YOUR­SELF

CityPress - - Business -

So, how can you pro­tect your­self from be­com­ing a vic­tim of this type of crime? Here are a few tips:

BUY IN­SURANCE FROM A REP­UTABLE COM­PANY

This is prob­a­bly the best way to avoid fraud­sters. You can find out if the com­pany is le­git­i­mate by check­ing with the FSB to see if the com­pany is prop­erly reg­is­tered.

DEAL WITH THE RIGHT PER­SON

Fraud­sters some­times pre­tend to be em­ployed by known in­surance providers.

Baker says: “If you are in doubt, you can find out about the per­son sell­ing you the in­surance and con­firm if they are reg­is­tered with the com­pany they claim to be rep­re­sent­ing by con­tact­ing the FSB or the in­surance com­pany di­rectly.

“You would need to have the per­son’s full name and ID num­ber to con­duct this search.”

If the al­leged in­surer does not want to give you that in­for­ma­tion, it’s best to walk away and not do any busi­ness with them.

UN­DER­STAND THE PAPER­WORK

Don’t let any­one pull the wool over your eyes.

Visser says: “Ask to see the pol­icy in­for­ma­tion that the fi­nan­cial ser­vice provider is obliged to dis­close. Do not agree to any­thing that is not un­der­stood – a rep­utable in­surer has to be trans­par­ent and pro­vide all the rel­e­vant details.”

DO YOUR RE­SEARCH

Make sure you un­der­stand who’s be­hind the deal.

Baker says: “Some­times the peo­ple sell­ing in­surance poli­cies are not em­ployed di­rectly by the in­surance com­pany. Make sure that you know ex­actly which in­surance com­pany is car­ry­ing the risk on your pol­icy and pay­ing the claims.

“It’s crit­i­cal for you to un­der­stand the en­tire pol­icy, oth­er­wise your fam­ily mem­bers could run into trou­ble at claims stage.”

DON’T PAY CASH

Start a debit or­der rather than hand­ing over cash to peo­ple of­fer­ing you fu­neral cover.

“When go­ing with a di­rect fi­nan­cial ser­vices provider, pre­mi­ums will usu­ally be col­lected via debit or­der and all in­ter­ac­tions are recorded – and you’ll have ac­cess to them for fu­ture ref­er­ence,” says Baker.

“It’s also im­por­tant not to pay over any money un­til you have an of­fi­cial pol­icy doc­u­ment.”

Once you have cho­sen a le­git­i­mate fu­neral in­surance provider, let your fam­ily and loved ones know that they will be cared for should any­thing hap­pen to you, and let them know where the doc­u­ments are should any­thing hap­pen.

To find out if a com­pany or per­son is al­lowed to sell you fu­neral cover, call the FSB on 080 020 2087.

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