchase supplies, and put on a show for a prospective mark. This could only be profitable if the client was looking to invest heavily, and even then the very idea seems more like a farfetched movie concept than an actual scam. However, on the internet, constructing a legitimate looking website is far easier. Money transfers can be sent electronically to anonymous bank accounts overseas. The rise in online trading scams has made it incumbent on all investors to check and verify if a trading firm is approved and regulated by the SEC.

Email and 419 Scams

Other scams require neither investment into stocks, annuities, or other traditional methods of trading. In recent years more basic cons like Nigerian 419 scams have become popular on the internet. Usually these scams begin with an email from a supposed member of Nigerian royalty, asking for funds to help them access their lavish fortune, part of which they promise to their generous benefactor. In reality many of these Nigerian kings are scam artists hoping to use the internet to take advantage of gullible westerners. Investors should make a habit of deleting all unsolicited emails to avoid being ensnared in these types of scams.

Investing in Real Estate is more secure when done for a long term return.

For most individuals, the purchase of a home is a significant step in their lives. A home is more than just a place to live, it’s a sanctuary from the noise, a collection of memories, a place where family comes together. Yet beyond the emotional significance, a home is also a valuable piece of property, and a vital component of your investment portfolio. Its value can increase dramatically over time, and if it is the primary place of residence, it can be sold without incurring a capital gains tax. The value of real estate pushes many investors to not only buy a home for personal use, but invest in a second home to be used as a fungible commodity. Unfortunately, the popularity of real estate purchases also attracts scam artists, many of whom attempt to sell bogus properties to individuals hungry to invest.

Mortgage Refinancing

Individuals looking to refinance their home can be fooled by an extremely low rate. These rates are often offered up by scam artists who request an upfront processing fee before disappearing. Other fraudulent tactics include promising a low fixed rate mortgage when in actuality the interest is variable. Before refinancing your home or taking out a home equity loan, peruse the details meticulously and do not take any loan offers from an unsolicited caller.

Real Estate Scams

Some individuals may be looking to invest not in a home for themselves, but a secondary property or apartment building to lease. In order to attract prospective buyers, sellers may fudge the amount of profit being earned from their tenants, quoting high returns on the internet. These profits are generally best case scenario figures, and prospective buyers should request detailed financial records of the last two to four years regarding tenant income, building expenses and turnover. Buildings should be inspected to ensure no renovation or electrical upgrades are required. Ask the previous owner why they are selling. After all, if a certain building were really that profitable, there would be no reason to sell.
Another common scam is selling real estate over the internet. These are generally targeted at individuals looking for a cheap property to invest in but live outside the state it resides in. The scammer sends pictures of the property and stresses the urgency of buying now. Unable to inspect the property, the buyer transfers over the assets on good faith. However, the pictures turn out to be stock footage of an unknown house.

Planning Your Retirement requires a lot of effort, but it will pay off!

One of the most critical elements to investment planning is saving for retirement. Most individuals, after all, neither want nor are capable of working their entire lives. Furthermore, the increases in life expectancy make planning for retirement all the more urgent even for those entering the workforce for the first time. However, saving the money for a future that seems far off is difficult given the necessities of the present. Thankfully, many retirement investment vehicles are full of incentives to motivate individuals to start saving right away.
Traditional and Roth IRATraditional IRA’s provide workers with a way to defer their tax liability until they retire. For those who make more income now than they will in the future, contributing to a tax-deferred traditional IRA makes sense. For individuals who currently make a low annual income, investing in an after tax or Roth IRA will allow them to withdraw that money tax free when they retire.

Employer Sponsored 401

kAnother strong strategy for retirement planning is an employer sponsored 401k. These plans typically match any contribution up to a specific dollar amount, in effect increasing your overall pay. Failure to take advantage of a 401k can be a fatal mistake for most young workers rapt with the desire to spend now. Some insist that a company 401k makes little sense for a job that is only temporary. However, individuals who leave a company can easily roll their 401k over into an IRA.

Retirement Scams

Many retirees have grown a considerable nest egg but did not account for the increase in life expectancy or rise in inflation. Suddenly they are forced to live far more frugally in order to survive. In order to escape this financial pressure, many are lured into attending get rich quick seminars and other scams that promise high and immediate returns. These seminars are usually headed by a prominent trader but done outside the legal parameters of the SEC. Retirees should be wary of any seminar that makes such lucrative promises as they could be part of a more elaborate Ponzi scheme.

Mutual Funds can be a very safe way to long terminvesting

By bundling together a diverse portfolio of stocks and bonds, mutual funds provide customers with a relatively safe and professionally managed investment vehicle. Most companies offer mutual funds in a variety of investment types, from strictly bond funds to international stocks to tax-free investments in your state. Mutual fund companies also provide you the option of investing in a personal account, a 529 college savings plan, and a tax-free or tax-deferred IRA. However, not all mutual funds are managed properly, and some charge inordinately high fees. With more mutual funds being offered today than actual stocks, choosing the right mutual fund often requires more research than any other investment strategy.

Broker Commissions

Outside investments of a million dollars or more, mutual funds typically come with a sales charge. Often times mutual fund companies will only list return figures based on net asset value, and not the value after the sales load is applied. This load is generally about 5 to 6% of the total cost. Therefore even a healthy return of 8% in the first year is immediately cut down to nearly zero after inflation. While over the long term the effect of the load is negligible, some unscrupulous brokers will suggest the client sell the fund in order to gain a commission, constantly undercutting the total return.

Management Fees

Up to 2% of the total gain goes directly to management fees. Typically, users are willing to pay this price in order to have their portfolios managed by a professional. However, some companies will charge fees much higher than the industry standard. Other fund managers will trigger large sales that may result in a capital gains tax, even if the overall mutual fund is losing money to give the perception that the fund is profitable.
Before investing in a mutual fund, be sure to thoroughly examine the prospectus. Verify the sales charge on both front-end and back-end load funds, as well as the applicable management fees. A seemingly well performing fund may actually provide poor returns if these fees and charges are taken into account.