ilovebobsaget2 asked:
I always see on Forensic Files and other shows about murderers, they are able to purchase a life insurance policy for their spouse or relative without the person’s knowledge. Then they kill the person for the money. Why are they able to buy a life insurance policy without the person knowing about it? Wouldn’t that prevent some murders if there were better procedures put in place?
The shows I am talking about are shows abotu real people and real murders. Forensic Files, Snapped, even dateline.
I always see on Forensic Files and other shows about murderers, they are able to purchase a life insurance policy for their spouse or relative without the person’s knowledge. Then they kill the person for the money. Why are they able to buy a life insurance policy without the person knowing about it? Wouldn’t that prevent some murders if there were better procedures put in place?
The shows I am talking about are shows abotu real people and real murders. Forensic Files, Snapped, even dateline.
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When you speak of life insurance, the company has to know several things about the risk they are taking. Especially if they are on a multi-million dollar policy. Usually, if taking out higher than $25,000, blood tests and physicals are required to assess the risk.
Hollywood is pretty far fetched when showing a beneficiary’s receipt of a million dollar policy without the knowledge of the person it was for.
So don’t believe everything you see in the movies.
I doubt that. Don’t believe everything you see on TV. If policies were obtained that way, they were obtained fraudulently.
Not legally. The application would have had to have the insured’s signature. Otherwise, the signature is forged, or the insured was enticed to sign something without knowing what the instrument was.
For larger life insurance policies, there are medical exams, blood tests, EKG’s, etc., to qualify the insured for the coverage. No one can go through those tests without knowing the reason.
The insured could have bought a large policy, and made the spouse, or other perpetrator with an insurable interest the beneficiary.
If somebody wants another out of his/her life so bad that they would resort to muder, the insurance isn’t going to make that much of a difference. The crime will probably be attempted anyway.
It kind of sounds like you want to put blame on the insurance companies; just like people put the blame on guns. That would be the same as blaming Ford Motor Company if someone driving a Ford product purposely ran over and murdered his victim.
It’s not the insurance company’s fault. It’s not the gun’s fault. It’s not the vehicle’s fault, but the blame should go to the one who committed the despicable crime – the perpetrator.
Yep, those are TV shows. It doesn’t happen that way in real life – you can’t do it in real life. The deceased HAS TO sign off permission, and give blood, urine, and saliva samples.
This is possible for small amounts when there is a clear insurable interest, like a spouse taking out a policy for $15k. That’s not enough money to precipitate murdering a spouse, without other motives.
The only other way I know of to do this without the other person’s permission and cooperation is through a high-risk underwriter like Lloyd’s. It is rarely used because getting a person’s permission and cooperation when your relationship with them would already qualify is often less expensive.
They are very selective about insurable interest and will only insure the other person for less than the substantiated gain if that person continues to live. In other words, if you have a binding contract with an individual that will make you $2m upon completion, Lloyd’s would only consider insuring that individual for less than $2m. This allows you to insure against their untimely death without removing your financial interest in their life.
And, no, this is not reported to the MIB – that’s part of what makes it confidential.
It is allowed to do such thing. Same as in job if job wanted they could pay for your life insurance policy. Lately its popular to get [yourself!] endowment life insurance policy, info: that gathers amount of money from which you can even earn in long term run on the endfowment policy surrenders.