Ep 11: 33 Secret Policies, Altered Documents & “Insurance on Insurance”
26 Aug 2025 · 22 min
A conversational podcast episode (hosts Betsy K. Barr and Javon Spencer) that examines recent life-insurance fraud cases and practical insurance advice. Key items include a reported scheme where Joyce Small allegedly obtained 33 life insurance policies on 29 people (collecting about $211,000 and potentially nearly $2M if victims had died), a story about an Iowa agent (Christopher Childers) accused of altering dates on transfer documents, and a third case where an agent (Patsy Richie) pled guilty to stealing over $500,000 and received a lengthy sentence. The hosts also discuss accidental-death riders (described as “insurance on insurance”) and agency best practices to spot and prevent fraud.
Questions this episode answers
33 policies on 29 different people.
Allegedly collected more than $211,000; could have obtained nearly $2 million if all victims had died.
Insurance fraud, organized scheme to defraud, and grand theft.
Approximately $6 up to $30 (max) per policy.
The investigation started last August (relative to the episode's reporting).
Foreign. Welcome to Fraud Facts and Life Insurance with Agent Verified, the podcast that dives into the wild world of life insurance gone wrong. Every week, we peel back the curtain on real cases of financial chaos and help you spot the red flag before it's too late. We'll share what went wrong, why it happened, and how to protect yourself by working with the right agent. Hey, let's face it. These stories might have ended very differently if only they'd use agentverified.com. hey. Hey. Welcome back to Fraud Facts and Life Insurance with Agent Verified.
Absolutely. We are Betsy Barr and Javon Spencer coming to you with some horrifying stories, but also some positive, uplifting moments to not make it a completely downer. So let's jump right back into where we ended off. We were hearing about a lady that had done some awful things, and with life insurance. And, guys, remember, we're telling you all this because we don't want you to be the one that's scammed. Always be sure that you're heading over to agent verified.com. make sure that your agent is verified, because to be on Agent Verified, they have to be licensed, insured, and verified. All right, so here we go. Let's see this lady that was definitely not on hr.
Yeah, for sure.
Hassi after allegedly orchestrating a life insurance fraud scheme, police say that Joyce small secretly obtained 33 life insurance policies on 29 different people and allegedly collected more than $211,000 in life insurance benefits. If all the victims had passed away before she'd even been stopped, Small could have obtained nearly $2 million in death benefits. Small is now charged with insurance fraud, organized scheme to defraud, as well as grand theft.
Whoa. That's a lot.
What now?
Okay, let's.
Arrested in Tallahassee after allegedly orchestrating a life insurance fraud scheme. Police say that Joyce is Small.
That's definitely a scheme. Like, a massive scheme. Okay, okay, let's. Let's listen. Let's listen some more.
Secretly obtained 33 life insurance policies on 29 different people and allegedly collect 33.
Policies on 29 people. Okay.
Did more than $211,000 in life insurance benefits. If all.
Now that's the part I'm. So is it the commission or. She collected more than two, so. Oh, that's premium. So she collected more than $211,000 of premium or life insurance benefit. But then they said if it would have paid out, it would have paid her. So did she put herself as the beneficiary?
Herself as the beneficiary. Okay, how did she do that? She that, like, for 29 times. Not getting caught?
No, I mean, if you. I had an insurance company ask me. I wrote a policy on someone with the last name Spencer, and they wanted to make sure that we weren't relatives by just the last name.
Oh, wow. Well, you know what? This. I mean, obviously we're still speculating here, but remember how, like, used to. You would have to send in, like, I remember when I first got started, I had to send in all of my paper applications, like, to my upline, like, and they had to look at it, you know, to make sure that it all looked okay. Like, they used to call it scrub the application. And so it's like, then when it became a E app, you know, but those things, the carriers still flag it. So she must have been spread it out across a bunch of different carriers too. But, like, now there's. There's so much with technology that's going on to where we as, like, agency owners. Like, I can see all the information that my agents are putting down. Like, okay, hey, who's the insured? Who's the. Like, the name of the beneficiary is even included on some of the, like, the test things that I'm seeing so that I can actually track. Track that as well. Just a way to make sure that my agents aren't being fraudulent in any way. So it's just, you know, these checks and balances that now they're putting in because of cases just like this, because that is sketchy.
The victims had passed away before she'd even been stopped. Small could have obtained nearly $2 million in death benefits. Small is now charged with insurance fraud, organized scheme to defraud, as well as theft.
Wow. Just make sure your agent is on agent verified.com, please. I'm not.
Well, I mean, like, just make sure there are. And I mean, don't let someone. I mean, she was just probably. Don't let your agent be the beneficiary. Yeah, there's. I mean, the only time. I mean, the only time I'm the beneficiary, if it's literally like, on my husband or my child, but, like, yeah, no one. Why would your agent be the beneficiary? Like, whatever reason they're telling you, it's wrong. So just say no. Yeah, just say nope. Just say no.
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Well, on that. That was kind of short and sweet.
Yeah, that was. I like that. Short and sweet. Because we could just shake our heads and move on.
Just go to. Just go to agent verified. Just go to verify. Okay, well, let's. Let's. Let's share some other. Other good things.
Yeah. What's been going on on your side?
Okay, so my agents. So I have a new agent that came in, and so she'd actually been in the industry for a while. Okay. So she knows how to write policies and stuff. And she said, betsy, one of the policies, something I'm really passionate about. We were in the interview and she was talking, she said, I'm really passionate about accidental death policies. I was like, that's weird. I don't think I've ever had anyone tell me that they're passionate about death. Right.
Me neither.
I was like, unless she's.
I mean, yeah, I would love to.
I said, I would love to hear more about this passion of yours and stuff. And she was like, well, here's the thing. You know, you want to get families protected with, you know, term life with simplified issue with whole life. And I was like, okay, I'm glad to hear that, because I was getting a little nervous there. And she was like, but so many families, especially when they're younger, the chances of them passing away from something other than an accident are very low. But the chance of them passing away from an accident, statistically, it's very high. And she said, you know, now if they've got an accident and we have the term life in place to protect the mortgage or protect the income, like, if they're in an accident, they're probably also in the accident.
Hold on, Betsy. You hear the sirens? That could be an accident, right?
That could literally be an accident. And I didn't. I definitely did not plan that. But yes, that is. I live in downtown, and, you know, there's just always things happening downtown. Chickens. And you know, so anyway, so she said, but, you know, these. These families, they. There's probably hospital bills, like ambulance. Did you know that most people have to pay for ambulance rides? And so these people are getting. Going to the hospital, getting sick, passing away from these major accidents, and then they're getting a bill for the ambulance. Like, now that money that was supposed to go towards the Mortgage and was supposed to go towards keeping the income levels, the stable in the house. Now that's going for an ambulance ride and for hospital bills when the family member passed away. And so she said, what I'm passionate about is I can add these onto a policy for anywhere from $6 to, you know, $30 max. And now they don't have to worry that if they were, they pass away from an accident, it's not going to eat into the money that they've designated from their life insurance policy.
That's really good. Yeah.
And I mean, you know, I knew all of this, right? And I've written tons of accidentals, but she was so passionate about it and like just said, hey, I'm still going to get, I want to get the other coverage in place, but let's make sure that they have an accidental policy so that that term life or that whole life is protected. She was like, I almost see it as like insurance on their insurance policy.
Wow.
I was like, that's powerful, friend. That's powerful. So, so she's come in, man, she's riding accidentals, like literally every house she's on, every policy she writes. You know, she's talking to a husband and wife. Maybe, you know, it just makes sense. Or budget wise, they can just put a larger, you know, like term, whole life on one of the spouses. She's definitely getting accidental on both spouses no matter what.
That's smart. That's good.
So she's been coming in and you know, obviously like, her passion is infused in the team. So now they're all writing accidentals. And what was cool is one day she was kind of just, you know, again, kind of sharing and doing a little mini training with the team. And she was like, here's the other thing, guys. They will pay up to six months after. Like if you have an accident and you pass away up to six months, like, she was like, you could be in the hospital for three months on a ventilator or you could be, you know, you could have these, this major accident and then, you know, have a blood clot and now all of a sudden it goes to your head. But the blood clot was related to the accident, you know, and so you've got up to six months after the accident to claim that. So I feel like I've had a whole, you know, masterclass in accidental death because she came in and I was like, man, insurance on your insurance policy. I was like, that's, that's actually pretty, pretty great. So anyway, so that's Kind of where we've been, I've been seeing a lot of uptick. And of course, that gives especially newer agents a lot of confidence, you know, getting started with, you know, offering accidental if they're not feeling super confident in the home. And that's. And it is true. It's a great way to just get some protection on families. No matter what, what the budget is, you can always get something there. So, yeah, I love seeing them.
I love that new. This is where new agents are so powerful. They get a different. We've been looking at it this way. They come that way, they come from the back. And it's awesome.
So it's so great.
I love it.
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All right, tell us. Show us our next one up.
All right, guys, we got another one.
They keep fresh in fresh.
Being like, surely there's no more fraud. Maybe it's going to be all done. And then we go search. And it's like, yet they keep coming. They keep coming. All right, here we go. We're going to learn about this Windsor Heights insurance agent.
A Windsor Heights insurance agent has been charged with multiple counts of fraud. It follows an investigation by the Iowa Insurance Division's Fraud Bureau. This is Christopher Childers. The investigation into him started last August, and prosecutors say he, quote, knowingly and unlawfully altered the date on documents facilitating the transfer of funds without the owner's permission. He's now facing charges of fraudulent sales practices for forgery and others. He has since been released from the Polk County Jail.
That was fast. And a slap. Wow. Lock him up.
Lock him up. Changing dates on the policy. Man, there's some people out there that do some sketchy things.
The Windsor Heights insurance agent has been charged with multiple counts of fraud. It follows an investigation by the Iowa Insurance Division's fraud Bureau. This is Christopher Childers. The investigation into him started last August, and prosecutors knowingly.
That's an annuity. So that. That's. That's annuity money.
Annuity. Or maybe like a 1035 exchange where it's going into another, like, whole life or I or something.
Yeah.
So change the dates so that he could get it.
And unlawfully altered the date on documents facilitating the transfer of funds without the owner's permission. He's now facing charges of fraudulent sales practices, forgery, and others. He has since been released from the Polk County Jail.
Wow.
You know, that. You know what that makes me think of? Like. Like, even now, even though we're in this, you know, digital age, there's. There's still some things that you have to have a. We call it a wet signature, right? Like, where the client has to be the one that signs it and it has to match up with the driver's license. Like, I had one client send in some paperwork, and they were like, well, it looks a little bit different from the driver's license signature. And she was like, what? And so I was like, it needs to match your driver's license signature. Like, they won't accept it. And she was like, what do they think you did? I was like, they just want to make sure, like, I'm not signing it. Like, you know, like that's. That's actually important. They don't want me to be the one. She was like, well, you would never do that. Was like, well, of course I wouldn't.
But, you know, check, trust and be agent, verify. Yeah.
I was like, hey, this is what you want, you know? Like, I know this is an inconvenience, but, like, I want you to know that the insurance carrier is protecting you. I want you to know that I'm not going in and signing your name on stuff. Like, if it takes a little bit extra, like, we want your money to be protected. Right. And so she's okay. Yeah, that's good. That's right. So, yes, go to agent verified. Find your agents there.
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Well, speaking of agents, tell us something good that's going on in the Spencer Agency.
Oh, man, Spencer Agency. Well, we have trying to think who's to highlight because it's so, so awkward. Yeah, it's so many, right? Been talking to watching agents Betsy I'm weird here. I love watching the agents fail first.
Oh, yes, I know, I know. Like, that's, that's partly because you're a dad, I think.
Yeah, maybe like the ones that come out swinging easy are always like nervous wrecks. Like, can they handle it? But I've had an agent that spend three weeks of just full errors, like everything. Of just errors. Like, he just refused to follow the system. Gonna do it this way. But he's been putting in the activity we do a thing in our agency called putting your non negotiables. Like hell or high water. I'm going to do this. And his, his non negotiable for the week was write his first application. And Friday I'm on date night. Friday I'm in the movie and I look at my phone. He says, I got my first application. And it was like after three weeks. And he's attempted multiple. Like he's had, you know, like he was putting people with the wrong products and then talking to me afterward, you know, talking to me afterward. And I'm like, bro, that's. This is. Let's talk about what an autopsy is and let's talk about what a biopsy is. You telling me the problem you made and they can't get them on the phone, that's an autopsy. That person is no longer going to be able to. They're not going to want to work with you. But telling me why you're working it. It's called a biopsy. We can maneuver, we can work together on it. Stop telling me about the autopsies. So he finally stopped. He started like, don't. You don't have to come to me. Come to someone that's in the workroom. He finally started working with, with the team and got someone. And here's the cool part that I loved about this that made it so awesome for the other agents. The lead came in back in December, it's been a while. And she just picked up the phone for him. And she had cancer previous a month ago. So he knew based off all the errors on his three week journey he already made on where to go. And she was so grateful because she, she put it in while she was fighting it and just got in remission.
And.
And now was like, I can do this now. And he was like, I know where to. I know we can help you. Right? And it was just like watching it all come together. So I messaged him. I was like, how did that feel? Like I'm always like, how does it feel? Like, because I needed what did you learn? Yeah, what did you learn? How does it feel? And he's like, man, it felt so good because I said I was going to do it. So, you know, not to use this time to brag about what I did accomplish, but the new person that showed up every shift to put the activity in and finally break free of the one, and now we're going to celebrate them for that one. And now it's like, and I see them now in the workroom on a night now. So it's like, let's get it.
But that is what you did. Like, you created the atmosphere where, okay, even if it takes three weeks, it's okay to come in and not quote, unquote, succeed for three weeks, but then learn from that. And then, you know, at the end we're going to celebrate and not see it as like, well, finally you did it right?
Like, yeah.
Look at what you've learned. Look how much easier it's going to be because you had that time of struggle. I mean, I think, I think it's awesome. Like that. That's great, man. Congrats. Give him a high five. I love that.
Yep. So it's awesome, man.
That's what, that's what it's all about, man. We love it. So if you're like, hey, I, I can try. I've got grit.
Come in, agent verified dot com. Look for Javon Spen there, Look for Betsy Bark.
But no, seriously, guys, if you're looking for something different, you know, we've, we've got those options here and man, we'd love to, to show you, show you what's, show you what's, what's possible. Right? Well, we want you to not do the thing in these.
We're trying to show you what to do and we're going to show you what not to.
What not to do.
Okay, so here's another one of what not to do, what not to do.
Yes. So here we go.
Money and trust, gone. A former insurance agent and treasurer for the Greater Lavernia Chamber of Commerce pled guilty today to stealing more than a half a million dollars from her clients. And the Chamber Patsy Richie was sentenced to 28 years in prison. Under a plea deal with the Wilson County District Attorney, the 19's Tim Gerber sat down with one of Richie's longest friends.
What?
Whoa, whoa, whoa.
We really have to wait a week for this?
Whoa, whoa, whoa.
Half a million? Okay.
Not even allegedly.
Like, he's gonna be in prison for 20. And that was the plea.
That was a plea oh, we gotta chime in, guys. Chime in. Next time, make sure you subscribe Fraud facts life into fault facts and life insurance with agent verified. Man, that's.
This is gonna be good. That's gonna be good. All right, we'll see you next time, guys. Betsy and jab on, signing off. Have a good one.
Peace.
Thanks for listening to fraud, facts and life insurance with agent verified. If this episode made you double check your policy or your agent, head over to agentverified.com to find someone you can trust. We'll be back next week with more fraud stories, facts and ways to protect what matters most. So stay smart, stay safe, and always verify your life insurance agent.