Florida State Treasurer and Insurance Commissioner Bill Nelson has filed administrative charges of deception and misrepresentation have been against American Benefits Services Inc. (ABS), which sells life-insurance policies through agents and direct mail to terminally ill persons.
The Lake Worth-based firm, being investigated by other state and federal authorities, is alleged to have sold and-re-sold invalid life-insurance policies amid claims that the state’s insurance department was a “participating partner.”
The firm has 21 days to answer the allegations or face the loss of its operating license. ABS was not available for comment at deadline.
Network
