Life insurance investments on celebrities with drug problems

Gary Busey life insurance risk

Gary Busey life insurance risk

It is so dumb that companies can take out life insurance policies on their employees, with the company as the beneficiary receiving the life insurance benefits in the event of an employee’s death. 

Only family members or household members should be able to be the beneficiaries of an employee life insurance policy.

Life insurance shouldn’t be a speculative investment or a financial vehicle that companies and people use on complete strangers.  I shouldn’t be able to take out a life insurance policy on a musician or an actor who has a serious drug problem, with the hope that he or she will kick the bucket.  “Hey you know I need to start saving for retirement, maybe I should buy a life insurance policy on Gary Busy or Courtney Love.”  These are people not crop futures.

Under the current life insurance rules, you can take out a life insurance policy on someone if you are dependent on them for education, support, or have a financial stake. 

So right now, I can try to make money by taking out a life insurance policy on someone who is living life dangerously and make up or create a reason why I am eligible to do so. “I need a life insurance policy on Charlie Sheen because I won a $50,000 bet against him and he hasn’t paid me yet.”  “I need to take out a life insurance policy on Amy Winehouse; because I play her music in my store and if she isn’t alive making new music, my business will go under.”

One Response to Life insurance investments on celebrities with drug problems

  1. Effie says:

    Holy fish nets! What an eerily timed life-insurance/Amy Winehouse joke. I’m officially creeped out by the irony.

Leave a Reply

Fill in your details below or click an icon to log in:

Gravatar
WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 43 other followers

Build a website with WordPress.com
%d bloggers like this: