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Former Insurance Agent Convicted of Class D Felony

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Former Insurance Agent Joy Heldt Convicted of Fraud

Des Moines, IA -- Joy Marie Heldt, age 48, of Madrid, was convicted of Fraudulent Submissions to an Insurer (Class D Felony) following an insurance fraud investigation by the Iowa Insurance Division’s Fraud Bureau.  Heldt is a former insurance agent in Urbandale, Iowa.

“Insurance agents hold a position of trust and Iowans expect them to act with integrity and in an ethical manner.  Ms. Heldt violated that trust,” Iowa Insurance Commissioner Doug Ommen said. “There are thousands of licensed insurance agents able to assist Iowans in an ethical and credible way with their insurance needs.  Consumers should rest assured that the Iowa Insurance Division will continue to investigate and hold accountable any individual who misuses their position in order to profit through deceptive acts.”

The conviction follows an investigation that began in March of 2018.  The investigation concluded that Heldt, while acting as an insurance agent, used the identifying information of another individual to complete an individual term life insurance application.  The individual who was listed as the proposed primary insured and policy owner did not authorize Heldt to submit the application.

On March 28, 2018,  Iowa Insurance Commissioner ordered the permanent revocation of Heldt’s Iowa insurance license and ordered her to immediately cease and desist from engaging in the practice of insurance in this state as a result of her misconduct.

On January 10, 2019, Heldt received a deferred judgment, two years probation, and was ordered to pay a fine of $750.00.

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