Last fall, we reported on this tragic story:
"California dad charged with insurance fraud after he drove off cliff, killing autistic sons"
Turns out, "Father of the Year" (non-)contender Ali Elmezayen had purchased the policies just over two years prior, presumably planning ahead to avoid the contestability clause which "allows the carrier to review a recently approved policy to see if there were any misstatements or misrepresentations" and goes away after the first two years. So it appears that Mr E thought that a two week "cushion" would be sufficient.
Ooops:
"A California man has been charged with murder for allegedly driving his family, including his two autistic sons, off a Los Angeles pier after buying $6 million insurance policies in case of accidental deaths."
And of course "accidental death" nature of the plans was a nice touch: these policies are generally a fraction of the cost of a regular term or whole life plan. And if the goal is to collect in a couple years anyway, who needs long term premium guarantees?
Be a darned shame if anything untoward happened to him in prison.
"California dad charged with insurance fraud after he drove off cliff, killing autistic sons"
Turns out, "Father of the Year" (non-)contender Ali Elmezayen had purchased the policies just over two years prior, presumably planning ahead to avoid the contestability clause which "allows the carrier to review a recently approved policy to see if there were any misstatements or misrepresentations" and goes away after the first two years. So it appears that Mr E thought that a two week "cushion" would be sufficient.
Ooops:
"A California man has been charged with murder for allegedly driving his family, including his two autistic sons, off a Los Angeles pier after buying $6 million insurance policies in case of accidental deaths."
And of course "accidental death" nature of the plans was a nice touch: these policies are generally a fraction of the cost of a regular term or whole life plan. And if the goal is to collect in a couple years anyway, who needs long term premium guarantees?
Be a darned shame if anything untoward happened to him in prison.
from InsureBlog https://ift.tt/2Yjel0V
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