News
Investors Recruit Terminally Ill To Outwit Insurers on Annuities
By MARK MAREMONT And LESLIE SCISM PROVIDENCE, R.I.—”Terminal Illness? $2,000 in CASH, Immediately Available.” That was the promise of an advertisement that appeared regularly in 2007 and 2008 in the Rhode Island Catholic, the official newspaper of the local diocese. The money, the ad said, was coming from a “compassionate organization” that wanted to provide …
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Doug Head: State insurance commissioner wrong about life settlements
Florida’s Insurance Commissioner, Kevin McCarty, writing on The Sun’s web page, revealed that some insurance regulators cannot differentiate between a legitimate life settlement – the lawful sale of an existing life insurance policy to a third party for value – from the fraudulent purchase of new insurance, sold by a life insurance company’s own agent, …
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