Life insurance question?
Saw this on TV last night. A man took out 1/2 million in 4 different life ins policies on himself & his wife plus coerced her into changing the beneficiary of another $60,000 policy that she had on herself (orig beneficiary were her parents). He had planned on faking his death in a kayaking accident. She originally was going to go along with it but chickened out. She "accidentally" falls from a cliff in Alaska while on their belated honeymoon. Very suspicious & under investigation.
Long story short - he admitted to attempted ins fraud but not to killing his wife. Jury said "not guilty" because of the lack of hard evidence to the wife killing. He did not collect on any of the insur policies. Who gets the money then? The insurance company just keeps it? I wondered if the parents would be entitled to any since there was proof he coerced her into changing the beneficiary?
There is no "by the book" answer here. Each scenario is investigated and paid or not paid based on the outcome of the investigation. If there is proof that the husband coerced her into changing the beneficiary, the parents may be able to claim as that change never would have gone through. BUT - how is there proof? The husband admitted it? I don't think that's actual proof as the parents could be in on it.
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AlaskaReportSanjay Gupta's and Obama's Message, "Health Care is Unfair" Steve Conn is a retired professor of justice at the University of Alaska, and former director of Alaska Public Interest Research Group. He lived in Alaska