I was watching a report on the news today that people are going around making a profit on buying life insurance policies from the elderly and hoping they will kick the bucket, so they can collect on their death.
Some lawyer was saying he had 15 policies from different individuals, and was disappointed that none of them have died.
I guess if the person buys a life insurance policy, they can claim 50 percent of the payout on the policy if the original owner dies. If that is the case, what do the surviving family members get if some of the policy is granted to them?
My main question is, how in the hell is this legal? And how many policies can a person buy? Not only that, it seems to me a smart crook could buy up policies and bump the person off to collect.
It sure seems like a pretty big scam to me. And, how does the public know the employees of insurers aren't buying up these policies themselves? They would certainly have the best knowledge of the person involved.
Sad to say, it doesn't surprise me. Ever hear of dead peasants' insurance?
http://moneycentral.msn.com/content/ins … p64954.asp
wow..who would have thought a lawyer could be such a weasel?
by imdajaz6 years ago
Here my topic is all about life insurance i have some knowledge about life insurance that's i want to shareThere is a lot of common points to recognise when you're thinking of life insurance. When you're trying to...
by Stacie L6 years ago
Do You Need an Extra Car Repair Policy?by Jay MacDonaldTuesday, January 18, 2011BankrateWant to keep costly auto repairs from breaking your budget after your manufacturer's warranty expires? One option may be mechanical...
by mbuggieh3 years ago
A recent article by Jack Kelly published at www.realclearpolitics.com notes the following:"Because he so often has “led from behind,” blustered and retreated, our enemies don’t fear our president; our allies...
by NateSean6 years ago
So, the library I go to is a part of a network of libraries in the Eastern Mass area. Because of that, I can use my library card to get online at any of those libraries.Each library has a different Internet policy, but...
by Mentalist acer6 years ago
Will the new healthcare policy personally help you,and just exactly are the drawbacks of the healthcare bill?
Copyright © 2017 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.