IC warns public vs scam: Unlicensed insurers Golden Age, Benevolent preying on seniors

The Insurance Commission (IC) on Monday, Nov. 25, warned against two companies that sell pre-need and insurance products to senior citizens, as these firms were just spinoffs of previously shuttered companies. In a statement on Monday, Insurance Commissioner Dennis B. Funa said the IC had found that Golden Age Elderly Care Inc. and Benevolent Care Program Association were "mere continuations" of Majar Senior Citizen Damayan Inc. as well as Majar Insurance Agency and Business Ventures Inc. The IC issued cease-and-desist orders against Majar Damayan and Majar Insurance in 2015 and 2017 as these two companies had sold insurance and pre-need products without secondary licenses. Also...Keep on reading: IC warns public vs scam: Unlicensed insurers Golden Age, Benevolent preying on seniors

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