Life Insurance – Did Things Just Get More Interesting
by
Uchenna Ani-OkoyeFor the majority of our lives, the subject of life indemnity has traditionally been one that each of us has probably desired to ignore. It is often regarded as tedious, frustrating, dull, and not altogether necessary – at least until you reach that age. On another level, despite its importance and the inherent sensibleness that is evident when an individual is seen to have taken out a policy, it is still very difficult to make the subject of life insurance seem interesting, positive and relevant – without seeming preachy.Of course, all that is about to change, drawing influence from a blog post at ‘wnyc’ entitled: Life Insurance Not So Dull After All, the interview contained therein highlighted the fact that, aside from what it might mean from person to person in regards to when/whether they should be thinking about it, life indemnity on an industrial and business level is one of the most crucial factors in regards to the recession – and consequently one of the most discussable subjects for the press.In that post, proficient Aaron Elstein points out the likelihood of further bailouts for American life indemnity (many insurers remain in a strong condition) companies due to certain investments in bonds (i.e. mortgages) which have declined in value. In turn, such declining bonds will be sold at a loss and certain insurers will be losing money – and, in simple terms, may well struggle to pay out claimants without government aid. if that doesn’t sound like the makings of a John Grisham novel, further life insurance-orientated news stories seem like the stuff dreamt up by Hollywood scriptwriters.The Los Angeles Times (and other places) reported on April 8th of the story of two middle aged women who’ve been arrested and accused of life insurance fraud on a grand scale. The women (aged 60 and 66, and thought to have worked with others) are said to have bought life insurance policies in the names of fictitious people, waited until the policies had matured, held fake funerals, and then received the payouts from their own beneficiary bank accounts.The couple are facing various charges and are said to have carried out two fake indemnity claims for people called Jim Davis and Lara Urich, leaving agents etc stunned at the lengths some will go to. The Times stated: “the defendants are accused of faking the cremation of a “Laura Urich” and collecting $5,000 in funeral expenses and $50,000 in indemnity death gains through two purported beneficiaries, according to court records.” Aside from being a significant thing to consider when each of us reaches that certain time in our life – in 2009, it seems that life insurance could be the most intriguing subject of the time, and a great reflection of life in the 21st Century.
Uchenna Ani-Okoye is an internet marketing advisor
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