[Smlr_net] Legislation targets those who bet on death

sagauro at rci.rutgers.edu sagauro at rci.rutgers.edu
Fri Oct 9 12:25:13 EDT 2009


This story was sent to you by: eugene mcelroy

anyone who saw Michael Moore's latest film "Capitalism: A Love Story" will remember the sequence in which he deals with the "dead peasant" insurance policies taken out by companies on their employees.

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Legislation targets those who bet on death 
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Some investors pay seniors for the right to take out life policies on them. Proposed bill in California has some industry support.

By Marc Lifsher

October 9 2009

Reporting from Sacramento -- New efforts are underway in Sacramento to regulate how investors buy and sell existing life insurance policies, a practice that critics contend allows speculators to make money by wagering on when a person will die. 

The complete article can be viewed at:
http://www.latimes.com/business/la-fi-life-insurance9-2009oct09,0,7297633.story 

Visit latimes.com at http://www.latimes.com


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