Top 4 Freakiest Insurance Frauds of all Time

Why do people commit insurance frauds? There are many reasons why people commit insurance frauds. Some people do it for the money, while others do it to take advantage of the system. Whatever the reason, insurance fraud is a serious crime that can have serious consequences.

In some cases, people who are not eligible for insurance benefits will commit fraud in order to get them. In other cases, people will commit insurance fraud in order to get coverage for something that they shouldn’t be covered for.

Whatever the reason, insurance fraud is a serious crime that can have serious consequences. If you are caught committing insurance fraud, you could face jail time, a fine, or both.

Moreover, insurance fraud affects everyone who has insurance, as it drives up the cost of premiums. If you commit insurance fraud, not only are you breaking the law, but you are also making it harder for everyone else to afford insurance.

One should also buy insurance in the right spirit and ensure that the principles of insurance are always maintained while buying a policy.

That being said, there are always people who look to game the system. Let us look at some of the freakiest insurance frauds of all time!

Top 4 Freakiest Insurance Frauds of all Time

There is no shortage of bizarre insurance frauds out there. From the claimants who try to fake their own deaths to those who staged accidents, there are all sorts of ways that people have tried to cheat the system. Here are some of the freakiest insurance frauds of all time.

1. Man kills an innocent man with a Cobra to claim life insurance

In 2021, an Indian man staged his death to lay claim to a US$5 Million life insurance policy. He not only staged his death but he went so far that he actually killed another person through Cobra bite and presented that person as the insured.

Since the life insurance policy was a massive one, the insurance company sent across their surveyors and investigators, which later on were able to unveil the diabolical plot.

2. Man fakes his death then gets caught for speeding

"Never in my life did I think I would be here,"

That is what Raymond Roth said when he was caught committing the fraud. Let's rewind to the part where he masterminded his way to committing a rather large insurance fraud.

Raymond Roth, along with his son, committed insurance fraud when his son reported to the insurance agency that his father had drowned in a nearby lake.

This lead to a massive search and rescue operation that ended up costing the Government thousands of dollars. They didn't end up finding nor rescuing Raymond, until Raymond himself managed to get a speeding ticket while recklessly driving.

Both father and son were sentenced for committing insurance fraud, Raymond Roth also had to pay thousands of dollars in damages to the State.

3. The baby killer

A man named Joaquin Rams laid the diabolical plot to kill his baby son, Prince, and actually had the nerve to follow through on his dastardly act. He killed his little son and laid claim to his $550,000 life insurance policy.

In 2008, Rams was also a suspect in killing his mother and claiming a $162,000 life insurance policy.

4. Man kills his mentally challenged best friend to collect insurance money

Joseph Meyers, best friend to David O’Dell, a mentally challenged man, murdered him by locking him in his room and burning the apartment down.

Meyers along with his wife, Iryn first attempted to take away David's medication with the hope that he would die without it. That didn't end up happening so the couple took more drastic steps and locked David in his apartment and burned it down. All with the goal of claim his life insurance policy money.