Life insurance is supposed to ensure that your loved ones receive a lump-sum benefit when you pass away, offering certainty that your family will be financially taken care of in your absence. However, recent developments at a major company have shaken trust in the industry.
Over 100 employees of Prudential Life Insurance defrauded nearly 500 clients of close to $20 million (£14.6 million) over several years. In a press conference last week, the company apologised to clients for the fraudulent activities and promised to compensate those affected.
