 Purchasing life insurance on relatives who are aging... A weird and morbid question.? |
Please comment on the ethics of purchasing life insurance on ailing relatives who have proffered the suggestion that you should purchase life insurance on their lives with you as the beneficiary?
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 What is you view on a cashless society.? |
| I have just read a artical on cashless society. A Microchip can now be injected under your skin that as all your info, such as ID, passport and medical records. Kids will be allowed to have credit ... |
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 I like to get insurance on my belongings. How do I go about it ? |
| I do not own my place, I just rent it, but I have lot’s of nice stuff and like to insure everything. I mean, if the place burns down, or somebody breaks in I like to be covered. I’ve heard, that ... |
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 Should we be penalized for another's health insurance usage? |
| Our health insurance rates are increasing another 25% (went up 15% last year, 5% year before). Enough employees were concerned to inquire, "why all the increases?" The company explained due ... |
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 Should I put my husband on my dental/health insurance if he already has his own insurance? Does it matter if? |
| we are on each others insurance? He says it doesn't cost him anything for his so why should he cancel it. I just don't want some big discrepancy between the insurance companies when ... |
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 Does it make sense for a wealthy person to pay for health insurance or just invest their money & pay for? |
| health needs of the interest of their money? Please, no junktastic answers. Only if you have true knowledge in finances. Thanks so much. :D... |
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 Time to get life insurance during economic crisis? |
Would it be a good time to get life insurance during financial and economic crisis? Because i heard a lot of people talking about getting life insurance.
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| What do financial advisors think about universal life insurance? |
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I was looking at MetLife Guarantee Advantage Univeral Life, and i was looking at buying it directrly from the agent not thru a fee only ... |
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 Term mortgage insurance.Who gets the house? |
| Im thinking about getting mortgage insurance on my home. This is my first home and i dont have it mortgage insur. now. How much does term mortgage insur. normally run and who gets the house if i pass ... |
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 Insurance: The Ultimate Gamble? |
My hubby and I debate this all the time, he wants to insure everything we own. I say it is like betting against yourself.
You are betting you are unfortunate and have an accident, or ... |
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 Is it customary to make a check out to an insurance broker (instead of the insurance company)? |
| I am applying for personal liabiility insurance for private educational consulting and the application says to make the check out to the broker...that seems weird to me...does anyone know?... |
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 Why do parents get life insurance on their children? |
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blonde--certainly children have lives too, but seeing as how life insurance on a child doesn't insure that they keep life, i don't understand the offensive ... |
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 What type of life insurance do you recommend??? |
| I am male, 37, non smoker, 3 kids, working wife, make about 72,000 a year.... |
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 Do I need public liability Insurance ? |
We are starting a service that matches companies to website designers. Its an online service.
Theoretically there could be issue between the companies meeting through our service. Would we ... |
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Ted (Canton,OH) | Make Money buying life insurance on people dying? |
Is it possible to buy life insurance on people dying and then me keep half and give their family half of it too? I'm just curious as I thought it would be a good money maker.
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I just thought a person may not have life insurance and if they are really old and probably going to die in next 3 years, it would be helpful to buy it for them to pay for funeral expenses and stuff. Also I could be a nice person and give half of it to the family of their choice. I do not think this is an evil question. Come on people, get real. People out there die all the time without insurance and then their kids are the ones who suffer. |
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Kristine T
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Actually a viatical company will work with people who all ready have life insurance and give sort of an advance to the family or insured on any EXISTING insurance policy. the key is there has to be a policy in place all ready. The viatical company changes the policy so that they in turn are the beneficiaries and keep part of the death benefit. this is legal in some states because the family may need the money. Most insurance companies will not issue a policy to a person over the age of seventy. The person regardless of age also has to prove to be insurable. Blood, urine and paramedical tests are done and the company may not wish to take the risk of insuring the person. |
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mbrcatz
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It's not going to be a good moneymaker, because insurance companies figure the odds before deciding on the premium. If you're OLD, or have a terminal illness, the insurance is going to cost as much as it pays out, maybe more.
Insurance is betting. Insurance companies are bookies. The odds are ALWAYS stacked in favor of the house. The reason people dying don't buy life insurance, is that it costs more than it pays out.
Just like, you can't go to the track and place a bet AFTER the race is won. |
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onceisenoughilearnedmylesson
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SICKO!!!
Get off your a__ and get a real job!!! |
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anthony b
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sorry, but you would not be considered the legal beneficiary, that privilege belongs strictly to family members,the living persons can include others in his will, keep in mind that attorneys,and courts stand firmly behind the families rights . on the other hand grave robbing is discouraged. |
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insuranceguytx
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There are companies that do this already and the insurance companies and the insurance commissioners (regulators) are cracking down on the practice.
Find some other way to make money.
* |
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Mark S
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So you plan to start up a viatical settlement company? Check with your state insurance commissioner, they should be able to help you start this venture. Just remember that these are people who have families so don't take advantage of them. There are companies out there that do this right now. Insurance companies are thinking about doing this and then creating a mutual fund. Marketing practices have gotten other companies in trouble. |
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American Woman
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You are evil pervs and I should have known it from the beginning. |
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Christina A
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I think family can be the only ones to buy life insurance, otherwise people could just go to the hospital and cash out. And get a day job! |
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Mr. Prefect
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You must have an insurable interest in whoever you buy insurance on. In other words, you could not buy a life policy on Bin Ladin, as you do not know him, are not related, and have no insurable interest in his health. |
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aaron p
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If they are over the age of 65 or will die in the next 2 years, it's technically called a "viatical", whereas it is called a "life settlement" in all other cases.
This is actually an increasing market with many different ins and outs. The primary thing that individual investors need to think about is your own ability to access risk and diversify the mortality risk of your risk pool. There are many ethical issues involved too. Go do some research - you will be in competition with institutional investors. |
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