Should Life Insurance Policies Be Banned?

By
Services for Real Estate Pros with IDTheftSecurity.com Inc

It’s fair to wonder how many people would still be alive today if there were never any such thing as a life insurance policy. Personally I can’t imagine NOT having a life insurance policy if you have children 17 and under. But the below info might ring true for some of you.

An insurance policy may be the only thing it takes to kick a murder plan into high gear. A woman who isn’t generally capable of murder just because she saw him with another woman might be to get her hands on that $300,000 payout.

Which brings us back to the initial question: How many people would still be with us had they not named their killer as the beneficiary of a life insurance policy?

Who in their right mind keeps an angry, disgruntled family member as the beneficiary anyways?

You’d be stunned to know the answer: Enough to supply the Investigation Discovery channel with one crime documentary after another in which a person was murdered for their life insurance policy.

  • In many cases the killer is a woman – either directly, or she “hires” someone to do the job.
  • Of course, many times the victim is a woman.
  • A third scenario is when a non-family member has been scammed by the killer to name the killer as the sole beneficiary.
  • A fourth scenario is when the killer takes out the policy of the victim without the victim knowing!

This article is about the first two types.

What’s absolutely mind-blowing is why the policyholder keeps these beneficiaries on the payout plan, when any one of the following has occurred:

  • The beneficiary and the policyholder have separated or divorced – and have a very ugly relationship in which the beneficiary has displayed fits of rage.
  • The policyholder is afraid of the beneficiary, though there’s been no violence directed towards him or her.
  • The policyholder has been assaulted by the beneficiary.
  • There are no children (which then begs the question more than ever of why the policyholder would want that ex-spouse or soon-to-be ex-spouse still as a beneficiary).

In short, why on earth would you want someone – whom you’re either afraid of or now hate to the bone – to be your beneficiary?

Even if you have young children with the beneficiary…it still makes zero sense if you believe there’s even a remote chance that your ex is capable of killing you for that money.

Your raging ex or deeply troubled son do NOT need $800,000 if you die in a car accident or from disease. So why do you have the policy and why are they on it?

Bottom Line

  • Nobody whom you fear or who now hates you should be your beneficiary.
  • Remove them at once and inform them promptly.
  • It could save your life.

Robert Siciliano personal security and identity theft expert and speaker is the author of Identity Theft Privacy: Security Protection and Fraud Prevention: Your Guide to Protecting Yourself from Identity Theft and Computer Fraud. See him knock’em dead in this Security Awareness Training video.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Sally K. & David L. Hanson 08/06/2019 07:38 AM
Topic:
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Tags:
life insurance
policy holder

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Rainmaker
3,251,528
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

You would be surprised...people forget or don't know...divorce being a case in point...Auntie didn't know and the inheritance was left to both of them by then divorcing and there was no changing that after Auntie was gone.

Aug 06, 2019 07:37 AM #1
Rainmaker
1,215,605
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Robert Siciliano,

I agree with Sally K. & David L. Hanson's comment above. But I also think that common sense plays into this... and if you don't have common sense, well enough said. 

Aug 06, 2019 04:13 PM #2
Ambassador
3,868,664
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Robert- I'll ditto what Sally K. & David L. Hanson and Sheri Sperry - MCNE® said. People do forget and many people lack common sense. And for the most part, we don't think like people who would commit these crimes and that's why we fall victim to them. 

Aug 07, 2019 02:02 PM #3
Rainer
476,889
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

Families, spouse and spouse should always review their estate plan at a minimum every 5 years or 3 years after a certain age with their financial adviser or insurance agent. Circumstances and lifestyle changes occur and sometimes it becomes necessary to change the beneficiaries or trustee in an estate plan, insurance policy or trust.

Everybody ages out and before that occurrence, a comprehensive design plan of succession should be installed to preserve a legacy and provide a loving memorial to the benefactor.

Aug 07, 2019 06:21 PM #4
Rainmaker
2,497,566
Rebecca Gaujot, Realtor®
Vision Quest Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Robert, common sense is needed when one has an insurance policy with beneficiaries you don't trust. 

Aug 07, 2019 06:25 PM #5
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Robert Siciliano

Realty Security and Identity Theft Expert Speaker
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